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FAQ: RM3,000 Special Grant for Micro Enterprises

1. What is the Special Grant (Geran Khas PRIHATIN “GKP”)
The grant is an one-off financial aid worth RM3,000 given to micro enterprises who are affected by Covid-19 outbreak.

2. Who is eligible to apply for the Special Grant (Geran Khas PRIHATIN “GKP”)
i) Applicant must be Malaysian; and
ii) Applicant must be running a micro business fulfilling the following conditions:

• Annual turnover of less than RM300,000; and
• Less than 5 employees (excluding employer)

iii) Registered with either LHDN or Local Authority or SSM before 31 December 2019
iv). Still running an active business
v) Business information are consistent between different government agencies

3. What is the value of the Special Grant (Geran Khas PRIHATIN “GKP”)
One-off payment of RM3,000

4. How to apply for the Special Grant (Geran Khas PRIHATIN “GKP”)
You can apply through https://gkp.hasil.gov.my 

5. When is the application period
From 1 May 2020 to 15 May 2020

6. When will the applicant be notified on the result?
First week of June 2020

7. I have registered with SSM and Local authority but not LHDN. Am I still eligible?
Yes, you will need to fill in the business details while applying the special grant online

8. When will the payment be made?
First week of June 2020

9. How will the payment be made?
It will be credited to the bank account provided during the application process

If you require further assistance, simply contact us here.

Latest Update: Companies winding up protection in relation to Covid-19 situation

On 23 April 2020, the Minister of Domestic Trade and Consumer Affairs has exercised his powers under Section 615 of the Companies Act 2016 and gazetted the Companies (Exemption) (No. 2) Order 2020 (“Exemption Order No. 2”). This provides the debtor six-month period to respond to a statutory demand (instead of the original 21 days).

Second, the Minister has also issued a direction under Section 466(1)(a) of the Companies Act 2016 to prescribe the threshold amount to above RM50,000 (instead of the original RM10,000).

The above mentioned changes have great implications on the winding up process as the usual process to commence a winding up procedure by creditors is the issuance of a statutory demand under Section 466(1)(a) of the Companies Act 2016 based on the prescribed amount by the Minister. In the original arrangement, the debtor then has 21 days to respond to the statutory demand. After the expiry of this period, the debtor is deems not able to repay the debt and the creditor can file a winding up petition.

With Exemption Order No. 2, instead of 21 days, a debtor company now has six (6) months to respond to a statutory demand. Therefore, any filing of a winding up petition based on the statutory demand will be served at the expiry of the 6-month period after the issuance of the statutory demand. This amendment is crucial as it helps many companies stay focus on its operations and survival during this critical period instead of getting distracted by legal actions initiated by creditors. 

To assist business owners to have an understanding on the legal protection given to them by the laws against their creditors, WeCorporate have outlined a summary on the restructuring and corporate rescue options for businesses in Malaysia in this link.

If you require further assistance, simply contact us here.

Overview on restructuring and corporate rescue options for businesses in Malaysia

With the current economic climate in Malaysia, many Small Medium Enterprises (SMEs) have experienced a significant drop in income and many business owners are considering to wind up or close down the business entirely due to increasing pressure from creditors on outstanding payments and staff payroll commitments.

WeCorporate have outlined several methods to rescue a business (other than winding up) through our high level summary on the restructuring and corporate rescue options below.

In Malaysia, there are 6 key restructuring and corporate rescue options  contained in the Companies Act 2016 (CA 2016). We have outlined the 6 key options below in this article:
1. Corporate voluntary arrangement
2. Judicial Management
3. Scheme of Arrangement
4. Members voluntary winding up
5. Creditors voluntary winding up
6. Compulsory winding up

1. Corporate voluntary arrangement (“CVA”) (only For Private Companies with no Secured Debt)

CVA is a new corporate rescue mechanism made available under CA2016 and it is a quick out of court process. The process is as such:

• Initiated by the directors of the company who will make a proposal for CVA to the creditors, and to appoint a nominee to act as trustee/supervisor for the implementation of the CVA.
• Once the CVA is approved by the creditors, the nominee shall notify the Court and the company shall be able to implement the CVA.
• Upon filing of the application to the Court, the company is entitled to delay performing certain legal obligations or to delay payment for 28 days to 60 days (Moratorium period) subject to the consent of the nominee, shareholders of the company and 75% in value of the creditors.
• During the moratorium period, creditors do not have power to act against a company.

