Categories
Featured Ideas & Insights

Mandatory Sustainability Reporting

Mandatory Sustainability Reporting

MANDATORY SUSTAINABILITY REPORTING REQUIREMENT

1. Singapore Stock Exchange Sustainability Reporting Requirement

Annual Report issued for financial year ended on Financial Year Ended 2017。

2. Bursa Malaysia Sustainability Reporting Requirement

Businesses in the tourism industry such as travel agencies, hoteliers and airlines will be given a deferment of their monthly tax instalment payments for six (6) months from 1 April 2020 to 30 September 2020.

 

This will affect instalment payments from 1 April 2020 to 30 September 2020 and the Inland Revenue Board (IRB) clarified in their media release dated 9 March 2020, that an application for the deferment has to be made via a manual form to the Tax Operations Department of the IRB.

Narrative Statement (i)

Detailed Disclosure (ii)

Annual reports issued for financial years ending on or after.
Main Market listed issuers with market capitalisation as at 31 Dec 2015:
≥ RM 2 billion
31 Dec 2016
31 Dec 2016
RM1 – 2 billion

31 Dec 2017

31 Dec 2017

≤ RM 1 billion

31 Dec 2017

31 Dec 2018

ACE Market:

All listed corporations
31 Dec 2018

N/A

Notes:

  • Narrative statement of the management of material economic, environmental and social risk and opportunities
  • Detailed disclosure includes the governance structure, scope of sustainability statement and the management of EES risks and opportunities

WHAT WE DO

More and more stock exchanges recognised the important of Sustainability Reporting and require all the listed companies to disclose their ESG performance as non-financial performance reporting to satisfy the greater demand of transparency from stakeholders. We can assist you in developing your ESG reporting. Our key services include: –

 

  1. Stakeholder engagement
  2. Sustainability reporting and disclosure
  3. Environment, health & safety
  4. Policy advisory
  5. Report assurance

OUR SELECTED TRACK RECORDS AND TEAM EXPERIENCES

RGT Berhad
Harbour-Link Group
SDS Group Berhad
Malaysia Steel Works (KL) Bhd
Engtex Group Berhad
ARB Berhad
SCGM Berhad
KPS Consortium Berhad
Bonia Corporation Berhad
Sin Heng Chan (Malaya) Berhad
KSL Holdings Berhad
PCCS Group Berhad
Inta Bina Group Berhad
Perusahaan Sadur Timah Malaysia (Perstima) Berhad
K. Seng Seng Corporation Berhad
Perak Transit Berhad
Categories
Featured Ideas & Insights

Why Labuan Foundation is Best Choice in Asia as Private Wealth Management Vehicle?

Why Labuan Foundation is Best Choice in Asia as Private Wealth Management Vehicle?

Labuan Foundation is probably one of the Best Choices in Asia as your wealth management vehicle. While there are 21 jurisdictions worldwide which have Foundation Acts to govern wealth management activities, Labuan which is governed by the Labuan Foundation Act 2010, remains the ONLY jurisdiction in Asia. As such, your assets are protected under its own jurisdiction from the local or foreign claims and cannot be liquidated forcefully.

 

Labuan Foundation has other Silent Features as private wealth management vehicle as below:

Labuan Company Carrying on a Labuan Business Activity
  • A corporate body with a separate legal entity
  • Provided by the Labuan Foundations Act 2010
  • Established to manage its own property for any lawful purpose, be it for charitable or non-charitable purposes
Structure (Example)
Why Labuan Foundation-Structure

Control

Founder has extensive control.

Confidentiality

End beneficiaries is anonymous.

Capital Transfer

No capital requirements. Minimum endowment of USD1.00 as an initial asset at time of establishment.

Nationality

No requirement for founder/councillor.

Appeal Against Transfer By Creditors

Only within the first two years of registration.

Appeal Against Inheritance Provisions

No appeal possible because of foreign laws.

Foreign Claim Or Judgment

Unenforceable

Rights And Powers Of A Founder

Enshrined via the charters.

Holding Of Malaysian Assets For Non-charitable Foundations

May hold with Labuan FSA’s approval.

Involvement Of Corporate Body

Allowed to be appointed as :

  • Founder
  • Council (Can be natural person or a corporation)
  • Officer (Can be natural person or a corporation)
  • Beneficiary

Duration

Fixed or perpetual.

Dissolution

Assets returned to designated party.

Ownership Of Foundation’s Asset

Beneficiary has no legal or beneficiary ownership over the foundation’s asset.

