#Employee Provident Fund Malaysia

[kazifatagar]

PAC probes RM500 million alleged loss from MAHB stock transactions

Malaysia’s Public Accounts Committee (PAC) is probing a RM500 million loss from Malaysia Airports Holdings Berhad (MAHB) stock transactions, following the Employees Provident Fund’s (EPF) decision to sell shares at RM6.74 and repurchase them at RM11. PAC chair Mas Ermieyati Samsudin suggested summoning Transport Minister Anthony Loke for questioning: “All ministers appearing before the PAC do so…

[jamesvince9898]

Professional Accounting Firm and Company Incorporation Specialist in Malaysia

Introduction In Malaysia's dynamic business environment, having the right partner to navigate financial and legal processes is essential for success. 3E Accounting Malaysia - Kuala Lumpur Headquarters (HQ) is a trusted accounting firm offering premium services for businesses of all sizes. Whether you are a startup or an established company, our tailored solutions help you meet compliance, streamline operations, and achieve sustainable growth.

As a leading Malaysia company formation specialist and a reliable corporate service provider in Malaysia, we offer comprehensive support, from company incorporation to accounting and taxation. If you are searching for an “accounting firm near me,” 3E Accounting ensures professional, efficient, and seamless services to fulfill your business needs.

1. Your Trusted Accounting Firm in Malaysia

Accounting plays a vital role in the success of every business. A professional accounting firm like 3E Accounting Malaysia - Kuala Lumpur HQ provides accurate financial management to enhance operational efficiency. With our highly skilled team, we deliver meticulous accounting solutions, from bookkeeping to financial reporting, ensuring your business complies with Malaysian regulations.

As an accounting firm near me, we specialize in offering localized accounting support tailored to your business sector and size. Our services include:

Bookkeeping services to maintain clean and organized financial records

Preparation of monthly and annual financial statements

Payroll management and taxation compliance

Advisory services for financial growth and sustainability

Whether you're a small business or a multinational corporation, our accounting expertise ensures your finances are in perfect order.

2. Malaysia Company Formation Specialist for Entrepreneurs

Starting a business in Malaysia offers great opportunities but comes with regulatory requirements that can be challenging to navigate. As a Malaysia company formation specialist, 3E Accounting simplifies the company registration process. Our experts provide end-to-end guidance, ensuring compliance with all legal procedures.

Our company incorporation services include:

Name Registration: Assistance with selecting and registering a suitable company name under the Companies Commission of Malaysia (SSM).

Document Preparation: Drafting key documents such as Articles of Association and Memorandum of Association.

Company Setup Consultation: Choosing the appropriate business structure, including Private Limited Company (Sdn. Bhd.), Limited Liability Partnership (LLP), or Sole Proprietorship.

Post-Incorporation Support: Ensuring compliance with tax registration, licenses, and opening a corporate bank account.

As a Malaysia company incorporation specialist, we empower entrepreneurs to set up their businesses efficiently and successfully, allowing them to focus on their growth.

3. Corporate Service Provider in Malaysia

Being a business owner involves managing various operational elements, from finance to compliance and regulatory reporting. As a reliable corporate service provider in Malaysia, 3E Accounting Malaysia HQ offers professional corporate solutions to help businesses focus on what matters most—expanding their operations.

Our corporate services include:

Corporate Secretarial Services: Ensuring your company meets statutory requirements, including annual returns, shareholder resolutions, and board meeting documentation.

Taxation and GST/SST Compliance: Preparation and submission of tax returns while staying compliant with Malaysia’s tax laws.

Business Advisory Services: Providing strategic business advice for sustainable growth and profitability.

Human Resources (HR) and Payroll Services: Managing employee payroll, provident fund contributions, and salary disbursements accurately.

With years of industry experience, our team works seamlessly to deliver high-quality services that ensure your business remains compliant and efficient.

4. Why Choose 3E Accounting Malaysia - Kuala Lumpur Headquarters?

Choosing the right accounting firm near me or corporate service provider in Malaysia is crucial for your business. At 3E Accounting Malaysia HQ, we stand out due to the following reasons:

Expertise and Knowledge Our team of experienced professionals combines deep industry expertise with up-to-date knowledge of Malaysian accounting standards and business laws. We are committed to delivering solutions that meet your specific needs.

One-Stop Solution We offer a comprehensive range of services, including company incorporation, accounting, taxation, and corporate advisory, providing businesses with a convenient one-stop solution for their operational requirements.

Client-Centric Approach At 3E Accounting, we prioritize our clients' success. We take the time to understand your business goals and tailor our services to help you achieve them effectively.

Commitment to Compliance Staying compliant with Malaysia’s regulatory framework is essential. As a professional Malaysia company formation specialist, we ensure your business meets all statutory requirements with accuracy and timeliness.

Cost-Effective Services We believe in providing exceptional value to our clients. Our services are designed to deliver high-quality solutions at cost-effective rates.

5. Comprehensive Solutions for Startups and SMEs

Small and medium-sized enterprises (SMEs) and startups form the backbone of Malaysia’s economy. At 3E Accounting Malaysia - Kuala Lumpur HQ, we specialize in helping SMEs and startups manage their accounting and company incorporation needs.

Our tailored solutions include:

Assistance in selecting the right business structure for startups

Cost-effective accounting and bookkeeping services for SMEs

Simplified compliance with taxation and payroll requirements

Business advisory to support growth, scalability, and financial success

As an established Malaysia company formation specialist, we streamline company registration for startups, allowing entrepreneurs to focus on their business vision.

6. Supporting Foreign Businesses in Malaysia

For foreign investors and businesses looking to enter Malaysia, having the right local partner is crucial. 3E Accounting Malaysia HQ is a top corporate service provider in Malaysia that offers guidance and support for foreign entrepreneurs.

Our services for foreign businesses include:

Company incorporation for foreign-owned businesses

Obtaining necessary work permits and licenses

Tax compliance and financial advisory

Ongoing accounting and bookkeeping services

Our extensive knowledge of Malaysia’s regulatory landscape ensures a smooth and hassle-free process for foreign businesses looking to establish operations in the country.

7. Accounting Firm Near Me: Accessible and Reliable Services

If you are searching for a trusted accounting firm near me, 3E Accounting Malaysia - Kuala Lumpur HQ is the perfect choice. Our centrally located headquarters in Kuala Lumpur ensures easy accessibility for businesses across the region.

