List of Frequently Asked Question JSC CORPORATE ADVISORY PLT Johor Bahru (JB), KL, Selangor, Malaysia

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

What is the minimum wages in Malaysia?

The minimum wages for:- Daily salary for 6 working days is RM46.15 Daily salary for 5 working days is RM55.38 Daily salary for 4 working days is RM69.23 Hourly salary rate is RM5.77

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

What is the minimum days for public holiday?

Employee is entitled for 11 days of public holiday which include gazetted public holiday and any other day appointed as public holiday.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

How many days need to provide for annual leave?

Employed less than 2 years – at least 8 days per year Employed between 2 to 5 years – at least 12 days per year Employed more than 5 years – at least 16 days per year

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

How many days need to provide for medical leave?

Employed less than 2 years – at least 14 days per year Employed between 2 to 5 years – at least 18 days per year Employed more than 5 years – at least 22 days per year

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

How many days need to provide for maternity leave?

Employee is entitled for at least 60 days of maternity leave. Government servant is entitled for at least 90 days maternity leave.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

What are the payroll statutories payment need to be complied in Malaysia?

The statutory payments need to be complied are:- 1. EPF 2. SOCSO 3. EIS 4. HRDF (if applicable) 5. PCB (if applicable)

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

When is the deadline of Form E submission?

The deadline for Form E is 31 March each year.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

When is the deadline for each statutory payment?

The deadline of the statutory payments mentioned at item 5 is 15th of each subsequent month.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

When is the deadline for Form EA?

Employer need to rendered Form EA to all employees on or before the last day of February.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

What types of companies available in Malaysia

There are three types of companies:- 1. A company limited by shares 2. A company limited by guarantee 3. An unlimited company

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

Who can incorporate Sdn. Bhd. in Malaysia?

Any individual people and companies. At least one (1) director who fulfilled the following conditions need to be appointed as director of the company. He/she shall be: 1. At least eighteen (18) years of age 2. Ordinarily reside in Malaysia by having a principal place of residence in Malaysia 3. Not include an alternate or substitute director He/she cannot be: 1. Undischarged bankrupt 2. Convicted of an offence relating to the promotion, formation or management of a corporation 3. Convicted of an offence involving bribery, fraud or dishonesty 4. Convicted of an offence under section 213, 217, 218, 228 and 539 of the Companies Act 1965 5. Disqualified by the Court

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

What is the minimum share capital for incorporation of Sdn. Bhd.?

The minimum share capital is RM1.00.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

Can Sdn. Bhd. incorporate with one (1) director?

Sdn. Bhd. can be incorporate with single (1) member and director.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

Can foreigner incorporate a Sdn. Bhd. in Malaysia?

Yes. However, the foreign need to appoint at least one director who fulfilled the following criteria. He/she shall be: 1. At least eighteen (18) years of age 2. Ordinarily reside in Malaysia by having a principal place of residence in Malaysia 3. Not include an alternate or substitute director He/she cannot be: 1. Undischarged bankrupt 2. Convicted of an offence relating to the promotion, formation or management of a corporation 3. Convicted of an offence involving bribery, fraud or dishonesty 4. Convicted of an offence under Section 213, 217, 218, 228 and 539 of the Companies Act 2016 5. Disqualified by the Court

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

Can a company incorporate a Sdn. Bhd.?

Yes. However, the company need to appoint a corporate representative to authorize and sign relevant documents.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

How long will it takes to incorporate a Sdn. Bhd.?

Normally the incorporation process will take around two (2) to ten (10) working days.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

What documents need to prepare for the incorporation of Sdn. Bhd.?

The following documents and information need to be prepared for the incorporation. 1. Copy of NRIC / passport of the director(s) and shareholder(s) 2. Residential address of director(s) and shareholder(s) 3. Contact and email address of director(s) and shareholder(s) 4. Proposed company name(s) 5. Nature of business 6. Number and classification of shared allocated to each shareholder

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

When a Sdn. Bhd. need to lodge its annual return to SSM?