Taxation On Income

Under Income Tax Act 1967 if include Malaysian property.
Categories
Featured Ideas & Insights

Mergers & Acquisitions

Mergers & Acquisitions

M&A Advisory Services

In the fast-changing global business environment, corporates nowadays face more formidable challenges than before in mergers or acquisitions. ShineWing focuses on the needs of corporates and helps clients to effectively navigate complexities throughout the transaction lifecycle, so as to achieve your objectives of overseas market development and business expansion.

ShineWing provides M&A advisory services for international clients in domestic and cross-border transactions. We offer comprehensive one-stop service at every stage of the transaction, tailored to the specific needs of different types of clients.

Transaction Process

1. Transaction Planning Stage

At the early stage of the transaction, we can provide our clients with timely and comprehensive recommendations and devise the best and effective solutions customised for you, helping you to capitalise on opportunities. Our professional services include, but are not limited to:

  • Identify M&A target or joint venture partner both locally and internationally
  • Conduct thorough investigation of the target
  • Develop the plan for market entry and evaluate project feasibility
  • Formulate M&A strategies

2. Transaction Execution Stage

Regardless of the size and complexity of the transaction, ShineWing can provide all-round advice on transaction negotiation and execution, helping clients to realise the best value. Our professional services include, but are not limited to:

(i) Financial and Tax Due Diligence

To minimise the risks associated with the accounting and tax issues of the transactions, ShineWing performs in-depth due diligence.

 

Financial Position

  • Understand shareholding structure
  • Analyse the structure and trends of profitability and costs
  • Analyse assets and liabilities in detail
  • Assess drivers behind profits and cash flows
  • Conduct an integrated analysis of the target’s financial condition, capital structure, business performance and potential

 

Tax Position

  • Identify financial and tax issues, and provide recommendations on mitigation
  • Advise on M&A tax structuring

 

Risk Control

  • Perform sensitivity analysis of revenue projections
  • Highlight key success factors and risk factors
  • Analyse the solutions to the related risks

(ii) Valuation

  • Carry out comprehensive valuation of businesses and assets of the target
  • Adjust purchase price based on the valuation result
  • Review the target’s financial model
  • Assess the rationale of the assumptions
  • Apply appropriate methodologies based on the nature of the deal
  • Provide independent and objective views on valuation

(iii) Deal Advisory

  • Act as the financial advisor to the buy side or sell side
  • Formulate deal negotiation strategy and manage the transaction process
  • Organise meetings and support deal negotiations
  • Devise and build efficient transaction structures
  • Coordinate with different professional services providers on due diligence
  • Assist in seeking government authority approval
  • Assist in the preparation of Sales and Purchase Agreement and develop the financial and commercial terms for the transaction

(iv) Commercial Due Diligence

Commercial due diligence focuses on conducting extensive and in-depth analysis of the target and collecting opinions from industry experts.

 

Market and Regulatory Environment

  • Evaluate market size and growth drivers
  • Analyse demand, supply and the elasticity of price change
  • Review government regulations and industry policies
  • Review regulatory risks and recommend risk mitigation strategies

 

Suppliers and Customers

  • Review the target’s supplier selection criteria
  • Evaluate the quality of the target’s customer base and growth potential
  • Assess the value proposition to customers and identify any unmet needs

 

Competitors

  • Define the competitive environment in which the target operates and the competitive intensity
  • Analyse the market share of the competitors

 

Target

  • Assess the business plan and growth strategy of the target
  • Evaluate management capability

3. Post-Transaction Stage

ShineWing can also help clients with the post-merger integration and optimisation. We provide various kinds of follow-on services and help you to build sound and effective management systems according to your needs. Our professional services include, but are not limited to:
  1. Corporate Structure
    Review the corporate structure and develop an effective strategy for integration or restructuring.
  2. Risk Management and Internal Control System
    Devise risk management and internal control policies for the parent company and the new entity, and set up consistent and transparent systems.
  3. Accounting Systems and Financial Reports
    Establish standardised accounting systems and apply unified accounting policies and procedures to the financial reports.
  4. Information System
    Integrate information management systems, with emphasis on management effectiveness of smooth operation.
  5. Human Resources
    Develop proper human resources solutions for the newly merged company, such as employee retention plan, performance and pay structure and human resources integration programme.
  6. Subsidiaries Management
    Establish effective management framework for subsidiaries, with emphasis on the enterprise management system and financial system of the subsidiaries.

Our Credentials in M&A Advisory Services

Over the years, our professional teams have accumulated a wealth of experience in different industries. We can provide all-round support throughout the transaction for clients spanning a range of sectors all over the world, focusing on the unique characteristics and needs of each industry.

