[Deloitte] Budget 2025 Snapshot

Themed ‘Reinvigorating the Economy, Driving Reforms, and Prospering the Rakyat,’ Budget 2025 unveiled the largest budget in history at RM421 billion, alongside a projected GDP growth of 4.5% to 5.5% and a fiscal deficit target of 3.8% of GDP. This is the third budget under the MADANI government, continuing its focus on widening the tax base, driving economic growth, strengthening governance, and protecting the well – being
of the rakyat. 

From a tax perspective, Budget 2025 focuses on taxing higher – income groups, as evidenced by measures such as imposing sales tax on the importation of premium goods, service tax on fee – based banking services, and a 2% tax on dividend income exceeding RM100,000 received by individuals.  The Prime Minister has noted that Malaysia’s tax – to – GDP ratio stands at just 12.6%, and is one of the lowest among its peers, highlighting the need to widen the tax base. The tax measures announced in Budget 2025 represent initial steps
toward this goal. Additionally, we anticipate increased tax audits to enhance tax collection in 2025. Therefore,
cultivating a strong culture of tax governance is essential moving forward.

Please click on the link to view the report in full.

 

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[MDEC] Horizon: A Perspective of Malaysia’s Digital Economy

Horizon is a strategic digital economy publication aiming to showcase the vibrant growth trend in Malaysia’s digital economy, provide insight on trends and opportunities in Malaysia’s digital economy, and serve as the primary reference for both global and local stakeholders seeking reliable data, insights, and information on Malaysia’s digital landscape.

Unlock the Insights and Navigate the Digital Economy with Horizon
The digital economy is evolving at lightning speed, shaping industries and reshaping business landscapes. To navigate this dynamic realm, Horizon provides valuable insights and expert analysis that can guide your strategic decisions and fuel your success.

Introducing our comprehensive digital economy publication called Horizon, where thought leadership articles and cutting – edge analysis converge. We have gathered a diverse pool of industry visionaries, technological pioneers, and business experts to create a platform that fosters innovation, ideas, and inspires breakthroughs.

Please click on the link to view the report in full.

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[MGTC] Green Practices Guidelines for the Services Sector

The development of green practice guidelines is a continuation of the implementation of the MyHIJAU Program under the Ministry of Environment and Water (KASA) and the Malaysian Green Technology and Climate Change Corporation (MGTC) which is a coordinating agency and secretariat for the program. 

The development of Green Practice Guidelines is to provide guidance to the green industry in implementing green practices at the preliminary stage, during, and after construction is implemented. These guidelines also have an implementation direction to ensure that these Guidelines will continue to be referred to and used by all parties, especially industry players to help achieve the government’s goal of implementing green development in Malaysia. 

These Guidelines are more towards the requirements that need to be put into practice so that industries, companies and organizations have green practice guidelines that can be referred to as well as help companies achieve the government’s goal of using green practices in line with SDG 12.6, which is to encourage the industry to use sustainable practices and integrate information sustainability into the reporting cycle.

Please click on the link to view the report in full.

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[MGTC] Green Practices Guidelines for Livestock

The development of green practice guidelines is a continuation of the implementation of the MyHIJAU Program under the Ministry of Environment and Water (KASA) and the Malaysian Green Technology and Climate Change Corporation (MGTC) which is a coordinating agency and secretariat for the program. 

The development of Green Practice Guidelines is to provide guidance to the green industry in implementing green practices at the preliminary stage, during, and after construction is implemented. These guidelines also have an implementation direction to ensure that these Guidelines will continue to be referred to and used by all parties, especially industry players to help achieve the government’s goal of implementing green development in Malaysia. 

These Guidelines are more towards the requirements that need to be put into practice so that industries, companies and organizations have green practice guidelines that can be referred to as well as help companies achieve the government’s goal of using green practices in line with SDG 12.6, which is to encourage the industry to use sustainable practices and integrate information sustainability into the reporting cycle.

Please click on the link to view the report in full.