However, CVA only applies to private companies and does not extend to companies regulated under the purview of the Central Bank of Malaysia or the Capital Markets and Services Act 2007. Further, it is also not available to companies with secured debt (e.g. property or undertaking charged to creditors). As such, this limits the use of CVA amongst businesses in Malaysia.

2. Judicial Management (“JM”)

It is another method of corporate rescue mechanism provided under Section 392, CA2016. Unlike CVA, under JM the management of the company will be hand over to an insolvency practitioner.

The key features of JM are as follow:
a) the filing of the court application for JM triggers an automatic moratorium which prevents the company from being wound up and also prevent any legal proceedings to initiate against the company. This will much needed breathing space to the distressed company.

b) Second, the application must demonstrate to the Court

• the company is or will be unable to pay its debts;
• the survival of the company as a going concern;
• the approval of a compromise between the company and the creditor; and
• a more advantageous realisation of the company’s assets would be effected than on a winding up.

c) Any secured creditor can veto the JM application

Once the JM order is granted, the judicial manager has an initial term of 6 months to try to put forward a restructuring proposal to the company’s creditors. The moratorium continues on during the judicial management order.

The judicial manager’s proposal aims to achieve 75% in value of the creditors’ approval. The judicial manager takes over all management powers of the directors. The initial 6 months term may only be extended for a further 6 months.

3. Scheme of Arrangement (“SOA”)

This arrangement will require the company gets 75% approval by classes of creditors and the management power will remain with the existing board of directors.

Below are the stages of the SOA:

• I. Apply to the Court to hold a Creditors’ Meeting where the creditors must be classified into different class based on their legal rights. The company may also apply for a Court Order for a restraining order as it is not automatically granted like CVA or JM. The initial restraining order will last for not more than 90 days, and can be extended.
• II. Once the court order is granted, the company will hold the different meetings based on the creditor classes and the aim is to achieve 75% in value of creditors’ approval for each class.
• III. The company will need to apply for sanction from the Court. The Court will approve the scheme once it is satisfied that all the statutory requirements have been met. The scheme will then become binding on all the creditors listed in the scheme.

For SOA, it is not mandatory for a company to engage an insolvency practitioner but it is common to have one to assist on the process.

4. Members voluntary winding up

This can by initiated by a solvent company, through its directors and shareholder. It happens when the shareholders no longer want to continue with the business and for all of the assets to be sold, and for the proceeds to then be distributed back to the shareholders. For this, a liquidator will be appointed to manage the entire winding up process.

5. Creditors voluntary winding up

This happened when the company is insolvent. It can be initiated by the company through its directors and shareholder but the creditors will have the final say on the person to be appointed as the liquidator of the company.

6. Compulsory winding up

This happened when a company fails to pay an amount (minimum RM10,000) as stated in the statutory demand issued by creditors within 21 days. (Note: an exemption been made for the time being due to Covid-19 situation where the period been increase to 6 months and the threshold been increased to RM50,000). The creditor can file winding up petition to the Court to seek the Court Order for the winding up of the company.

We understand that many businesses are facing mounting issues on collections and payments and WeCorporate is always ready to assist on providing financial advisory services. Contact us here 

If you require further assistance, simply contact us here.

What is an Outsourced CFO?

A Chief Financial Officer (CFO) heads the finance function of a company and their responsibilities are more than accounting/bookkeeping and includes focusing on strategic areas of the company, such as:

1. Budgeting and forecasting the company’s financials
2. Involve in formulating the company strategy with the Management team
3. Financial performance review (against budget, competitors and overall market)
4. Design the financial processes and management system
5. Design and monitor the corporate governance system
6. Keep up with the latest regulatory and tax updates
7. Seek funding for the company’s expansion either through debt or equity

Why you should hire an Outsourced CFO?

The difference between making profits and losses lies in the qualifications of the CFO. WeCorporate’s Outsourced CFO service gives you, the business owner, access to high quality, all-in-one professional team without the huge overhead costs of employing a permanent CFO.

Here are 10 REASONS why you should engage WeCorporate as your Outsourced CFO:

1)  Expert advice at a fraction of the price: WeCorporate’s Outsourced CFO service can provide small to medium businesses (SME) with expert financial advice, beyond what your accountants and bookkeepers are able to offer. This expertise is provided at a fraction of the cost of a full time CFO employee. 

