...you are planning on doing business in Malaysia knowledge of the investment environment and information on the legal, accounting and taxation framework are essential to keep you on the right track. Doing business in Country Name Contents Page Foreword Country Profile Regulatory environment Finance Imports Business entities Labour Financial reporting and audit Contact details 1 2 4 6 7 8 10 13 18 Doing business in Malaysia 1 Foreword SJ Grant Thornton is a member firm within Grant Thornton International. SJ Grant Thornton was established in 1974 and ever since, has progressed expeditiously in every aspect. We provide innovative, yet practical advice in a range of assurance, tax and specialist services to privately held businesses and public interest entities. Today, we are ranked as one of the leading accounting and consulting firms in Malaysia. We operate from our main office in Kuala Lumpur and other offices in Penang, Johor Bahru and Kuantan. Grant Thornton International is one of the world's leading organisations of independently owned and managed accounting and consulting firms providing assurance, tax and specialist advice to privately held businesses and public interest entities. The strength of each local firm is reflected in the quality of the international organisation. All Grant Thornton International member firms share a commitment to providing the same high quality service to their clients wherever they choose to do business. This guide has been...
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...International Business Malaysia Abstract This abstract will include some information about our research in a briefly way to show more about Malaysia and its transnational corporations. First, we will talk about the role of transnational corporations (TNCs) in the Malaysian economy with specific attention to its environmental implications, and regulatory measures. We will discuss the role of transnational corporations (TNCs) in the Malaysian economy, its environmental implications, and regulatory measures to shield harmful effects. Second, we will also conclude that while environmental considerations did not appear very important in the relocation of TNCs to Malaysia, there is evidence of environmentally inferiority in Malaysia. However, it appears that many TNCs have new environmental practices in place, and that a number of TNCs have environmental management in the country. And as a conclusion, we will include the major sectors of transnational corporations in Malaysia and the main obstacles that affect it through the global business. Criteria 1) Starting Business Many foreigners were confused as to which is the right entity they should have to start their business in Malaysia. Starting a business in Malaysia takes only 11 days. There are overwhelming questions facing by foreigners especially Malaysia is totally new to many. * My Business nature, is it eligible for foreign ownership? * Which is the best recommended tax structure for my...
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...Trading environment is by nature government implication of the host country in the trade relationship with the hosted company; It can be positive and facilitate commerce with encouraging and low tariff and non-tariff barriers, as well as liberalization. Also, the financial environment is the business by which money is transferred among business, government and people and is function of financial and currency stability which are closely link to consumption and inflation which support your market size. It has an impact on currencies, exchange rate and it is supported by organizations such as WTO, or IMF. Finally, geography is the easiness of using resources by some geographical evidence of the country, as well as population, is a market size and a element to take into account when targeting and assessing its potential. In Malaysia, trading environment is pressing and leads for the company as a strong barrier for trade because of tariff and non-tariff barriers (para-tariff measure, price control…) of the intended business, and of strong inflows due to a large-scale policy easing, that tend to financial instability, increased exchange rates and asset prices in the host country. Likewise, the financial environment is slightly deteriorating. Depreciation of the currency would tackle external competitiveness, and therefore decrease standards of living of the citizen (rakyat) resulting in paying higher import prices for a product. But it is not the only factor, and as a consequence...
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...Hollys Coffee based in Korea, starting business in Singapore. Brief Background of Company Hollys Coffee is a specialty coffee company headquartered in Korea. The company was established in 1998 and opened Korea's first espresso shop that year. Its shops offer espresso, coffee, tea, coffee- and tea-based cold and hot specialty drinks, a variety of pastries and other snacks, and coffee supplies. By 2008 there were more than 100 Hollys Coffee shops in Korea, and the franchise had expanded with additional stores in Japan, China and Malaysia. It has a barista academy called the Hollys Coffee Academy. Home Country: Korea South Korea has a market economy which ranks 15th in the world by nominal GDP and 12th by purchasing power parity (PPP), identifying it as one of the G-20 major economies. It is a high-income developed country, with a developed market, and is a member of OECD. It is a country filled with rich culture and heritage. All thanks to the influences of Korean pop to all over the world, there are more people getting more interested in Korean culture and heritage. We can seize the opportunity to start the business and learn to speak a little of their language can be useful to us as well. Other financial organizations like the World Bank describe Korea as one of the fastest-growing major economies of the next generation along with BRIC and Indonesia. South Korea was one of the few developed countries that was able to avoid a recession during the global financial crisis...