We utilize the latest accounting software and digital tools to ensure our services are efficient, transparent, and accessible. With cloud-based solutions, we also provide remote support to clients, enabling real-time collaboration and updates.

As your trusted accounting firm, we focus on helping you manage your finances seamlessly, ensuring compliance while driving growth.

[myindustrialspecialist]

15th November 2024 Learn the key requirements for obtaining a manufacturing license in Malaysia, benefits like tax exemptions, and why a license from MIDA is essential for legal operations and growth in the manufacturing sector. How to Obtain a Manufacturing License in Malaysia: Requirements and Benefits To operate legally in Malaysia’s manufacturing sector, companies meeting certain criteria must secure a manufacturing license from the Malaysia Investment Development Authority (MIDA). The license requirement, as outlined by the Industrial Coordination Act (ICA) of 1975, supports Malaysia’s goal of achieving structured and sustainable growth in the manufacturing industry. Not having a manufacturing license when required can result in fines, imprisonment, and further penalties, making compliance crucial for manufacturers in Malaysia. Key Manufacturing Activities Requiring a License According to ICA, manufacturing encompasses the following activities: manufacturing, making, altering, blending, finishing, and other treatments to articles intended for sale, transportation, or disposal. It also covers the assembly of parts and ship repairs. However, retail and wholesale trades are excluded from these requirements. Additionally, certain activities are exempted from requiring a manufacturing license, including: Milling of oil palm fresh fruit into crude palm oil Production and processing of raw natural rubber and latex in various forms Milling of paddy into rice Requirements for Obtaining a Manufacturing License In 2019, MIDA introduced updated eligibility criteria for the manufacturing license application. The following are necessary conditions: Capital Investment Per Employee (CPE): The minimum CPE for the project must be RM140,000. Local Workforce Requirement: At least 80% of the full-time workforce must be Malaysians. Additionally, 25% of employees in managerial, technical, or supervisory roles must have a degree, diploma, or certificate, or the added value of the product should be 40%. Additionally, the company must meet one of these basic criteria: Shareholders’ Funds: Minimum of RM2,500,000 in shareholders' funds Full-time Employees: Employ at least 75 full-time paid employees Exemption Conditions For companies with fewer than 75 employees or shareholders’ funds below RM2.5 million, MIDA allows an exemption from the manufacturing license requirement. These companies may submit an ICA 10 form to obtain an exemption letter. However, once they meet the capital or workforce thresholds, they must apply for a manufacturing license as the exemption letter does not replace the official manufacturing license. Why a Manufacturing License is Important A manufacturing license provides more than just regulatory compliance. It opens the door to several benefits, including: Import Duty Exemptions: Exemptions on import duty for raw materials and components, reducing production costs. Pioneer Status (PS): Offers tax exemption of 70% to 100% of statutory income for five to ten years. Investment Tax Allowance (ITA): This allowance provides 60% to 100% on qualifying capital expenditure over five to ten years for equipment, machinery, factory investments, and other expenses related to the approved project. These benefits encourage growth, reduce costs, and support long-term expansion for manufacturing businesses. The Application Process MIDA’s Client Charter states that applicants can expect interim approval within four weeks of submitting all necessary documentation. After receiving the interim approval letter, companies must complete the documentation process to finalize the manufacturing license application. Conclusion For foreign and domestic manufacturers in Malaysia, understanding and adhering to the licensing requirements under the Industrial Coordination Act is essential for both compliance and business growth. A manufacturing license from MIDA

not only ensures legal operations but also opens doors to tax incentives and allowances that benefit the company’s bottom line.

[spin4bvbx]

A Complete Guide to Managing Taxes, Savings, and Vehicle Registrations

Navigating financial responsibilities and regulatory processes, such as income tax filing, retirement savings, and vehicle registration, can be overwhelming. With new digital tools, Malaysians now have access to a range of options that simplify these essential tasks. In this guide, we cover the latest insights and tools related to managing your income tax, retirement contributions, and even buying a unique car number plate online.

Understanding Income Tax LHDN and How to File Efficiently Filing Income Tax Lhdn is an annual requirement for all eligible Malaysians. The Inland Revenue Board of Malaysia, commonly known as LHDN (Lembaga Hasil Dalam Negeri), manages income tax filing in Malaysia. The tax system is based on self-assessment, which means it is the taxpayer's responsibility to declare all sources of income accurately and file returns on time. This process may seem complex, but LHDN provides various resources and guidance to help Malaysians understand their obligations.

To determine your taxable income and amount owed, LHDN offers a tax calculator on its website. This tool simplifies the filing process, enabling taxpayers to calculate their dues based on their annual income. For those seeking additional support, LHDN offices provide in-person assistance, or you can opt for private tax advisory services.

Timely filing is essential to avoid penalties, and understanding deductions, exemptions, and reliefs can significantly reduce your tax burden. For instance, certain charitable donations, education expenses, and medical bills are tax-deductible, which can lead to considerable savings. Staying up-to-date with LHDN announcements and utilizing their resources ensures you fulfill your tax obligations efficiently.

How to Use the KWSP Calculator for Retirement Planning Planning for retirement is crucial, and the KWSP (Kumpulan Wang Simpanan Pekerja), Malaysia’s Employees Provident Fund, is designed to support this goal. Contributing to KWSP is mandatory for salaried employees and optional for self-employed individuals. The fund helps Malaysians build their retirement savings, providing a monthly income post-retirement.

The calculator KWSP tool is invaluable for Malaysians looking to estimate their retirement savings. This tool allows you to simulate different contribution levels, helping you visualize your projected retirement funds based on your current income and contribution rate. By adjusting the inputs, you can experiment with different savings plans to see how they might impact your long-term financial security.

To use the calculator effectively, enter details such as your current monthly salary, KWSP contribution rate, and any voluntary additional savings. The tool will then project the amount accumulated over the years until retirement. Regularly checking in on your savings plan with this calculator ensures that you’re on track to meet your retirement goals.

Increasing your contributions or making voluntary deposits can help build a larger retirement fund, potentially allowing you to retire earlier or with more financial security. For those who can afford it, contributing above the mandatory rate can significantly improve their retirement outlook.