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[MGTC] Green Practices Guidelines for Agriculture & Plantation

The development of green practice guidelines is a continuation of the implementation of the MyHIJAU Program under the Ministry of Environment and Water (KASA) and the Malaysian Green Technology and Climate Change Corporation (MGTC) which is a coordinating agency and secretariat for the program. 

The development of Green Practice Guidelines is to provide guidance to the green industry in implementing green practices at the preliminary stage, during, and after construction is implemented. These guidelines also have an implementation direction to ensure that these Guidelines will continue to be referred to and used by all parties, especially industry players to help achieve the government’s goal of implementing green development in Malaysia. 

These Guidelines are more towards the requirements that need to be put into practice so that industries, companies and organizations have green practice guidelines that can be referred to as well as help companies achieve the government’s goal of using green practices in line with SDG 12.6, which is to encourage the industry to use sustainable practices and integrate information sustainability into the reporting cycle.

Please click on the link to view the report in full.

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[MGTC] Green Practices Guidelines for Manufacturing

The development of green practice guidelines is a continuation of the implementation of the MyHIJAU Program under the Ministry of Environment and Water (KASA) and the Malaysian Green Technology and Climate Change Corporation (MGTC) which is a coordinating agency and secretariat for the program. 

The development of Green Practice Guidelines is to provide guidance to the green industry in implementing green practices at the preliminary stage, during, and after construction is implemented. These guidelines also have an implementation direction to ensure that these Guidelines will continue to be referred to and used by all parties, especially industry players to help achieve the government’s goal of implementing green development in Malaysia. 

These Guidelines are more towards the requirements that need to be put into practice so that industries, companies and organizations have green practice guidelines that can be referred to as well as help companies achieve the government’s goal of using green practices in line with SDG 12.6, which is to encourage the industry to use sustainable practices and integrate information sustainability into the reporting cycle.

Please click on the link to view the report in full.

MDBC Membership Satisfaction Survey 2023

Results from the MDBC Member Satisfaction Survey 2023. Feedback given by members on each section of the Membership satisfactions survey (MSS) contains both positive as well as constructive feedback. We thank you all for sharing you thoughts on how MDBC can continue to improve.

Please click on the link to see the infographic in full.

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[MDEC] National e – Invoicing Initiative

The National e – Invoicing initiative aims to drive interoperable e – invoicing by digitalizing how businesses send invoices to other businesses, allowing different accounting software and Enterprise Resource Planning (ERP) systems to send and receive e – Invoices in a system – to – system manner.

Please click on the link to view the infographic in full.

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[CMM] SEDG ESG Disclosure Guide

As part of the RBC Working Group meeting on 4 October, participants received a briefing on the SEDG Guide.  The SEDG is a guide to help your company decide what Environmental, Social and Governance (ESG) disclosures to track and report. It seeks to provide a simple and standard way for Malaysian SMEs in supply chains to disclose on ESG.

The SEDG covers indicators that can be tracked and disclosed to measure ESG progress, as well as provide for different levels of adoption. The guidance structure of the disclosures consists of most referenced topics in ESG disclosures. The Guide provides the metrics needed to track progression in each 15 topics and identifies 35 disclosures in selected standards that correlate to chosen disclosures. The SEDG also offers additional guidance to provide SMEs additional information to further guide on the requirements of the disclosure.

Please click on the links below to download the SEDG Guide and supporting documents:
* Simplified ESG Disclosure Guide
* SEDG Additional Guidance
* SEDG Disclosure Guidance 
* SEDG Template

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[TMF Group] The Global Business Complexity Index 2023

Insights to cut through the complexity of operating and investing around the world.

Entering into new markets, or managing existing cross – border operations, can pose many challenges for businesses. This report helps you to cut through the layers of corporate compliance complexity, wherever you operate.  Based on exhaustive proprietary research and TMF’s analysis of over 22,000 data points, the Global Business Complexity Index provides an authoritative overview of the complexity of establishing and operating businesses around the world.