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...CASE STUDY MALAYSIA ECONOMIC STRUCTURE SUMMARY THE CASE Malaysia has emerged as a multi-sector economy in the 21st century from being a producer of raw materials until 1970. Efforts are being made by the government to promote value-added production by luring foreign investment in pharmaceuticals, technology industries and medical technology. Some major industries in Malaysia are electronics, electrical products, chemicals, food and beverages, metal and machine products and apparel. Malaysian exports played primary role in the country’s economic growth. In the last two decades of the 20th century, Malaysia experienced an annual GDP growth of 7% along with low inflation. In 2009, the nominal per capita GDP stood at US$6,761 and the nominal GDP at US$191.4 billion. However, given the openness of its economy with trade accounting for about 200 percent of gross domestic products (GDP), Malaysia was not spared from the negative effects of the United States economic slowdown and global electronics downturn; These were manifested in declining manufacturing production and negative export growth, particularly of electronics. Nevertheless, concerted efforts initiated by the government since the 1997/98 Asian financial crises to stimulate economic growth through accelerating domestic economic activities and reducing the over-dependence on exports helped the nation to sustain a positive real GDP growth, albeit at a modest rate of 0.4 percent in 2001 (2000: 8.3 percent). This growth...
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...Dwi Puspita Sari Utami - 014201000141 May 1, 2012 “Getting Paid in Malaysia” - Global Business Communication Miftah Zikri M,Sc. The reason why Rah-Tel paid Grober instead of King Tool is because Malaysia is the RF country. In a country which has RF business behavior, face-to-face contact is very important. Even though the telecommunication has been developed very fast such as video-conference, fax, and cell phone, in RF country they still prefer to meet someone in person. When Rah-Tel sends a letter to both Grober and King Tool, they get respond from both of them. But they give a different respond; King Tool replied by an e-mail and the Grober with several phone calls and decides to come to Malaysia. Here, I think Grober give the best respond because to deal with an RF business behavior you have to deal it face-to-face. Since the Grober’s executive has come to Malaysia to talk about the payment, they have made a very good move. Because of that, they have made a good relationship between Grober’s and Rah-Tel. And since the Rah-Tel are Malaysian which are RF country, relationship are very important. In RF markets, when they have a problem, they prefer to discuss it in a forum or meeting rather than a (written) contract. In the case of King Tool, they make a direct respond which are not good to deal with RF country. Therefore, Rah-Tel prefers pay to Grober Export instead of King Tool. It is simply because they feel closer with the Grober’s executive. Bibliography Arvey, R...
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...cannot live alone without others people. They must communicate with each other. Language is the way of communication. Therefore, the purpose of this paper is to show to the people how to communicate with each other in different background especially in Global Business Communication. The expectation is the readers will learn how to using and understand the way people communicate, base on every aspect of their background. Business definition itself is a commercial activity engaged in as a means of livelihood or profit, or an entity which engages in such activities (WebFinance, 2012). In this paper, there will be the research and analyzing personal behavior and attitudes in a country and the relationship with others country. The countries that will be research and analyze are: Indonesia-Malaysia, Indonesia-China, Indonesia Singapore. Chapter II: Research The research divided into three groups: Indonesia-Malaysia, Indonesia-China, Indonesia-Singapore. Because those countries located in the same area that is Asia and also because those countries is Relationship-Focused Country, and there’s so much interesting about issue that happened in those countries, so that will be more challenge working on it. Indonesia-Malaysia Firstly this is more...