Buying a JPJ Number Plate Online In Malaysia, owning a unique vehicle plate number is a popular way to personalize your car. Many Malaysians are willing to pay a premium for attractive, easy-to-remember, or meaningful plate numbers. The JPJ (Jabatan Pengangkutan Jalan) has embraced online technology, allowing Malaysians to buy JPJ number plate online.

Purchasing a special number plate was once limited to physical visits to JPJ offices or through third-party brokers. Now, you can log into the JPJ’s official eBid platform, search for available numbers, and place bids online. This digital system is more accessible and transparent, letting buyers participate in an auction-like environment from anywhere in Malaysia.

The online bidding platform makes it easy to browse through available plates. It displays the base price for each number, and prospective buyers can bid accordingly. Once the bidding period closes, the highest bidder secures the plate. The online system is designed to be user-friendly, offering an overview of the entire process, from registration to payment, and issuance of your unique plate number.

Acquiring your plate through JPJ's online system has the added benefit of legitimacy and convenience, as buyers can avoid the risk of counterfeit transactions and ensure their plate registration is recognized by JPJ.

Tracking the Latest JPJ Plate Numbers For car enthusiasts, knowing the latest available license plate numbers is an exciting way to stay updated on new registration series. JPJ regularly releases new series, and each series follows a standardized format based on location and sequence. Tracking the latest JPJ plate numbers is also helpful for anyone looking to secure a specific combination of characters for a new vehicle.

JPJ's website or the eBid platform provides up-to-date information on the current plate series. Additionally, social media and third-party automotive websites often announce newly released series, making it easier for enthusiasts to be among the first to bid. Staying on top of these updates allows you to place bids early for plates in high demand.

Securing a fresh plate number, especially one in a new series, can add value to your vehicle, as rare or early-release plates are often considered more desirable in Malaysia. Some Malaysians even see these unique plate numbers as investment opportunities, given the high resale value associated with rare combinations.

[technonews-biz]

GMI Cloud is building a new GPU infrastructure

The boom in artificial intelligence has created a huge demand for graphics processing units (GPUs). As many enterprises are looking to integrate artificial intelligence technologies into their systems, GPU infrastructure providers help them get access to the chips they need.

Cloud infrastructure

GMI Cloud, a San Jose-based startup that provides GPU cloud infrastructure, raised 82 million dollars in a Series A led by Headline Asia and strategic investors such as Banpu, a Thailand-based energy company, and Wistron, a Taiwan-based electronics company. Banpu will offer GMI Cloud capacity, while Wistron will develop products with the startup. The strategic partnership expands the company's ability to meet the growing global demand for GPUs, GMI Cloud founder and CEO Alex Ye told TechCrunch. The investment round, which brings the total capital raised to 93 mln dollars, consists of 15 mln dollars in equity and 67 mln dollars in debt financing.

Company launch

The company, which launched in 2022, started as a data center focused on providing Bitcoin compute node services. In an exclusive interview with TechCrunch, Ye said he noticed a growing demand for GPU computing power from investors and customers, and in response, shifted the company's focus to cloud-based artificial intelligence infrastructure.

Ye said the two-year-old startup already serves dozens of customers, including those in healthcare, research and telecommunications. The corporation plans to use the funding to build a new data center in Colorado. The facility will be needed to expand the company's capacity in North America and will complement existing data centers in Taiwan, Thailand and Malaysia. The company also plans to expand to 60-70 employees by the end of the year. The startup now has 35 employees in Asia and 18 in the US.

According to a recent McKinsey report, artificial intelligence could bring about 13 trillion dollars to the economy by 2030, of which the industrial sector will account for about 1 trillion dollars. According to a report by Grand View Research, the global artificial intelligence market will reach 1.8 trillion dollars by 2030.

Cloud processor vendors

GMI Cloud is not the only cloud GPU vendor. It competes with Coreweave, Nebius, Google Cloud's Vertex AI and major tech companies. Ye told TechCrunch that GMI Cloud differentiates itself from competitors with features such as customizable private cloud services and native support for Nvidia NIM, which simplifies integration with Nvidia hardware and software. He also noted that the company has a team of top-notch artificial intelligence engineers and high-performance computing (HPC) experts with experience in GoogleX, Alibaba Cloud and Supermicro.

“Our team has more than 20 years of experience in artificial intelligence and high-performance computing,” said Ye, who has 33 patents in artificial intelligence and extensive experience in building large-scale distributed systems. “GMI also offers professional artificial intelligence consulting services, helping enterprises train, customize and scale models, which is rarely offered by competitors.”

Cost-effective solution

GMI offers a cost-effective solution that provides optimized performance and resource management over competitors, supporting enterprises with end-to-end solutions from GPU hardware to artificial intelligence applications, Ye emphasized.

“In addition, we have a significant supply chain advantage by purchasing directly from manufacturers, allowing us to maintain a cost-effective and highly reliable supply chain,” Ye continued. “In addition, GMI is the only cloud service provider in Taiwan certified by Nvidia under the NCP/NPN program, further strengthening our competitive advantage in providing premium cloud services.”

[irwinfin]

ANZ Car and Equipment Finance For Small Businesses

From dental equipment for a private practice to dump trucks and earthmoving machinery for construction, having the right assets is vital for business success. However, specialised equipment is expensive and can put a dent in cash reserves.

ANZ’s flexible finance solutions can help with this. They provide a full funding solution to acquire asset purchases, with repayments structured around periods of higher cash flow to help manage cyclical cashflow.

ANZ’s Rapid Replacement process

ANZ’s Rapid Replacement process lets clients borrow to purchase equipment and vehicles for their business. This is a great option for businesses that need to upgrade or replace their equipment but don’t have the cash on hand. This product offers a competitive interest rate and allows businesses to pay off their loan with a flexible payment schedule.

This process is available for secured and unsecured loans. It also includes a streamlined application process that simplifies the approval process. This saves businesses time and effort, while reducing stress. ANZ also offers an online calculator that helps to calculate loan repayments.

ANZ’s simplified application process makes it easier for small business owners to apply for a business loan. It allows businesses to provide a minimum of 12 months of business bank statements and self-declare their financial position. ANZ can then assess the client’s ability to repay the loan and approve it quickly. This is in contrast to other lenders who require detailed personal information and BAS statements.