2)  All-in-One service provider: WeCorporate’s Outsourced CFO service is not performed by 1 individual but rather an experienced team from a variety of background (accounting, tax, legal) hence all your financial requirements are well taken care of by only having to deal with one professional team. No more worrying about whether your books are up-to-date and accurate.

3)  CashFlow Projection: WeCorporate’s Outsourced CFO service can conduct an analysis of your company’s expenses & profits and plan strategies to deal with any financial challenges and improve the businesses performance. As a business owner, you have to be confident in the decisions you make for the company. The accuracy of your reports and total visibility allows you to make tough calls.

4)  Scale Your Business through Strategy & Planning: WeCorporate’s Outsourced CFO service is able to help you create a company strategy and business plan/forecast. Our Outsourced CFO will focus on current performance needs, long-term strategic planning and guidance with tailored solutions specifically designed to take your business to the next level.

5)  Proactive in Growth/Exit Strategies: WeCorporate’s Outsourced CFO service can help you prepare all the necessary documents, business plans, forecast etc to raise funding for growth, or prepare the business for sale/IPO. This valuable experience and expertise can help you achieve a significant premium from a sale and more favourable lending/investment terms.

6)  Accurate & Timely Financial Information: WeCorporate’s Outsourced CFO service will ensure that you are receiving accurate and timely reporting/financial information. Your financial statements and other critical financial documents are reviewed by an expert, so you can be sure that information is correct.

7)  Independent and Objective View: WeCorporate’s Outsourced CFO service will play a critical role in shaping the direction of your business, question conventional thinking and challenge your business to continuously improve. They offer a fresh, objective view of your company’s financial situation. 

8)  Process Improvement: WeCorporate’s Outsourced CFO service can assist on modernizing and streamlining accounting systems and processes to save both time and money. Freeing up time for both you and your employees, to enable you to focus on your strengths and passions to more effectively drive business performance.

9)  Specialized Restructuring Advice: If a company is going through major change, whether restructuring for growth, or redirecting the company’s trajectory, the CFO functions required may be highly specialized and temporary, rather than general and long-term. In those situations, businesses do well by bringing in an Outsourced interim CFO who can focus on these specialised tasks.

10)  Emergency Engagement for Stability: On emergency occasions where a company has its own CFO, but they are dismissed or have resigned. If this happens suddenly, the company can find it hard to immediately find a suitable long-term replacement. At such times, WeCorporate’s Outsourced CFO service can be an effective and temporary way to retain consistency and ensure business continuity.

Who should use our Outsourced CFO service?

1)  Unreliable in-house finance department: Very often our clients engage WeCoporate’s Outsourced CFO service when either their finance department is unable to keep up to date with the latest accounting and tax regulations, latest accounting software or they are a one-person finance team and there is high flight risk which would affect the business continuity. Your data is always kept confidential at WeCorporate.

2)  Aspiring successful entrepreneur: Your business is taking off and you have a lot of balls in the air – you simply don’t have enough time to handle budgeting, forecasting and analyzing financial results simultaneously. Our Outsourced CFO services can help free your mind from the worry of your business finances while you grow your business.

3)  Small and Medium sized (SME) business owners: You know your customers and your services and/or products inside and out, but you’re less focused on dissecting the financial side of the business. As a result, you sometimes make decisions based on instinct, instead of financial data and other objective inputs that is important. With total visibility of your finances, you can feel confident and make more informed business decisions.

4)  Start-ups funded by Venture Capital/Private Equity: You’ve fund raised to expand your business and you need to update your investors about financial performance regularly (i.e. profit margins, customer acquisition costs and other key performance indicators), but you are not sure how to put that together and are too busy on the sales and operations.

5)  Business in crisis: Your business is not doing well and need financial experts to advise on all range of issues such as bank financing, negotiation with suppliers, discussion with employees on change to remunerations, fund raising etc. 

How can WeCorporate Outsourced CFO services help your company?

The role of a Chief Financial Officer (CFO) is essential for a company who wants to grow to the next level or are currently facing critical issues with strategy and financial management.

Usually, only companies above a certain size can afford a qualified CFO, given that it is not easy to recruit an experienced CFO and it costs too much for a growing company (as a CFO usually costs above 5 figures monthly salary). With WeCorporate’s Outsourced CFO service, now there is a way to get access to talents with similar CFO capabilities.

WeCorporate have a team of experienced professionals with a variety of backgrounds (accounting, audit, legal, tax, financing) who have all worked in Big-4 Accountancy firms, Multinational companies and Financial institutions who can advise you on strategic and financial management issues. In addition, we have a highly competent and efficient in-house accounting and tax team who can assist you on day-to-day finance functions.