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...on criteria that have been stated in guidelines to conduct a training for 10 days in order to complete the task given in this assignment. After much consideration, I has choose a company named Honda Malaysia Sdn. Bhd (Private Limited Company) which a partnership company between Honda Motor Co. Ltd. of Japan, DRB-HICOM Berhad and Oriental Holdings Berhad. This company origin is from Japan. Private Limited company describe as a company that offers limited liability, or legal protection for its shareholders but that places certain restrictions on its ownership. These restrictions are defined in the company's by laws or regulations and are meant to prevent any hostile takeover attempt. As a first step for UMK students, the Faculty Entrepreneurship and Business have created a subject called Student in Enterprise Programmed (SIEP) where all students University Malaysia Kelantan business faculty must enroll in the subject. SIEP is an exceptional project to be carried out by the students for 10 days. Students can choose any company to do business and work there to gain experience in business and how to run a business. SIEP is the early exposure of students to the business world. Through this project, students can gain experience and have greater knowledge concerning the world of business. I personally gained many benefits through this assignment and get to know more about how a company being operated and how they handle their daily operation. I can explore how this company handle their...
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...of Business Law 2012 - 2013 Legal Risks in Emerging Markets – Evaluation and Mitigation Legal Risks in Emerging Markets – Evaluation and Mitigation Student’s ID number | 000090 | Module name | International Aspects of Business Law | Module code | 6241170 | Tutor | Eldor Mannopov | Individual assignment | x | Group assignment | | Submission deadline | 13 March, 2013 | For Academic Registrar use only | TABLE OF CONTENTS: INTRODUCTION 3 DEFINING LEGAL RISK LEGAL RISKS IN INTERNATIONAL TRADE LEGAL RISKS COUNTRY PROFILES 4 - MALAYSIA - THAILAND 5 - VIETNAM 7 - CAMBODIA 8 CONCLUSION 9 REFERENCES 10 ITRODUCTION: Cowan PLC specializes in producing copper tubing. Following globalization and internationalization tendencies the company is currently considering an option of exporting its products to the new markets in the following countries: Malaysia, Thailand...
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...AND CHALLENGES OF MANUFACTURING IN MALAYSIA Recently, manufacturing industries in Malaysia grow very rapidly if compared to previous decades. With the rapidly grow of manufacturing industries, the government has to play its role in order to ensure every aspect of current trading policies and regulatory to be obeyed. Other than that, this will ensure that the current trading and manufacturing environment in Malaysia to be peaceful yet globally competitive. In this report, a number of importance and challenges faced by manufacturing sector in Malaysia will be focused on. The scope of this report only covers the situation in Malaysia manufacturing environment and at the same time, it will explain some benefits that our nation can get from the cooperation with developed countries such as Australia and Japan. Manufacturing Sector in Malaysia and its Importance To start with, manufacturing sector in Malaysia contributes almost 80% of overall country’s export and besides, Malaysia also known as the 17th largest exporting nation in the world [1]. For that reason, Malaysia’s government has to work hard in order to maintain, preserve and enhance our manufacturing sector. From [1], it is stated that products manufactured in Malaysia are accepted in developed countries such as US, EU and Japan. This shows that our manufacturing sector already achieved a level that can be proud of. Due to exporting her product to other countries, Malaysia has to obey some regulations in a...
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...the importance of this area, our group has been choose to do research in this area, to prove how much is important woman entrepreneurship in social life of Malaysia. Further, it was reported by the Ministry of Women and Family Development (2003) that Malaysian women entrepreneurs are under-represented in the business world with evidence that some undesirable development where micro-enterprises which were scaled up to bigger enterprises were subsequently managed and taken over by the husbands or other family members (Jariah & Laily, 1997). Besides that, the number of Malaysian women who make it to the international market is still small (Rafidah, 2005). They are urged to charge their mindset in line with the changing of times in the business world and are advised to start producing quality products which are capable of penetrating the global market (Azlan, 2005). 2.0 Introduction The present report is an overview on the results of our survey that was carried out in the frame of the title “INVOLVEMENT OF WOMEN IN SOCIAL ENTREPRENEURSHIP”. The main aim of the survey was to find out what problems have women to start their entrepreneurship in social life, or what influence them to start their business. Also, we can say that Malaysia presents an exciting site for this survey in several ways. At first look, Malaysia can be seen as a society divided by intense ethnicity, religion, and culture...