ANZ’s Business Banking Specialists

ANZ Business Banking Specialists proactively build and grow relationships with small businesses and provide solutions to meet their needs. They offer a range of products and services, including ANZ E*Trade, online banking, international transactions, credit cards, and loans. These specialists also collaborate with colleagues to help clients.

Whether you need a new car or equipment for your company, there are many benefits of investing in asset finance. With low interest rates and a flexible repayment structure, you can afford to pay for your asset over a term that suits your budget. You can also use this form of financing to buy a boat or caravan for your personal use.

ANZ is an award-winning bank in Australia and New Zealand. Its branch network and call centres are extensive. It is a leading provider of financial and banking services for consumers, small businesses, corporates, and governments. It has earned Canstar’s Bank of the Year | Small Business award for five consecutive years.

ANZ’s Online Application

ANZ’s online application is easy to use. It lets you manage your finances at any time, including setting up direct debits, making payments to suppliers and employees, and importing transaction files from most accounting software packages. You can also access detailed domestic, foreign currency and credit card account information. It also features payee templates and bulk payment options, as well as built in audit history.

ANZ has been around for more than half a century, and it is one of Australia’s most established financial services companies. Its core values include showing care for everyone, exploring innovative work styles, using data to improve, and actively welcoming feedback.

ANZ offers personal and business banking solutions, as well as insurance products. The company also provides corporate finance and investment management, and operates a network of over 400 branches across Australia and New Zealand. ANZ also has a presence in Asia through investments in Malaysia’s AMMB Holdings, China’s Shanghai Rural Commercial Bank and Vietnam’s Saigon Securities Incorporation.

ANZ’s Mobile App

ANZ offers a wide range of personal banking and financial services including bank accounts, home loans, credit cards, wealth management services, insurance, and more. In addition to ANZ’s traditional banking products, it also offers mobile applications for its customers.

The ANZ App includes a number of useful features, such as the ability to make payments using PayID and to schedule future or recurring payments. It can also be used to view account statements and personalised insights. Customers can also use the ANZ App to track their spending with ‘Money Tiles’ and to save money with multiple savings goals.

The ANZ App is designed to be accessible for people with disabilities. For example, it can be downloaded to an iPad and customised to include larger text and voice-activated ‘OK to pay’ functionality. The ANZ App is available for download from the Apple App Store and Google Play. It is free to download but terms and conditions apply.

[fincrew]

Government Business Grants: What You Need To Know

Do you need funding for your startup? We'll explore something everyone dreams of free money or securing a grant from the government. The Malaysian government offers many financial aids and grants to help small and medium businesses. You can save your business from bankruptcy with these grants and financial assistance. You can also use it to boost the growth of your business. Here is a list of grants available to small and medium businesses in Malaysia.

Soft Loans For SMEs (SLSME)

If you're a startup or an SME that's relatively young, check out SLSME. With this business grant from the government of Malaysia, you can get up to RM5 million in funding. You will have access to the range of offerings based on the purpose of the grant, so the amount you can receive varies. To qualify for Soft Loans for SMEs, register as one of the following; - Small and medium-sized enterprises incorporated under the Companies Act of 1965. - Businesses incorporated under the 1956 Business Registration Ordinance. - Malaysians held at least 60% of the equity. - Possess a valid premises license. - Owns SMEs with a shareholding of no more than 20% held by public companies; if applicable, only. A significant focus of SLSME is the manufacturing industry and manufacturing-related services, excluding financial and insurance services. Wage Subsidy Programme (WSP 3.0) It is a financial aid program designed to help SMEs or enterprises registered with MCOs pay salaries and wages. Because of the pandemic, there was a reduction in income, so companies had to sack employees or reduce their payouts. A newly-introduced WSP 3.0 is for all companies to help these groups. There is an employee subsidy of RM600 available for every SME or MSME. Employees with a salary of more than or equal to RM 4,000 are eligible to make claims, and no more than 500 employees can. Targeted Loan Repayment Assistance (TRA) Malaysia's government launched the Targeted Loan Repayment Assistance (TRA) program to help small, medium, and micro enterprises hit by the epidemic. TRA is also available to individuals, solopreneurs, and SMEs. Following the pandemic, SMEs will have six months to repay their debts through Targeted Loan Repayment Assistance. If the loan bearer wants to pay the loan in three installments over three months, they can do so if the loan amount is up to RM 150,000. Alternatively, the loan bearer can extend the payment period to 6 months with a 50% monthly installment reduction. A Targeted Loan Repayment Assistance application is readily accepted. You must submit it to the bank that issued you the loan. A business doesn't need to maintain bank connections. Bumiputera Enterprise Enhancement Programme (BEEP) The Bumiputera Enterprise Enhancement Programme, better known as BEEP, is a specialized SME funding program in Malaysia aimed at helping Bumiputera SMEs become more competitive, resilient, and dynamic. They help increase productivity and offer solutions to SMEs by strengthening their core business and capacity. BEEP provides financing solutions to Bumiputera SMEs, including: - Training - Packaging and labeling - Certification and Quality Management System - Innovation - Advertising, Promotion, and Branding SMEs who qualify for this grant can apply through SME Corporation Malaysia. PERMAI Special Prihatin Grant (GKP) The Special Prihatin Grant is a grant that is available to micro, small, and medium-sized businesses. The funding is for assisting these businesses financially and helping them grow. First announced in 2020, the grant is available to micro, small, and medium businesses. You can receive RM 500 if you are a micro, small, or medium enterprise. According to the Malaysian government, one million businesses will benefit from the grant.

Bottom Line

Malaysian government grants intend to provide SMEs with access to help when needed. Government efforts aim to boost the economy. Thus, government grants are positioned and launched in a way accessible to businesses. These grants are easily accessible to all businesses needing financial assistance, and they maintain grant eligibility relatively. Additionally, government officials assist struggling businesses when they cannot apply. It is even possible for a company to leverage the benefit of a grant without even being registered. Read the full article

[kirankumar166]

EPF Procurement Ariba COM

EPF Procurement: Streamlining Operations with Ariba

The Employees’ Provident Fund (EPF) is a vital social security program in Malaysia, providing retirement benefits for millions of employees. Streamlining procurement processes is essential to ensure the smooth and efficient operation of this massive organization. This is where SAP Ariba comes into the picture.

