MSC Malaysia Bill of Guarantees
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Policy Objective
To realise the vision for Malaysia to be a major global ICT hub, the Government recognises the importance of attracting world-leading companies and multinational corporations to set up their global / regional hubs and/or to conduct their business operations, undertake research and develop new technologies, applications and products in MSC Malaysia. |
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Interpretation
Generally, no restrictions are imposed by the Government on equity conditions for companies incorporated in Malaysia. However, for companies involved in various sectors, equity conditions imposed by the respective sector regulators will apply.
For acquisition of properties (except residential units), approval of the Economic Planning Unit of the Prime Minister's Department is required in respect of the following :
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- Direct acquisition of property valued at RM20 million and above, resulting in the dilution in the ownership of property held by Bumiputera interest and/or Government agency; and
- Indirect acquisition of property by other than Bumiputera interest, through acquisition of shares, resulting in a change of control of the company owned by Bumiputera interest and/or Government agency, having property more than 50% of its total assets and the said property is valued at more than RM20 million.
Companies undertaking the above transactions are required to comply with equity conditions, and paid-up capital conditions. However, MSC Malaysia Status companies are exempted from the above, provided that the property is used for their operational activities, including as residence for their employees.
Responsible Ministries / Agencies
- The Economic Planning Unit of the Prime Minister's Department.
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