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...appointed Tom Chong as Malaysia country manager, who has been promoted into an important leadership role within the international chain of Jextra grocery stores. Chong is responsible for the oversight of all operations in Malaysia and has been instructed to pursue a strategy of “aggressive growth” within this potential market. After eight months of employment, Chong begins to encounter an undercurrent of unethical behavior surrounding Jextra and is forced to anticipate what actions if any he will take to address two unjustified situations. Chong’s initial concerns pertain to his meeting with the mayor of a Malaysian town called Klang, which is located near the country’s capital. Klang is not yet zoned for commercial purposes, but otherwise represents a seemingly perfect location for expansion. During a meeting regarding this potential store site, the mayor proposes that Jextra should contribute to a local primary school fund and incur some of the costs associated with road and electricity development near the Klang. Chong is unsure about the legality and logistics of theserequested donations, and he doesn’t know if they are a prerequisite to gaining zoning permission.His suspicions are further aroused when he learns thatthe mayor’s sister is in the school board and major supporters of primary school fund, and that the road development planning was underway months before Jextra expressed interest in breaking ground in Klang. According to Jextra’s Business Conduct Code, “it is...
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...debt level was estimated at 215% of GDP in 2013.Besides financial problem, China also have serious challenges in environment. Air and water pollution has become a major public health issue in the country.The last challenges in 2014 is the corruption’s problem ,it seriously increasing among the Communist Party. According to this article, China’s president has launched an anticorruption campaign for this unethical problem . In closing, Fareed Zakaria says that ,he not ready to bet against China if China’s leader did not manage this transition well.If China’s leaders manage this transition well.the country will emerge stronger and more stable and become the largest economy in the world. INTRODUCTION International business is much more complicated than domestic business because countries differ in many ways. (Charles W.L.Hill, 2013) .China has become the world's second largest economy, with Japan surrendering its 42-year-old ranking after its economy shrank in the final months of 2010 (Moore, 2011). The country also has claimed since as early as 2008 that it either was, or was imminently poised to become, the world’s second-largest economy. While it has...
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...This report focuses on Malaysia. Some of the key issues that I would like to highlight in this forum are: the influence of globalization on International Business Trade for Malaysia, the roles of ASEAN Free Trade Agreement (AFTA) policies for ASEAN trade collaboration and competition, the macro environmental factors that international business should focus upon before launching market expansion, the roles of government in supporting international trade such as Foreign Direct Investment, how government should assist their businesses in competing in global arena either by protectionism or subsidizing, why has International Franchising strategy has work and what are the industries that have utilized this strategy for expansion successfully and why international business executive should pay attention to cultural influence in business negotiation process particularly Malaysia. Influence of globalization Globalization is taking significant role in many nations around the world. All products and services are strongly linked to each other. For example, different parts of computer can be manufacture in different location and assemble in China to save cost. Both developed and developing countries such as Malaysia are cautious of its benefits not only socioeconomically but also geopolitically. Realizing this, Malaysia has started to take initiative in globalization approach in the 21st century. For example, the export of Thai rice and sugar to Malaysia, telecommunication equipment...
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...Graduate Studies Programme Universiti Utara Malaysia Thank you for choosing Universiti Utara Malaysia as your centre for excellence. While filling in the form, please pay attention to the following: • Fill in the form in block letters using a black pen or a typewriter; • All sections must be filled in. State “not applicable” wherever necessary. The completed application form must be submitted with the following documents: i) Proof of payment for processing fee of RM100.00 (for Malaysian applicants)/ USD35.00 @ RM125.00 (for ASEAN applicants)/ USD50.00 @ RM175.00 (for NON ASEAN applicants). Payment can be made by the following method: a. Online payment via e-commerce (e-com) link on the web www.uum.edu.my . Choose payment mode credit card (Mastercard/Visa) or FPX (if you are an internet banking user). Attach the printed receipt to the application form; or b. at any branch of Bank Islam Malaysia Berhad (BIMB) use the using Bill Payment Slip. Specify payee code 340 in the column “pay for” in the Bill Payment Slip; c. Where there is no BIMB branch, payment can be made by Money Order in favour of Bendahari Universiti Utara Malaysia. d. Any payment from outside Malaysia can be made through Telegraph Transfer as below: Bank name : Bank Islam Malaysia Berhad Account number : 02093010000010 (there are 14 digits) Bank branch/address : Bank Islam Malaysia Berhad (BIMB) UUM Branch ...
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