What is SAP Ariba?

SAP Ariba is a cloud-based procurement platform that revolutionizes how organizations manage their sourcing, contracting, and supplier relationships. It offers tools to automate and optimize procurement processes, leading to increased efficiency, cost savings, and improved compliance.

How EPF Benefits from Ariba

EPA’s adoption of SAP Ariba has brought a range of advantages for their procurement operations:

Centralized Procurement Platform: Ariba provides a centralized hub for all EPF’s procurement activities. This creates a single source of truth, enhancing transparency and visibility into spending patterns.

Streamlined Processes: Ariba automates many of the manual and time-consuming procurement tasks, such as sourcing, tendering, contract management, and supplier onboarding. This saves time and resources, allowing EPF to focus on strategic initiatives.

Enhanced Supplier Collaboration: Ariba facilitates seamless communication and collaboration between EPF and its suppliers. This enables faster issue resolution, stronger partnerships, and improved supply chain performance.

Improved Compliance: Ariba’s built-in compliance features ensure that EPF’s procurement processes adhere to relevant regulations and internal policies. This minimizes risk and protects the organization’s reputation.

Data-Driven Decision Making: Ariba provides robust analytics and reporting capabilities. EPF can use these insights to make informed decisions about its procurement strategy, optimize spending, and negotiate better supplier deals.

EPF Suppliers and Ariba

For suppliers who work with EPF, the Ariba platform offers several benefits:

Easier Access to Opportunities: Suppliers can easily view and respond to sourcing events and tenders from EPF within the Ariba Network.

Streamlined Communication: Ariba provides a dedicated channel for communication between suppliers and EPF, ensuring a timely and efficient exchange of information.

Faster Payments: Ariba integration with EPF’s financial systems can lead to speedier invoice processing and payment cycles.

Increased Visibility: Ariba gives suppliers a better understanding of their performance and areas for improvement within their relationship with EPF.

Conclusion

Implementing SAP Ariba has been a transformative step for EPF’s procurement operations. By automating processes, improving collaboration, and providing data-driven insights, Ariba has enabled EPF to achieve greater efficiency, cost savings, and compliance. As EPF continues to leverage the power of Ariba, we can expect further optimization and innovation in its procurement practices, ultimately contributing to the organization’s overall success in serving the Malaysian workforce.

You can find more information about  SAP ARIBA in this  SAP ARIBA Link

 

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[coffeebotholdings]

How CoffeeBot is Revolutionizing the Office Coffee Culture

CoffeeBot is your go-to destination for commercial office coffee machines available for rent in Malaysia. Our company is the premier provider of commercial office coffee machines. Our high-tech machines ensure that a perfect cup every time, offering a delightful respite from the daily grind. Discover how our top-notch machines can transform your workplace coffee culture:

Premium Coffee Solutions

High-tech Machines - CoffeeBot offers quite a few modern commercial workplace coffee machines, making certain the ideal cup on every occasion.

Tailored to Your Needs - Whether you prefer a swish espresso machine or a versatile bean-to-cup machine, we've the best solution in your office space.

Hassle-Free Rental Experience

Convenient Rentals - Renting a coffee machine from CoffeeBot is short and smooth, with bendy condo plans to deal with your finances and desires.

Maintenance Included - Rest assured understanding that preservation and servicing are blanketed to your apartment package, making sure seamless operation always.

Elevate Office Morale and Productivity

Enhanced Breaks - Treat your employees to top-class coffee breaks with CoffeeBot's commercial office coffee machines, boosting morale and productivity.

Office Perk - Providing pleasant coffee in the workplace demonstrates your dedication to worker pleasure and proper being.

Cost-Effective Solution

Budget-Friendly - Renting a coffee machine from CoffeeBot is a cost-powerful opportunity to purchase, allowing you to revel in top-rate espresso without overspending.

No Upfront Investment - With condominium options available, there may be no want for sizable upfront funding, making it an appealing preference for corporations of all sizes.

Convenient and Reliable Service

Prompt Delivery - CoffeeBot guarantees set-off shipping and setup of your chosen espresso gadget, minimizing downtime and disruption in your workplace.

Responsive Support - Our group is committed to supplying remarkable customer service, with responsive help available to address any queries or worries.

Contact us today to learn more and take the first step closer to transforming your place of business espresso subculture.

[internationalrealestatenews]

[ad_1] Building of North Bay Village's first new apartment tower in a decade has halted, greater than 14 flooring up. Employees have been absent from the job web site since December, and greater than a dozen liens have been positioned in opposition to the developer, Pacific & Orient Properties, The Actual Deal you've got realized. The 21-story, 54-unit constructing, named after its deal with at 7918 West Drive, was anticipated to be accomplished within the first half of subsequent yr. Simply two days after Christmas, Thornton Residential, the overall contractor, positioned a lien for almost $7 million in allegedly unpaid work, data present. Liens have been additionally filed by subcontractors starting from plumbing and concrete to job web site security. In mid-January, a cooling firm in search of about $79,000 filed a lawsuit in opposition to the developer. Picture of stalled North Bay Village's apartment tower In a letter that North Bay Village employees despatched to the fee in January, the town stated the positioning superintendent notified the town that building was shut down simply earlier than the vacations. “They hope to start out issues up once more someday in January 2024, however that timeframe is versatile,” the town wrote. “We weren't offered a cause for his or her stopping building.” Building has stalled for some South Florida tasks in recent times, partly because of the rising price of financing, provides, labor and delays related to building. North Bay Village Residents flooded a Fb group final month to specific their considerations about the way forward for the challenge and security within the rapid space. Mayor Brent Latham stated he has by no means had direct contact with the developer, which secured its approvals earlier than his time period started in 2018. Latham is not anxious, although. “I do not anticipate it'll stay unfinished as a result of there are a number of events who've expressed curiosity in buying the positioning,” he informed TRD, declining to call potential patrons. “We're out of land in North Bay Village.” He stated the developer has remained updated with the town by way of funds for additional time police and the rental of parking areas. Thye Seng Chan, CEO of Pacific & Orient Properties, is in Malaysia and was not accessible for remark, in accordance with a consultant who answered the cellphone on the gross sales heart. His public relations agency stated its “providers have been paused.” A consultant for Pacific & Orient didn't reply to a LinkedIn message for remark. Chan has been engaged on plans for the challenge for nearly a decade. The developer paid $8.3 million for the 0.8-acre web site in 2015. Building was set to start in 2018, however the agency broke floor a yr in the past. In August, Pacific & Orient tapped Berkshire Hathaway HomeServices EWM Realty to deal with gross sales of the challenge after the brokerage presold a few of the items. Pre-sales soft-launched when building started in February of final yr. Costs vary from $2 million to greater than $17 million. Models are anticipated to vary from about 1,700 sq. toes to simply over 7,000 sq. toes. The quiet city, sandwiched between Miami and Miami Seashore, has attracted billionaire builders in recent times. “I do not assume you would need to look far,” to seek out potential patrons for the 7918 West Drive web site,” the mayor stated. The Ansin household's Sunbeam Properties, led by CEO Andy Ansin, plans a significant mixed-use improvement north and south of the 79th Avenue Causeway, which bisects the city. Harry Macklowe's Macklowe Properties and Associated Group are additionally engaged on an meeting on Harbor Island, which incorporates the litigious buyout of a waterfront co-op known as Biscayne Sea Membership. The builders started closing on items final yr. MTTR mgmt is the architect designing 7918 West Drive. Tokyo-based One Designs Co. was taped to design the foyer. The constructing is about