 

The areas where ShineWing has been involved in cross-border M&A deals:

 

North America

  • A Hong Kong listed company acquired a resort in Canada
  • One of the global largest independent investment management firms invested in an environment technology company in the United States

 

South America

  • A chemical engineering company in Chile acquired a supplier in China

 

Europe

  • A leading digital map provider in China acquired a provider of automotive navigation services in Holland
  • The largest footwear manufacturing group in Germany sought partnerships in China
  • An electronics group in Sichuan, China intended to acquire a consumer electronics distributor in 11 European countries
  • A large automotive company in China intended to acquire an engineering company in Europe
  • One of the largest providers of fuel retailing solutions in Europe intended to acquire a fuel equipment supplier in China

 

Africa

  • A China and Africa investment fund invested in a logistics company in Africa

Strengths of ShineWing

1. International Network

ShineWing has over 7,000 professionals worldwide. Leveraging the resources of our member firms, our professional teams have in-depth M&A knowledge, with a good understanding of different local markets as well as global vision, offering genuinely international services to our clients.

2. Global Experience

ShineWing has extensive experience in transnational and cross-border transactions. We have successfully assisted our clients in different industries to complete several hundreds of international M&A and investment projects, covering Asia, Australia, Europe, Americas, Africa, etc.

3. Leading Position

ShineWing was named as one of the Top 20 global accounting networks and had been awarded the Rising Star Network by the International Accounting Bulletin (IAB). ShineWing is also widely recognised by statutory and professional institutions. We have offices in at least 24 major cities in China. ShineWing is the leading professional services provider in Asia Pacific.

4. Praxity Global Alliance

ShineWing is a member of Praxity, which has participating firms in over 100 countries operating out of over 690 offices globally. We work closely with Praxity to provide comprehensive international M&A advisory services. We can cater to the needs of clients at different stages, ranging from searching for M&A targets to providing due diligence and tax advisory services.

Categories
Featured Ideas & Insights

Why Considering Outsourcing as You Have Bigger Fish to Fry

Why Considering Outsourcing as You Have Bigger Fish to Fry

Why You Should Consider Staff Placement Services

Why considering staff placement services? Today the business is dynamic, you might want to fully redeploy your human resources towards a more important business task to achieve your strategic goals and objectives, by leveraging our highly skills and experienced human resources to assist your organisation’s statutory compliance, you can focus on your operation in more efficient and effective way.

We have pool of professional staff with knowledge, experience and expertise to assist your internal fuction (i.e accounting, administrations, human resources etc.). We are able to assign our professional staffs to your office for a certain period as per your business needs. Our staff placement services will help you in the following situations:-

  • You need temporary replacement after your staff has resigned;
  • You need professional and experience staff to clear accounting backlogs and get your accounts updated;
    • unidentified and unmatched trade spend and goods return
    • long outstanding and accumulated suspense, clearing, other debtors and creditors account balances,
    • bank statement reconciliation or monthly/annual accounts.
  • You are facing peak period which is temporary in nature (e.g annual budgeting, rapid expansion etc) and need extra hands to expedite the process;
  • Your existing staff participate in special projects (such as restructuring, merger, acquisition, listing exercise, system migration etc) and require temporary helping hands to focus on routine functions;
  • Your existing staff are on long leave due to illness, personal reasons or temporary re-assignment;
  • You need highly skills, experience professional and reliable staff that will always ensure your organisation are in full compliance with regulatory requirement in an accurate and timely mannerly;
  • You are at early stage companies and rarely require full-time accounting employees for accounting task as the worload is small.

What Benefits Our Staff Placement Services to Your Business

  • Redeploy your valuation human resources to a more important business task to achieve your business strategic goals and objectives;
  • Minimum re-training costs on the changes of GST/VAT, Accounting Standards and other relevant regulation and acts;
  • Lower your fixed costs on maintaining a pool of compliance teams; and
  • Lower recruitment costs on hiring your compliance team;

What We Do

  • Accounting Services and Function
  • Payroll Services and Human Resource Administration
  • Outsourcing CFO Functions
  • Compilation of Unaudited Financial Statement
  • Preparation of filing XBRL (Extensible Business Reporting Language)
  • Provision of Treasury Functions
  • Executive Recruitment and Search

Why ShineWing TY TEOH

  • Our staff strength combine Singapore, Malaysia, UK, and Australia Chartered Accountants;
  • More than 150 experienced accounting professionals who bring the different set of technical skills and expertise and with different industry experiences;
  • Strong track records, e.g. delivered more than 10,000 financial report;
  • Experienced in handling BPO in different countries’ governing law and jurisdiction.
Categories
Ideas & Insights

Malaysia My Second Home (MM2H) Programme

Malaysia My Second Home (MM2H) Programme

Malaysia My Second Home (MM2H) 马来西亚第二家园

Malaysia My Second Home (MM2H) Programme is a special programme promoted by the Government of Malaysia to allow foreigners to obtain a five (5) years (renewable) social visit pass to stay in Malaysia.