With WeCorporate team of professionals, we can confidently say that WeCorporate’s Outsourced CFO service can help you to achieve the financial transformation/objective you are pursuing at a much lower budget.

If you require further assistance, simply contact us here.

FAQ: Employment Retention Programme (ERP) / Program Pengekalan Pekerjaan

The Human Resources Ministry of Malaysia, through the Social Security Organisation (SOSCO), have introduced the Employment Retention Programme (ERP) as part of the Economic Stimulus Package for workers in the private sector whose employers have been affected by the Covid-19 outbreak. We have summarised the key highlights of the ERP Programme in the FAQ below:

1. What is Employment Retention Programme (ERP)?
The ERP is a financial assistance given by the Government to employees who have been asked to take No-Pay leave by their employers who are affected by the Covid-19 outbreak.

2. What is the financial assistance given?
Each applicant can receive RM600 a month (up to maximum of 6 months) depending on the notice of No-Pay leave.

3. Who are entitled to ERP?
• Malaysian citizen only
• All private sector employees including temporary employees who have registered and are contributing to Employment Insurance System (EIS)
• Only for employees with salary below RM4,000/month
• Employers who have implemented No-Pay leave (minimum 30 days) for a  period 1 month to 6 months with the No-Pay leave notice issued beginning 1st March 2020.

4. Who are not eligible for ERP?
• Employees who did not contribute EIS
• Employees whose salaries are above RM4,000
• Employees who have stopped working
• Self employed
• Public government servants
• Foreign workers and expatriate

5. Who can submit the ERP application?
The employer will apply on behalf of the employees. Application can be made online at https://prihatin.perkeso.gov.my/home.html

6. What is the payment method?
The payment will be transferred to the employers’ bank account. Employers are required to transfer the payment to the employees within 7 days upon receiving the payments from SOCSO.

If you require further assistance, simply contact us here.

More sectors allowed to operate as Movement Control Order (MCO) is extended

As announced by Ministry of Trade and Industry Malaysia (“MITI”), more sectors can operate during the MCO period. Businesses from these sectors who want to operate can apply from MITI from 9am, 13 April 2020 onwards at www.miti.gov.my and only completed application fulfilling the conditions will be considered. (Reference: MITI FAQ dated 13 April 2020)

The industry sectors are:

1. Automotive industry (limited to complete-build up (CBU) export units, equipment and components, and after-sales service (maintenance)

2. Machinery and equipment industry

3. Aerospace industry

4. Construction and construction-related services, including:

• projects with G1-G2 contractors as main contractors
• projects that have achieved physical progress of 90% and above
• tunnelling works
• maintenance works
• sloping works
• emergency works that are consequent to contractual obligations
• maintenance, cleaning and drying of stagnant waters, spraying of insecticides in construction sites
• other works that could be dangerous if not completed
• building projects with IBS score of 70 and above
• construction of accommodation facilities for workers, such as centralised employee quarters or employee camps
• professional services involved with construction industry including architects, town planning, surveyor, material surveyor, project manager, facility manager and others

5.  Science, professional and technical services, including R&D (limited to legal services, services incidental to oil and gas, R&D activities related to COVID19, and testing labs for the sectors allowed to operate)

6. Social health services including registered traditional healthcare services (limited to only registered Traditional and Complementary Medicine or TCM practitioners)

7. Hardware stores and stores selling electrical and electronic appliances

8. Full laundry services (self-service not allowed)

If you require further assistance, simply contact us here.

What is the definition of SME in Malaysia?

Small and medium-sized enterprises (SMEs) represent 98.5% of all registered businesses in the Malaysia and SME businesses contributes approximately RM521.7 billion to Malaysia GDP or 38.3% of national GDP (in 2018). SME businesses provides 66.2% of total employment in Malaysia.

The definition of an SME (as defined below) is important for access to finance and government support programmes targeted specifically at SME businesses. The composition of SME activities in Malaysia are as follows:

.

2) Definition by LHDN (Lembaga Hasil Dalam Negeri Malaysia) – Tax Authority

•  SME is defined as a company resident in Malaysia which has a paid-up capital of RM2.5 million or less and is not related to any company with paid up capital of more than RM2.5 million

•  Annual sales turnover not more than RM5 million

.