to incorporate a Zen backyard, yoga areas and a communal gourmand chef's kitchen, the developer stated throughout a gathering final yr. The constructing will embrace a 148-space parking storage, 16 storage items and 15,000 sq. toes of frequent house. The challenge marks Pacific & Orient's first in North Bay Village. The corporate, with workplaces in Kuala Lumpur, London and Bangkok, is a part of the Pacific & Orient Group conglomerate. It has holdings in insurance coverage, data expertise, lending and start-ups. [ad_2] Supply hyperlink

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What are the basic features of free payroll software in Malaysia?

In the bustling business landscape of Malaysia, efficient HR management is paramount. HR software Malaysia, particularly online payroll software, plays a pivotal role in simplifying payroll processing and ensuring compliance with labor laws. Small and medium-sized businesses, in particular, often seek cost-effective solutions, which is where free payroll software in Malaysia comes into play. In this blog, we will delve into the basic features that businesses should look for when considering free payroll software in Malaysia, with a focus on HR software Malaysia.

1. User-Friendly Interface: A fundamental feature of any payroll software is its user interface. It should be intuitive and easy to navigate. Free payroll software in Malaysia should cater to users with varying levels of technical expertise, making it accessible to HR personnel and business owners alike. An intuitive interface ensures that payroll tasks can be executed efficiently without the need for extensive training.

2. Employee Management: Effective payroll management starts with accurate employee data. A robust free payroll software in Malaysia should allow you to easily add and manage employee profiles. It should store essential information such as employee names, contact details, employment status, and salary details. This feature streamlines the payroll process by eliminating the need for manual data entry.

3. Automated Payroll Calculations: Automation is a key feature to look for in any payroll software. The software should be capable of automating payroll calculations, including salaries, overtime, bonuses, and deductions. This not only saves time but also reduces the risk of errors in payroll processing, ensuring employees are paid accurately and on time.

4. Statutory Compliance: Adherence to Malaysia's labor laws and taxation regulations is crucial. A reliable free payroll software in Malaysia should stay updated with the latest legislative changes. This includes handling EPF (Employees' Provident Fund) and SOCSO (Social Security Organization) contributions, as well as generating statutory reports such as the EA Form and PCB (Monthly Tax Deduction) calculations.

5. Reporting and Record-Keeping: Comprehensive reporting capabilities are essential for both HR management and compliance purposes. Look for software that can generate various reports, such as payslips, income tax reports, and payroll summaries. Additionally, it should offer features for securely storing historical payroll data for future reference and audits.

6. Security Measures: Protecting sensitive employee data is paramount. Free payroll software in Malaysia should include robust security measures, such as data encryption and access controls. This ensures that confidential information is safeguarded against unauthorized access or data breaches.

7. Scalability: While you might be a small business today, it's crucial to choose payroll software that can grow with your business. Scalability allows you to easily add more employees and adapt to changing payroll needs as your company expands.

8. Customer Support: Lastly, consider the availability of customer support and resources provided by the software provider. Even with free payroll software, it's important to have access to assistance in case of technical issues or questions regarding software functionality.

In conclusion, when searching for free payroll software in Malaysia, businesses should prioritize essential features like a user-friendly interface, employee management, automation, statutory compliance, reporting capabilities, security measures, scalability, and reliable customer support. By selecting the right HR software Malaysia for your payroll needs, you can streamline your HR processes, ensure compliance, and facilitate efficient payroll management.

[kazifatagar]

ADIA-Led Consortium Moves to Privatize MAHB in $4.2 Billion Deal, Reshaping Malaysia's Aviation Landscape

The Abu Dhabi Investment Authority (ADIA), in collaboration with Khazanah Nasional Berhad, the Employees Provident Fund (EPF), and Global Infrastructure Partners (GIP) under the consortium named Gateway Development Alliance (GDA), launched a bid to privatize Malaysia Airports Holdings Berhad (MAHB). This move aims to acquire all remaining shares not already owned by the consortium at RM11 per…

[kritikapatil]

Pension Administration Software Market Unidentified Segments – The Biggest Opportunity Of 2022

Advance Market Analytics released a new market study on Global Pension Administration Software Market Research report which presents a complete assessment of the Market and contains a future trend, current growth factors, attentive opinions, facts, and industry validated market data. The research study provides estimates for Global Pension Administration Software Forecast till 2027*.

A pension administration software is a fully integrated, browser-based software system with comprehensive functionality for administering pension benefits. It is designed to help organizations plan and administer employee benefits packages and ensure compliance with government regulations. Increasing demands being put on administrators and schemes teams as a result of ongoing governmental and regulatory change are fully supported through Altair and our portfolio of balancing solutions and consultancy services is booming the demand for the pension administrator software in the market.