The annual return need to be lodged to SSM not later than thirty (30) days from the anniversary of its registration date.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

When a Sdn. Bhd. need to lodge its audited financial statements to SSM?

The audited financial statements need to be lodged to SSM not later than thirty (30) days from the financial statements and reports are circulated to its members. The audited financial statements shall circulated to shareholders within six (6) months of is financial year end.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

How can I shut down a Sdn. Bhd.?

A Sdn. Bhd. can be shut down by the following methods:- 1. Voluntary winding up 2. Strike off under Section 549 of the Companies Act 2016 3. Winding up by court order

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

Is it required for a Sdn. Bhd. to appoint a company secretary?

Yes. Under Section 235 of the Companies Act 2016, a company shall have at least one (1) licensed secretary.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

What accounting software JSC using?

We are using Autocount and Xero accounting software.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

What is advantage to engage an accounting firm?

It is depends on your needs. You can prepare accounts at monthly, quarterly, half-yearly or yearly basis.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

How frequent do we need to prepare for accounting?

It depends on your needs. You can prepare accounts at monthly, quarterly, half-yearly or yearly basis.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

What is different between bookkeeping and accounting?

Bookkeeping services are to furnish and enter data into accounting, while accounting services are to review and finalize the accounts for audit and taxation.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

What is the advantage of preparing monthly management accounts?

The advantages of preparing monthly management accounts as below:- 1. Actively monitor the Company financial performance in order to make a timely decision. 2. To avoid any unfavourable result during year-end which can be prevented if monitor it on a monthly basis. 3. The process of year-end closing will be easier as the accounts are finalised every month and any matters arising are settled on a monthly basis. 4. Estimation of tax instalment (CP204) will be relatively easy as the monthly financial performance trend is available.

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

What is the basis used for preparing and finalising accounts?

The preparation and finalisation accounts are in accordance with Malaysian Private Entity Reporting Standards (MPERS) or Malaysian Financial Reporting Standards (MFRS).

JSC CORPORATE ADVISORY PLT https://www.jsc-corp.com

Is JSC familiar with consolidation financial reporting?

Yes, we are familiar with consolidation financial reporting. Our partner, Ten Jia Sheng, is experienced in multi-currencies consolidation financial reporting which he has built and prepare the monthly consolidation framework for the multinational government-linked company in accordance with MFRS and implemented the framework into a cloud software to automate the process.

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All Category

What is the minimum wages in Malaysia?

What is the minimum days for public holiday?

How many days need to provide for annual leave?

How many days need to provide for medical leave?

How many days need to provide for maternity leave?

What are the payroll statutories payment need to be complied in Malaysia?

When is the deadline of Form E submission?

When is the deadline for each statutory payment?

When is the deadline for Form EA?

What types of companies available in Malaysia

Who can incorporate Sdn. Bhd. in Malaysia?

What is the minimum share capital for incorporation of Sdn. Bhd.?

Can Sdn. Bhd. incorporate with one (1) director?

Can foreigner incorporate a Sdn. Bhd. in Malaysia?

Can a company incorporate a Sdn. Bhd.?

How long will it takes to incorporate a Sdn. Bhd.?

What documents need to prepare for the incorporation of Sdn. Bhd.?

When a Sdn. Bhd. need to lodge its annual return to SSM?

When a Sdn. Bhd. need to lodge its audited financial statements to SSM?

How can I shut down a Sdn. Bhd.?

Is it required for a Sdn. Bhd. to appoint a company secretary?

What accounting software JSC using?

What is advantage to engage an accounting firm?

How frequent do we need to prepare for accounting?

What is different between bookkeeping and accounting?

What is the advantage of preparing monthly management accounts?

What is the basis used for preparing and finalising accounts?

Is JSC familiar with consolidation financial reporting?