3) Definition by Ministry of Human Resources

The Ministry of Human Resources defines SME categories according to the number of employees they hire. The categories are summarised below:

If you require further assistance, simply contact us here.

Special Tax Deduction on rental reduction given to SME tenants

As part of the Prihatin Stimulus Package announced by the Malaysian Government on 6 April 2020, private landlords are encouraged to offer at least 30% rent reduction between April 2020 to June 2020 to their SME tenants. In return, the Government will offer tax deduction for the rental deduction offered.

Here is a summary of the Special Tax Deduction given to Landlords on the rental deduction given to their SME tenants:

.

Total tax savings*: RM12,600 – RM10,800 = RM1,800

*Please note that the tax saving will differ between corporate and individual due to different tax % rate.

What are the supporting documents required?
1. Valid Tenancy agreement
2. Rental income statement
3. Certification of the tenant’s status as a SME company
4. Supporting documents to prove rental reduction (to be announced by LHDN at a later date)

With this Special Tax Deduction, now you have more reasons to persuade your landlord to reduce rental rates!

IMPORTANT NOTICE: This is a summarized version and for final reference, please refer to the statement issued by the Government (source: Cadangan Langkah Cukai Pre 3.0 (SME))

If you require further assistance, simply leave us a message here.

What is a Wage Subsidy Programme and how to apply?

Based on the latest announcement by the Malaysian Government on 6 April 2020, there is a revision on the Wage Subsidy Programme (Program Subsidy Upah) give to Malaysian Companies.

Here is a summary of the Wage Subsidy Programme:

.

FAQ in relation to Wage Subsidy Programme

1. What is Wage Subsidy Programme (“WSP”) or Program Subsidi Upah?

It is 3-month financial aid given to Employers for every Malaysian employees they employ with salary under RM4,000. The purpose is to assist the employers who are impacted by the COVID-19 outbreak to operate as usual and to retain their workforce.

2. When will Wage Subsidy Programme (“WSP”) or Program Subsidi Upah be effective and end?

The programme will be effective from 1 April 2020 and the last day for application will be on 15 September 2020. The programme will last for 3 months from approval date.

3. Who are not eligible for Wage Subsidy Programme (“WSP”) or Program Subsidi Upah?

• Employers or businesses register and operate after 1 January 2020
• Employers and employees have yet to register with or contribute to PERKESO
• Employees who are entitled to financial aid from Employment Retention Programme/ Program Pengekalan Pekerjaan in the same month
• Employees with salary more than RM4,000
• Employees who are no longer in employment
• Public servants, employees with federal and state statutory bodies, local authorities and self employed
• Foreign workers and expatriate

4. What documents are required to apply for Wage Subsidy Programme (“WSP”) or Program Subsidi Upah?

• Employer Bank Account Details (Extract of Bank Statement with Company Name, Bank and Bank Account number)
• Business Registration Number (the registered with bank when open the bank account)
• A copy of certificate of registration with SSM/Local Authority/Professional Body/Trade License
• Declaration Form PSU50 / Akuan Pengisytiharan PSU50
• List of employees (attached)
• Supporting documents to prove reduction in sales such as management accounts or sales report certified by management*

*For Medium and Large size companies only

5. What is Business Regsitration Number (BRN)?

• Business Regsitration Number (BRN) is the business registration number register with the bank when opening bank account.
• Employer need to provide the BRN for the purpose of Electronic Fund Transfer (EFT).

6. What is PSU50 Declaration Form/Akuan Pengisytiharan PSU50?

PSU50 Declaration Form/Akuan Pengisytiharan PSU50 is a declaration made by the employers that they agree to the terms and conditions set up in the form for the purpose of applying to Wage Subsidy Programme (“WSP”) or Program Subsidi Upah.

7. Why employees with salary more than RM4,000 are not covered under Wage Subsidy Programme (“WSP”) or Program Subsidi Upah even though they made monthly contribution to PERKESO?

Wage Subsidy Programme (“WSP”) or Program Subsidi Upah is a financial aid given by Government through Economic Stimulus Packages/Pakej Rangsangan Ekonomi (PRIHATIN) to assist employers affected by COVID-19 outbreak to continue operation and retain their workforce. This programme is also to assist employees under the B40 group who usually have income less than RM4,000 a month.

8. Do employers need to make new application for the second and third month for WSP?

Employers do not have to submit new application for second and third month. However, employers are required to update any changes in second or third month if there is any changes to the business or number of qualified employees through the system. Failure to do sure will have legal consequences.