Key Players included in the Research Coverage of Pension Administration Software Market are

Aquila (United Kingdom)

Oracle (United States)

SAP(Germany)

Visma (Norway)

DATEV(Germany)

UNIT4 (Netherlands)

Version Systems (Australia)

SYNEL MLL PayWay (United Kingdom)

L&P Systems (United Kingdom)

Capita (United Kingdom)

Civica (United Kingdom)

Equiniti (United Kingdom) What's Trending in Market: The rise in cloud and mobile deployment drives

Challenges: Lack of awareness of new technologies and capabilities in core HR software Regional difference in labor law

Opportunities: Increasing population aging is a worldwide phenomenon and government policies and pension schemes are booming the market demand

Market Growth Drivers: The projected growth of the pension fund sector across the globe

Increasing adoption of pension administration software in HR processes

The Global Pension Administration Software Market segments and Market Data Break Down by Type (Public Pension, Private Pension), Deployment Mode (Cloud, On-premises), Services (Open Pension Fund Management, Closed Pension Fund Management, Other Pension Fund Management, Others), End User (SMEs, Large Enterprises, Government) To comprehend Global Pension Administration Software market dynamics in the world mainly, the worldwide Pension Administration Software market is analyzed across major global regions. AMA also provides customized specific regional and country-level reports for the following areas. • North America: United States, Canada, and Mexico. • South & Central America: Argentina, Chile, Colombia and Brazil. • Middle East & Africa: Saudi Arabia, United Arab Emirates, Israel, Turkey, Egypt and South Africa. • Europe: United Kingdom, France, Italy, Germany, Spain, Belgium, Netherlands and Russia. • Asia-Pacific: India, China, Japan, South Korea, Indonesia, Malaysia, Singapore, and Australia. Presented By

AMA Research & Media LLP

[myindustrialspecialist]

15th July 2024 Business Premise Licence for Factory or Warehouse in Malaysia Learn about the essential business premise license for factories and warehouses in Malaysia, including types, application processes, and consequences of non-compliance. To start a business in Malaysia, you must possess a valid business license. Pihak Berkuasa Melesen (PBM) will accept applications for business licenses according to your business location and activity. Whether it is a general license, an industry-specific license, or an activity-specific license, all companies must have at least one. Registrations, approvals, licenses, and permissions fall under this category. The regulations for compliance change depending on the sector, type of companies, and region. Foreign nationals who want to establish a private company in Malaysia should be aware of the type of license that must be obtained. What Are the Different Types of Business Licenses Malaysia You Need to Know Businesses that operate without the necessary licensing bear a significant amount of liability. It is essential to understand the various licenses required in Malaysia to begin a business in Malaysia. General Licenses General Licenses include the necessary licenses and will apply when the investor decides to start a business in Malaysia. List of general licenses that apply to all businesses:- Company Registration Company and Employees Income Tax Registration Employees Provident Fund (EPF) Social Security Organisation (PERKESO) Human Resources Development Fund (HRDF) Business Premise Licenses and Signboard Licenses (rental or sale and purchase agreement is needed) Businesses in Malaysia are required to submit applications to the appropriate local authority for business premises permits and signboard licenses. Every local government may have different application criteria. Industry Specific Licenses An industry-specific license is a permit for a particular industry or sector that the government has identified. This comprises the regulations that control the growth of a specific industry or sector in accordance with the changes in governmental policy. Here is the list of some Special License examples including the governance body respectively according to industry available in Malaysia:- Manufacturing – Manufacturing License from Malaysian Investment and Development Authority (MIDA). Distributive Trade – Wholesale and Retail Trade (WRT) License for Trading, Import and Export, Consultancy, and Restaurant Business Management from Malaysian Ministry of Domestic Trade and Consumer Affairs (MDTCA) or KPDNKK. Telecommunication and broadcasting – Publication License for Magazines and Books / Broadcasting License for Music, Singing, TV, and Radio from Malaysian Communications And Multimedia (MCMC). Banking – Central Bank License for Banking, Financing, and Leasing from Bank Negara Malaysia. Construction – Construction Industrial Development Board and Engineering License from Construction Industry Development Board (CIDB). Oil Exploration - Business Licensing & Procurement from Petronas. Activity Specific Licenses Licenses that control specific activities and may apply to one or more sectors or industries are known as activity-specific licenses. For this license, the investor must abide by detailed rules created to safeguard the public interest, employment, worker safety, environment, and citizen interest. Examples of Activity-Specific Licenses are:- Certificate of Fitness for Certified Machinery Approval for Expatriate Posts Authorization to install/resite/alter Air Pollution Control Equipment Building Plan Approval Sales Tax License How to Apply for Factory or Warehouse Business Premise License in Malaysia Factory or Warehouse Business Premise Licenses have normally involved the Local Authority Licensing Department and 3 external departments which are Department of Occupational

Safety and Health (DOSH), Department of Environment (DoE) and Fire & Rescue Department (BOMBA). These 3 external departments must be approved before continuing with the Local Authority Licensing Department. Documents Needed by the Department of Occupational Safety and Health (DOSH) Key plan, site plan, and location plan Architectural plan including the location of machinery and equipment shown Paid-up capital and annual sales turnover Workers detailComplete list of machinery and equipment with details Main materials to be used Types of wasted materials whether solid, liquid or gas (if any) Brief description of waste handling and waste disposal Documents Needed by the Department of Environment (DoE) Key plan, site plan and location plan Architectural plan including the location of machinery and equipment shown Complete list of machinery and equipment with details Filled out AS PAT form (Preliminary Site Assessment for Development Project) which includes: Type of application Land use in accordance with Planning Zone Conceptual plan (if applicable) Raw materials used and product Schedule of operation Production process with a relevant diagram attached Fuel supply, energy and process water usage information Pollution information with pollutant types stated and point of emission/discharged indicated in process flow diagrams Waste disposal process Documents Needed by the Fire & Rescue Department (BOMBA) Key plan, site plan and location plan Architectural plan including the location of machinery and equipment shown Occupant load calculation Fire appliances access indicated Location of fire hydrant shownArchitectural plan of change/addition of structure Active and passive fire safety installation Local Authority Licensing Department The application process and requirements for Factory or Warehouse Business Premise Licenses may vary among different Local Authority Licensing Departments, but letters of support from DOSH, DoE, and BOMBA are required. The Consequences of Not Having the Correct Permits and Licenses for Your Business It's no secret that businesses need the correct permits and licenses to operate. But what are the consequences of not having them? Let's explore some of the potential penalties business owners face if they don't have the appropriate permits and licenses. Forced to Close Should a business remain working without a permit, the government may have it shut down. Now and again, licenses can be obtained. Should the local authority decline the long desired permit, it may take a year or more for the business then to revive. Penalties and Fines It's illegal to operate without a permit, especially depending on what the business is, the area, and their requirements for authorization. For example, an accountant who consults without the appropriate authorization is considered a small offence in contrast to an over-the-street shipping company without a permit. The accountant might face fines, charges and possible back expenses from the local authority. The shipping company might deal with fines or costs from a local jurisdiction as well as from the state and federal. Tarnished Reputation In the event that a business is operating without a permit, this may provide an occasion for nearby customers to feel qualms about the business' ethical or even practical capacity to work. The customers may then create the impression, if a business does not follow laws to work lawfully, it does not follow consumer orders either. Get the Right Permits and Licenses Related to Your Business With MY Industrial Specialist Before you can begin operating your business in Malaysia, you’ll need to obtain the correct permits and licenses from the relevant authorities. The process of obtaining a business premise license for a factory or warehouse can be daunting, but our team at MY Industrial Specialist is here to help.