The analysis identifies key trends and sheds light on how business complexity affects three core areas of business administration:

• Accounting and tax
• Global entity management
• HR and payroll

Download the report to discover:

• Which jurisdictions rank as the most complex – or the simplest – based on their business environments.
• The impact of geopolitical and economic factors such as inflation and conflict on businesses’ growth and expansion plans.
• How global compliance requirements are evolving and the consequences for the attractiveness of jurisdictions around the world.
• The increasing importance of ESG considerations and how these are being incorporated into business practices.

Please click on the link to read the report in full.

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[MIDA] First Half 2023 Investments Inflow into Malaysia to Generate Over 50,000 Jobs

Malaysia has attracted a total of RM132.6 billion (USD28.4 billion) worth of approved investments in the services, manufacturing and primary sectors involving 2,651 projects from January to June 2023 and is expected to create 51,853 job opportunities in the country. 

Singapore is the leading source of FDI with approved investments totaling RM13.7 billion (USD2.9 billion). The nation has also attracted quality investments from other countries, such as Japan (RM9.1 billion) (USD2.0 billion), The Netherlands (RM9.0 billion) (USD1.9 billion), the People’s Republic of China (PRC) (RM8.4 billion) (USD1.8 billion), and British Virgin Islands (RM7.1 billion) (USD1.5 billion).

Please click on the link to read the report in full.
Please click here to view the infographic.

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[MDEC] Horizon: A Perspective of Malaysia’s Digital Economy

Horizon is a strategic digital economy publication aiming to showcase the vibrant growth trend in Malaysia’s digital economy, provide insight on trends and opportunities in Malaysia’s digital economy, and serve as the primary reference for both global and local stakeholders seeking reliable data, insights, and information on Malaysia’s digital landscape.

Please click on the link to read the report in full.

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[Randstad] 2023 Market and Salary Report

Randstad, the world’s leading human resources solutions agency, has released the 2023 Job Market and Salary Trends Report to provide employers and job seekers with new talent insights and salary benchmarks in Malaysia.

The 2023 Job Market and Salary Trends report anticipates talent and skills developments in pinpointed industries:

Technology – Adopting a more prudent recruitment and workforce management approach, driving talent demand in cloud computing, cybersecurity, artificial intelligence, the Internet of Things (IoT), virtual reality (VR), and blockchain.

Manufacturing – Demand for technical and commercial talent continues as organizations push their I4.0 digital transformation forward, in automation, digitalization, and experiences.

Construction – Commercial property and infrastructure developments will create more high – value skilled jobs for the local workforce, which may be slowed down by the persistent skills gap.

Please click on the link to read the report in full.

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MDBC 8 Ways to Get More Out of Your Council Membership

There are many reasons to join the Malaysian Dutch Business Council (MDBC). There are networking opportunities, community involvement, and the trust that affiliation with our Business Council builds within the market. There are many additional benefits that you can receive from being an MDBC member, but sometimes, our members need extra support to get the maximum benefit out of this community. It’s easy to assume that by simply paying the annual membership dues, new business opportunities, potential joint ventures, and higher brand recognition will occur. In order to help you maximize your benefits and make the MDBC experience work for you, learn how to get the most out of your membership.

Please click on the link to see the document in full.

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MDBC Whitelist Checklist

To ensure that you can receive all of our e – mails, please make sure that you whitelist our addresses and domain.  Need help doing that? We’ve put together a simple, easy to read whitelist checklist for you to follow.

MDBC: Membership Satisfaction Survey 2022 Summary Results

Results from the MDBC Membership Satisfaction Survey (MSS) 2022.  Feedback given by members on each section of the MSS contains both positive as well as constructive feedback.  We thank you all for sharing your thoughts on how MDBC can continue to improve.

Please click on the link to see the infographic in full.

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[InvestKL] Breaking New Ground: Sustainability in Malaysia

The report by MIT Technology Review Insights highlights what global companies in Greater KL — and Malaysia as a whole — are doing to achieve their ESG targets

InvestKL Corporation (“InvestKL”) launched “Breaking New Ground: Sustainability in Malaysia,” a sustainability-themed report developed in collaboration with the Massachusetts Institute of Technology (“MIT”) Technology Review Insights recently.  The report is based on interviews with sustainability experts and senior executives from leading global companies in Greater Kuala Lumpur (“KL”). It highlights how they drive sustainability values by incorporating environmental, social, and governance (“ESG”) principles into their core businesses, and how their local experience could be applied globally.