9. Can employers who have started operation before 1 January 2020 but yet to register with PERKESO to apply for Wage Subsidy Programme (“WSP”) or Program Subsidi Upah?

Yes. All employer have yet to register with PERKESO can apply for Wage Subsidy Programme (“WSP”) or Program Subsidi Upah so long they fulfil the following criteria:
a) Already registered with SSM, Local Authorities, Professional Bodies before 1 January 2020
b) Have at least one employee
c) Registered with PERKESO

10. Can employers who have applied for Employment Retention Programme (ERP)/ Program Pengekalan Pekerjaan still apply for Wage Subsidy Programme (“WSP”) or Program Subsidi Upah?

Yes, employers who have fulfilled the conditions to apply for Wage Subsidy Programme (“WSP”) or Program Subsidi Upah can apply for WSP even if they have received ERP before. However, companies are not allowed to claim WSP for employees who have already received ERP for the same month.

11. Can the employer resubmit the application for Wage Subsidy Programme (“WSP”) or Program Subsidi Upah (announced on 6 April 2020) if they have applied for the WSP announced on 27 March 2020?

Yes. For employers who have submitted application to the WSP announced on 27 March 2020 and have more than 100 employees, they are allowed to submit new application to account for the remaining employees so long as the total employees not exceeding 200.

12. For company with more than 76 employees, how to prove reduction of sales of more than 50%?

The employers can provider supporting documents such as management accounts/sales report that the sales had dropped by more than 50% from January 2020 as compared to the following months.

13. My company have multiple departments/division/branches/units. Can I select a portion of my employee from specific departments/division/branches/units to apply for the Wage Subsidy Programme (“WSP”) or Program Subsidi Upah?

Yes. Employers can select any local employees whose salary are below RM4,000.

14. If the employer apply for the Wage Subsidy Programme (“WSP”) or Program Subsidi Upah in June 2020, can the subsidy be backdated to April 2020?

The subsidy will only be provided from the month of application and no backdated payment allowed.

15. If I do not apply to Wage Subsidy Programme (“WSP”) or Program Subsidi Upah am I allowed to terminate my employees anytime?

Yes. However, all employer should take note that any termination should be done in accordance to Employment Act 1955 and Industrial Relations Act 1967.

16. One of the conditions for Wage Subsidy Programme (“WSP”) or Program Subsidi Upah is to retain the employees for 6 months. If the employee decide to leave the company voluntarily and the employer has been receiving the subsidy before this, does the employer need to make new application?

No. If the employee leaves the company voluntarily within the first 3 months of the WSP, employer only have to update the information in the system. Failure to do so may lead to legal consequences.

17. Can the employee apply for WSP on their own.
No. All applications must be submitted by the employers

18. How will employers be notified that the application been approved or rejected?

The employers will be informed on the application status through email. List of approved employers will be published at PERKESO website; eiscentre.perkeso.gov.my together with the number of approved employees.

19. What is the definition of wage or income of RM4,000 and below under WSP

Wage or income will be defined in accordance to Employees’ Social Security Act 1969. All monetary payments given to employees such as gross salary / overtime/ commission /payment in respect of leave / service charges.

20. How should I pay the employees’ salaries if I participate in the WSP?

The employers should pay their employees the salary as usual and at the same rate and submit their application for WSP. The financial aid from WSP is for the employers. Monthly PERKESO and EIS contribution are still mandatory based on the salary given to employees.

21. If one employee working for Company A and Company B and both contribute to PERKESO, can both companies apply for WSP?

Yes. Both companies can apply for WSP so long they meet the conditions.

22. My company have both Malaysian employees and foreign employees but have not register with PERKESO. Can I register with PERKESO and apply WSP for my Malaysian employees only?

Yes. Employers need to register or contribute with PERKESO first before applying for WSP. This application is only eligible for Malaysian employees. Employers are required to submit a declaration on the total number of employees (both Malaysian and foreign employees). Note: the size of the company is defined based on number of employees (both Malaysian and foreign employees)

IMPORTANT NOTICE: This is a summarized version and for final reference, please refer to the statement issued by PERKESO.

If you require further assistance to apply for this subsidy, simple leave a message at here.

This article discusses all aspects of Sendirian Berhad (“Sdn. Bhd.”) 

• Key characteristics
• People involved in Sdn. Bhd. and their responsibility
• Advantages of Sdn Bhd
• Disadvantages of Sdn Bhd

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