Our Services

To be a successful business, it is vital that business owners and managers have access reliable financial information on a timely basis. However, as a small business owner you have more important things to do than to keep your own books. We’re focused on providing you with services that help you focus on your care business, this means we assist in providing the peripheral infrastructure you need to suite your needs and help your business function smoothly.

Our accounting & bookkeeping services in this area includes:

•    Setting up a computerised accounting system
•    Recording the transactions into the accounting system based on the documents and information provided
•    Preparation of monthly, quarterly and yearly management report
•    Preparing the bank reconciliation statement and other account reconciliation
•    Process the payment of employee expense claims and vendor invoices
•    Cash Flow Management & Forecasting
•    Review management accounts
•    Clear backlog problem and update records
•    Preparation of schedule for audit purpose and assist in liaision with auditors

(a) Company Incoporation

Our firm provides full range of company secretarial services to our clients who need assistance to comply with the requirements of the Malaysia Companies Act, 2016.

All companies established in Malaysia are required to have at least one Company Secretary and that company secretary must be a natural person and a resident in Malaysia and is a member of any one of the prescribed professional bodies or licensed by the SSM.

Our corporate secretarial services in this area includes:  

•    Registration of Private Limited Companies (Sdn Bhd)
•    Provision of named company secretary by our qualified professional staff (Malaysian)
•    Provision of registered office address
•    Provide assistance to Board and Shareholders’ meetings
•    Preparation of Annual Report, Shareholders’ Circulars and Statutory Submissions
•    Preparation and filing of statutory returns in compliance under the Companies Act
•    Proper maintenance of statutory records such as Minutes and Register Books
•    Safekeep company common seal (if any)
•    Routine advice on matter pertaining to the Companies Act requirements and company secretarial practice
•    Provision of advisory & discussion with clients on the above related services

(b) De-registration of Company (Striking Off) or (Winding Up/Liquidation)

Companies can be closed down either by “Striking Off” or “Winding Up/Liquidation“. Winding up and striking off both result in a company ceasing to exist. However, they are very different processes and should not be confused with each other.

•    Strike off the company’s name at Suruhanjaya Syarikat Malaysia (SSM)
•    Liquidation of companies either by Members’ Voluntary Liquidation, Creditors’ Voluntary Liquidation or Court Winding Up

STRIKE OFF

Striking off is a more straightforward process whereas Liquidation can be categorized into 3 different types namely Members’ Voluntary Liquidation, Creditors’ Voluntary Liquidation and Court Winding Up. When a company is in Liquidation, the Liquidator takes control of the company.

Section 551 of Companies Act 2016 grants the rights to the shareholders of the company to apply to SSM to strike off the company provided that the following conditions are met:

1. 1. The company has NOT commenced business since incorporation or is NOT carrying on business or ceased business operations for quite some time;
2. 2. The company has NO intention to commence or carry on its business or operation in the future;
3. 3. The company has NO assets and liabilities including outstanding charges in the Register of Charges;
4. 4. The company has insufficient funds to pay for winding up expenses;
5. 5. The company has NO outstanding penalties or offer of compounds under the Companies Act 2016;
6. 6. The company has NO outstanding tax or other liabilities and is NOT indebted to any government agencies in Malaysia;
7. 7. The company has NOT made any return of capital to the shareholders;
8. 8. The information of the company with the Registrar as shown in the “print-out” is up to date;
9. 9. The company is NOT involved in any legal proceeding within or outside Malaysia;
10. 10. The company is NOT holding company or a subsidiary of other corporate body;
11. 11. The company is NOT a “Guarantor Corporation

Account closure confirmation from Government Agencies

The company will need to obtain closure confirmation from EPF/Socso/LHDN. Further, if there is tax refund the company should only proceed with bank account closure and strike off application upon receiving the tax refund.

Audited Accounts Requirement

For company which used to be active or with assets and liabilities, SSM will require the company to submit up to date audited accounts prior to accepting the strike off application.

However, SSM may accept un-audited management accounts where company has no assets and liabilities. Nonetheless, SSM has the sole discretion to require audited accounts after the

strike off application.

Processing Time

It usually take between 3 months to 6 months to complete the whole strike-off process.

Strike off initiated by SSM

SSM may strike off a company from the register provided in accordance with Section 549 of Companies Act 2016, if the company fails to submit the company annual return for three years or more.

Costs to strike off a company

It will be in the range of RM1,800 to RM2,500 depending on complexity of the company status.

WINDING UP

The winding up process is more complex as it includes Voluntary Winding Up and/or Compulsory Winding Up and the proceeses are covered in this article: Overview on restructuring and corporate rescue options for businesses in Malaysia

The company must cease to carry on its business except so far as is in the opinion of the Liquidator required for the beneficial disposal or winding up of the business.

Reasons for Liquidation

• • Company has ceased all business activities;
• • Management deadlock;
• • Oppression – shareholders dispute Section 346 of the Companies Act, 2016;
• • Corporate or financial restructuring of the group to which the company belongs;
• • Minimise tax liabilities or maximise tax advantages for the group to which the company belongs;
• • Breach of statutory provisions, including offences committed;

• • Company acting outside its scope of activities.

In short, winding up process of a Sdn Bhd company will involve application to the court and appointment of liquidator to oversee the the entire winding up process. Hence, the cost to wind up a company will usually start from RM5,000.

We also handle payroll administration and services so as to enable you to maintain confidentially of personal matters and timely submission of statutory payments to the authorities.