The key findings of the report are:

1. Malaysia is committed to becoming a regional decarbonisation leader through its deep, globally integrated industry clusters and supply chains to develop new, greener business processes and less carbon-intensive manufacturing and logistics processes.

2. Greater KL has experienced a significant increase in “greening” opportunities for some of the country’s conventional innovation clusters, particularly in oil and gas, energy, IT outsourcing and other digital economy sectors.

3. Malaysia’s growing sustainability stance is creating a culture of monitoring, measurement and accountability that can serve as a framework for ESG-minded companies.

Please click on the link to read the report in full.

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[Henry Goh & Co] The Budapest Treaty in Malaysia and New Directives

On 31 March 2022, Malaysia deposited the instrument of ratification at the World Intellectual Property Organization (WIPO) Headquarters in Geneva and officially acceded to the Budapest Treaty on the International Recognition of the Deposit of Microorganisms for the Purposes of Patent Procedure. This brings the total number of contracting parties of the Budapest Treaty to 86 (as of 15 July 2022). Following the deposit, the related provisions in the Patents (Amendment) Act 2022 i.e., Sections 26C and Subsection 78O(1A) came into force on 30 June 2022.

The Malaysian IP Office has also issued several directives on 30 June 2022. A raft of new official forms is now available incorporating matters relating to the deposition of microorganisms in view of the enforcement of the Budapest Treaty provisions. There is a grace period up to 31 July 2022 within which the old forms may still be used.

Please click on the link to read the report in full.

EUROCHAM: CSO Roundtable Dialogue – Sustainability in Manufacturing

On 12 September, EUROCHAM organized the Chief Sustainability Officer (CSO) Roundtable Dialogue on Sustainability in Manufacturing.  The dialogue focused on three topics:
1. Renewable Energy;
2. Circularity in Manufacturing; and 
3. Hydrogen Economy.

Please click on the link above to view the full report.
Click here to read the CSO Roundtable Dialogue Feedback Survey.

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National Industrial Masterplan (NIMP) 2030

The New Industrial Master Plan 2030 (NIMP 2030) aims to increase the manufacturing’s value – added by 6.5% to RM587.5 billion by 2030, derived from the master plan’s interventions for high – impact sectors, Prime Minister Datuk Seri Anwar Ibrahim said on 1 September.  The high – impact sectors include electrical and electronics (E&E), chemical, electric vehicle, aerospace, and pharmaceutical.

Click here to read / download the NIMP media release.
Click here to read / download the Prime Minister’s Speech on the NIMP 2030.
Click here to read / download the summary of the NIMP 2030.
Click here to read / download the NIMP 2030.

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National Energy Transition Roadmap (NETR)

On 27 July 2023, the Malaysian government launched the National Energy Transition Roadmap (NETR) Phase 1 to accelerate Malaysia’s energy transition. NETR is critical in supporting:

• The Twelfth Malaysia Plan 2021 – 2025 which outlines aspirations for the nation to achieve net zero emissions by 2050;
• The National Energy Policy (DTN) launched in September 2022 with aspirations to become a low carbon nation in 2040.

NETR is also crucial in navigating the complexity of energy transition on a large scale, especially the shift from a traditional fossil fuel – based economy to a high – value green economy.

Please click on the link to read or download the report in full.

Amendments to Employment Act

Amendments to the Employment Act 1955 came into force on Jan 1, 2022.  Key amendments include the extension of maternity leave allocations from 60 days to 98 days, reduced weekly working hours from 48 to 45 hours, and a seven – day paternity leave for married male employees.

– News: Amendments to Employment Act comes into force Jan 1
– The official gazette: ACT A1651 EMPLOYMENT (AMENDMENT) ACT 2022
– Summary PDF: Employment Act (Amendment) 2022 (may be viewed below)