COMPANIES ACT 2016: TRANSFORMING MALAYSIA'S CORPORATE LANDSCAPE
The Companies Act 2016 (Act 777) ("CA 2016") came into force on 31 January 2017. This new CA 2016 replaced the 1965 Act which has been in operation for over 50 years. The workings toward CA 2016 took over a decade's worth of review, consultation and discussion with regulatory, professional and industry bodies.
MAXIMIZING SUPPLY CHAIN OPPORTUNITIES
In recent years, companies have been increasingly outsourcing and offshoring production. This has resulted in supply chains stretched across the globe. In Malaysia, more than 5,000 MNCs from all over the world have chosen this country as their preferred investment destination. Among the spill over benefits include the development of human capital and job opportunities as well as growth of the local suppliers due to the skills and technology developed over the years.
MALAYSIAN PRIME MINISTER ENGAGES INDIAN BUSINESS LEADERS Witnesses Signing of 31 Agreements Worth USD35.99 Billion
This year marks the 60th anniversary of Malaysia-India bilateral relations. The relationship has been dynamic, evolving in the rapidly changing international environment. Bilateral trade and investment flows will continue to flourish, particularly with closer engagements through the Malaysia–India Comprehensive Economic Cooperation Agreement (MICECA) and ASEAN-India Free Trade Agreement as well as the eventual implementation of the Regional Comprehensive Economic Partnership (RCEP), which will also include other important trading nations, China, Japan, the Republic of Korea, Australia and New Zealand.
MALAYSIA'S SOUND FUNDAMENTALS UNDERPIN ITS SUSTAINED GROWTH
As an open economy, Malaysia is not immune to external uncertainties but its economic and financial reforms and policies have somewhat buffered the challenging impact. The country has strong fundamentals that can support the momentum of our economic growth. Despite the challenges from global headwinds, Malaysia managed to attract investments worth RM207.9 billion last year. These approved projects are expected to create 153,060 job opportunities for the country.
ENSURING UNITY AND ECONOMIC GROWTH, INCLUSIVE PRUDENT SPENDING, WELLBEING OF THE RAKYAT
Amid the tepid economic landscape, Budget 2017 presented a pragmatic approach towards the nation's aim in achieving a developed nation status by 2020. With the on-going market volatility, dwindling oil prices and headwinds in the global economic facade, the Budget 2017 forecasted the Malaysian economy to be between 4% and 4.5% in 2016 and between 4% and 5% in 2017.