Our payroll services in this area includes:

•    Computation of net salary, overtime and other deductions on weekly, bi-weekly or monthly basis
•    Providing monthly payroll report and Issuing confidential payslips (hard copy or electronic)
•    Salary payment to employees by cheque issuance or through bank transfer such as GIRO
•    Assist on EPF, SOCSO, EIS, HRDF and MTD payments
•    Registration of EPF, SOCSO, EIS, HRDF and MTD for newly incorporated companies
•    Issuing of EA Form for personal tax including statutory annual filing returns.

Our audit professionals will provide a variety of independent audit services based on a strong knowledge of accounting principles and ethical values.

We consider our audit not only as an expression of opinion but to take into account the holistic measure and accountability to all constituents of the organisation. High quality audit work and value added services is what our professionals strive for without compromising our professional integrity and independence.

Rest assured that all work done is complemented by an appropriate knowledge of business systems, processes and controls.

Our audit services in this area includes:

•    Statutory audit service
•    Non-Statutory Audits

Statutory audit service

Our audit professionals will review the truth and fairness of your company’s financial records. The purpose to perform the statutory audit services is to determine your company’s true and fair representation of financial position. We vouch documents/information such as your bank balances, your bookkeeping records, and your financial transactions. Our quality system is updated with latest auditing standards of audit firms in Malaysia. The audit of your financial statements is completed under rigid professional standards and by applying relevant provisions of Financial Reporting Standards applicable in audit firms Malaysia.

Our assurance approach does not only concentrate on scrutinizing your financial statements but, also focus on your business operations. We thrive to increase efficiency of your business.

Non-Statutory audit service

Our audit professionals practice techniques of audit firm Malaysia that are equally applicable to extensively ranged non-corporate entities, for example auditing services for sole proprietors, small companies, limited liability partnerships, associations, clubs and charitable trusts. We review and verify your business’ financial transactions which are not required either by the law or any other regulatory body. Our non statutory audit services is tailor made to the specific needs of your business. We conduct an unbiased assessment of your business activities and help you to identify the weaknesses that hamper your company’s growth.

Business Reviews
We provide a comprehensive business review which contains the results of the financial position of your business. The feedback assists the management in enhancing profitability and cutting costs.

(a) Personal Income Tax

We can help to plan your personal and/or business taxes, and provide valuable advice on both tax and compliance issues. With our extensive knowledge of Malaysia tax laws, our tax advisory and compliance services include :

Our full range of tax services include:

•    Corporate tax filing and compliance
•    Partnership and personal tax filing
•    Tax Planning for corporate and individual
•    Malaysia tax structuring and Planning
•    Tax efficient structuring of employment packages
•    Optimizing use of tax incentives and exemptions

Please click Income Tax Rates for details about the personal income tax rate for resident.
Kindly take note of the following key dates which related to the filing of personal tax.

•    Delivery of Form EA by the employer to employee no later than last day of February of the following year

•    The deadline for filing of Form BE, BT, M, MT by the a person not carrying business (generally refer to employee) is by 30 April of the following year

•    The deadline for filing of Form B by the a person carrying a business such as sole proprietor is by 30 June of the following year

•    The deadline for filing Form P by a partnership excluding limited liability partnerships, LLPs is by 30 June of the following year

(b) Corporate Tax

All business decisions today have tax implications, and it is important for a company to manage their income tax requirement efficiently. Our tax professionals will keep you abreast of developments that may affect your business. We collaborate closely with you to identify and implement tax strategies that work best within your organization.

Companies, limited liability partnerships, trust bodies and cooperative societies which are dormant and / or have not commenced business are required to furnish the ITRF (including Form E) with effect from Year of Assessment 2014.

Every taxpayer who is liable to tax is required to declare his income to IRBM. The taxpayer is responsible for:

• • Obtaining and forwarding Income Tax Return Form (ITRF)
• • Submitting tax estimation and paying instalment within the stipulated period
• • Computing the company income tax
• • Declaring income and expenses including deductions and rebates
• • Keeping records for audit purposes

(c) Withholding Tax

Withholding tax is an amount withheld by the party making payment (payer) on income earned by a non-resident (payee) and paid to the Inland Revenue Board of Malaysia.

'Payer' refers to an individual/body other than individual carrying on a business in Malaysia. He is required to withhold tax on payments for services rendered/technical advice/rental or other payments made under any agreement for the use of any moveable property and paid to a -resident payee.

'Payee' refers to a non-resident individual/body other than individual in Malaysia who receives the above payments.

The Income Tax Act, 1967 provides that where a person (referred herein as "payer") is liable to make payment as listed below (other than income of non-resident public entertainers) to a non-resident person ( NR payee), he shall deduct withholding tax at the prescribed rate from such payment and (whether such tax has been deducted or not) pay that tax to the Director General of Inland Revenue within one month after such payment has been paid or credited to the NR payee.

Running your own business is extremely exciting and challenging. However, it can easily turn into a nerve-wracking experience. To optimize your profitability potential, strategic business planning is essential to a company.

Our key business consulting and advisory services include:

•    Business start-up consulting
•    Virtual Office
•    Sale & Purchase Agreement, Transfer of Property Ownership, Subsale, Mortgage
•    Company Debt Recovery
•    Trust Arrangement
•    Trade Mark Application
•    Employment Law
•    Applications for various licenses including business license, manufacturing license, Import & Export Approval Permit, LMW license etc
•    Work permits, employment passes, expatriate passes application
•    Information Technology(IT) consultation for business setup
•    Business Domain, Hosting and Website
•    Insurance Advisor
•    Real Estate Consultation
•    Loan Advisor