If you’re looking to set up a factory or warehouse in Malaysia, WhatsApp us today – we’ll be happy to help you through the process and make sure everything is taken care of correctly. Our expertise ensures you get a property that meets your specifications and budget. We stay updated on the latest trends and insights, helping you spot strategic locations and suitable industrial properties. Contact us at myindustrialspecialist for more information and to start your factory investment journey.

[spin4bvbx]

Navigating LHDN Tax Filing and JPJ Matters in Malaysia

In Malaysia, understanding the intricacies of tax obligations and vehicle registration can be daunting for many individuals and businesses alike. This article aims to provide a comprehensive guide on LHDN tax filing, navigating the JPJ no plat system, and understanding the importance of KWSP Malaysia contributions, as well as the updates regarding the JPJ latest number plate.

Understanding LHDN Tax Filing LHDN, or the Lembaga Hasil Dalam Negeri, is the Malaysian government agency responsible for tax collection. For many Malaysians, LHDN tax filing is an annual ritual that requires careful planning and organization. It’s crucial to understand what forms to fill out, the deadlines to meet, and the deductions you can claim to minimize your taxable income.

Individuals and businesses must keep accurate records of their income, expenses, and other relevant financial documents throughout the year. This diligence not only simplifies the filing process but also ensures compliance with Malaysian tax laws. For individuals, the deadline for filing tax returns typically falls on April 30 for those who do not have business income, while businesses usually have until June 30.

Engaging in LHDN tax filing online has made the process significantly more efficient. The e-filing system allows taxpayers to submit their returns easily, track their submissions, and receive confirmation promptly. This technological advancement has reduced the burden of manual paperwork and has improved the accuracy of submissions. Moreover, by filing electronically, taxpayers can often receive their tax refunds faster than traditional filing methods.

The Importance of JPJ No Plat In Malaysia, every vehicle must have a registered number plate, known as the JPJ no plat. The registration process is handled by the Jabatan Pengangkutan Jalan (JPJ), the Malaysian Road Transport Department. The number plate not only identifies a vehicle but also signifies that the vehicle has met all legal requirements, including insurance and road tax.

The JPJ no plat is essential for law enforcement and traffic management. It serves as a tool for identifying vehicles involved in accidents, traffic violations, or any unlawful activities. Therefore, ensuring that your vehicle is registered with a valid number plate is crucial for legal compliance and safety.

In recent years, the JPJ has introduced various initiatives to modernize the registration process. Online applications and renewals for vehicle registration have become commonplace, allowing vehicle owners to manage their registration status without the need to visit a JPJ office physically. This convenience is particularly beneficial for busy individuals who may find it challenging to allocate time for these administrative tasks.

KWSP Malaysia: A Pillar of Retirement Planning Another significant aspect of Malaysian financial responsibilities is the KWSP, or Kumpulan Wang Simpanan Pekerja, which is the Employees Provident Fund. The KWSP Malaysia is a mandatory retirement savings scheme that requires both employees and employers to contribute a portion of their monthly salary to the fund. This initiative aims to provide financial security for workers after they retire.

For employees, understanding the contributions to KWSP Malaysia is crucial. The current contribution rate is set at a percentage of the employee's salary, and this rate can vary depending on the employee's age and monthly earnings. Employers are also required to match these contributions, making it a joint effort towards securing a stable financial future.

The benefits of KWSP Malaysia extend beyond retirement savings. Members can also withdraw funds for specific purposes, such as purchasing a home or funding education. The KWSP provides various schemes and options for its members to utilize their savings effectively, ensuring that they can meet their financial needs at different stages of life.

Keeping Up with JPJ Latest Number Plate Updates For vehicle owners, staying updated on the JPJ latest number plate regulations is vital. The JPJ frequently releases new series and formats for number plates, reflecting changes in regulations or administrative requirements. Knowing these updates can help vehicle owners maintain compliance and avoid penalties.

In addition to regulatory updates, the introduction of new designs or themes for number plates can also provide vehicle owners with a sense of personal expression. Custom number plates, while subject to certain regulations, allow individuals to showcase their personality or interests. However, these custom plates often come with additional fees and require proper application through the JPJ.

For those looking to acquire a new vehicle or replace an old number plate, understanding the process for obtaining the JPJ latest number plate is essential. The application process typically involves submitting relevant documentation, including proof of identity, vehicle ownership, and payment for registration fees. With the option to manage many of these processes online, the JPJ has made it easier for vehicle owners to stay compliant.

Conclusion In conclusion, navigating the complexities of LHDN tax filing, understanding the JPJ no plat requirements, contributing to KWSP Malaysia, and keeping abreast of the JPJ latest number plate developments are critical aspects of financial and legal compliance in Malaysia. As individuals and businesses engage with these systems, they not only fulfill their responsibilities but also pave the way for better financial planning and stability in the long term. By remaining informed and proactive, Malaysians can ensure they are equipped to handle these essential aspects of their lives effectively.