 

我的马来西亚第二家园计划是㇐项由马来西亚政府大力推动与 支持的㇐项特别计划,让符合特定条件的外籍人士获得有效期 限为 5 年 (并可更新)的多次入境社交签证,以便长期居留在 马来西亚。

Why MM2H 为什么选择马来西亚第二家园计划?

  • Open to citizens of all countries recognised by Malaysia regardless of race, religion, gender or age;
  • Principal applicants are allowed to bring their spouses, unmarried children below the age of 21 and the parents above the age of 60 as dependants;
  • No residence requirements (no minimum days required to stay in Malaysia);
  • Over 42,000 applicants from around the world.
  • 开放给所有受马来西亚承认的国家公民,且不受种族、宗 教、性别或年龄限制;
  • 申请者被允许携带其配偶及21岁以下未婚子女以及60岁以 上的父母入境;
  • 没有居留期要求(无移民监);
  • 超过 42,000 来自世界各国的马来西亚第二家园计划参与 者。 `

Why Malaysia 为什么选择马来西亚?

  • World-class healthcare standard with a large number of professional training in world-renowned institutions;
  • International school with international syllabus and well connected with universities around the world;
  • Multicultural living environment;
  • Chinese is also widely used other than English;
  • Tropicana climate with no natural disasters and stable politic and economic;
  • Participant allow to purchase real estate;
  • High quality of living environment with low cost of living.
  • 世界级医疗设备及拥有数量众多在世界知名机构专业培训 的医护人员;
  • 拥有与国际大学衔接的国际学校;
  • 多元文化的生活环境;
  • 除了英语和华语也是普遍使用
  • 气候稳定无天灾和政治经济稳定;
  • 计划参与者可以购买不动产;
  • 高品质生活环境及低廉的生活消费。

WHY ShineWing TY TEOH 为什么选择信永中和迪威?

ShineWing TY TEOH is a leading regional chartered accountants, tax, transfer pricing, valuation and consulting group with office presences in Malaysia to provide a diverse spectrum of business solutions and consulting services to public listed companies, Fortune 500 companies, multi-national corporations, local small and medium companies representing a cross section of major industries.


信永中和迪威是㇐所领先的区域会计事务所, 在马来西亚设有办事处,为上市企业,财富 500 强企业,跨国企业及中小型企业 提供多种业务解决方案与服务包括会计,税务与商业咨询。

Shinewing logo

Member firm of ShineWing International
– Top 20 international accounting network and association.

信永中和国际成员所 – 会计公告发布的全球 20 大国际会计师事务所联盟


www.shinewinginternational.com

praxity

Member firm of Praxity
The world’s largest alliance of independent accounting firms.

PRAXITY 国际成员所 – 全球最大独立会计 师事务所联盟

 

www.praxity.com

WHAT WE OFFER 我们的专业服务

MM2H REQUIREMENT (UPON APPLICATION)

Aged above 50
Aged below 50
  • Signed agreement with MM2H authorised agent
  • Same
  • Applicants are required to show proof of liquid assets worth of minimum RM350,000
  • Applicants are required to show proof of liquid assets worth of minimum RM500,000
  • Offshore income of RM10,000 per month or annual income of RM120,000
  • Same
  • For those who have retired, they are required to show proof of receiving pension from government RM10,000 per month.
  • Same

MM2H REQUIREMENT (UPON APPROVAL)

Aged above 50
Aged below 50
  • Open a fixed deposit account of RM150,000
  • Proof of receiving pension from government RM10,000 per month
  •  Open a fixed deposit account of RM300,000
  • Maintain a minimum balance of RM100,000 from second year onwards and throughout stay in Malaysia under this programme
  • Maintain a minimum balance of RM150,000 from second year onwards and throughout stay in Malaysia under this programme

MM2H PROGRAMME STATISTIC

2002 to 2018 Top 10

People’s Republic of China
12,881

Japan

4,778

People’s Republic of Bangladesh

4,135

United Kingdom

2,691

Republic of Korea

2.378

Islamic Republic of Iran

1,399

Republic of Singapore

1,459

Republic of China (Taiwan)

1,396

Islamic Republic of Pakistan

1,087

Republic of India

1,047

Others

9,020