MSC Malaysia Bill of Guarantees
|
|
|
|
|
|
|
|
|
|
Policy Objective
As part of the efforts to promote Malaysia as a major global ICT hub, the Government recognises the need to provide flexibility to MSC Malaysia Status companies to source capital and funds globally. |
|
Interpretation
|
Flexibility to Source Capital and Funds Globally
Under this BoG, MSC Malaysia Status companies are free to source capital globally, unless otherwise stated in the Anti-Money Laundering and Anti-Terrorism Financing Act 2001, or from residents, authorities, agencies or entities of countries specified in the Exchange Control Act 1953 .
Non-residents investing in MSC Malaysia Status companies are free to repatriate any amount of capital, divestment proceeds, profits and dividends arising from their investments.
MSC Malaysia Status companies are free to remit funds abroad, which are made in foreign currency and transacted through licensed onshore banks.
MSC Malaysia Status companies are also free to borrow from resident and non-resident lenders in Ringgit and in any foreign currency to finance their business operations.
MSC Malaysia Status companies can borrow in Ringgit:
|
|
|
|
- any amount from licensed onshore banks and other residents.
- any amount from their non-resident non-bank parent companies for purpose of financing activities in the real sector in Malaysia.
- up to RM1 million in aggregate from other non-resident non-bank companies or non-resident individuals for use in Malaysia.
The Ringgit is currently non-internationalised. All Ringgit funding is therefore only from resident sources onshore.
MSC Malaysia Status companies can borrow in foreign currencies:
- any amount from licensed onshore banks, licensed International Islamic banks and non-residents in or outside Malaysia.
- any amount from resident companies which are within the same corporate group.
There is no restriction for principal repayment and interest payments to lenders on the Ringgit and foreign currency borrowings by MSC Malaysia Status companies.
Responsible Ministries / Agencies
- The Central Bank of Malaysia (Bank Negara Malaysia).
For More Information
The Foreign Exchange Administration Rules of Malaysia have been progressively liberalised to facilitate a conducive and competitive business environment by enhancing the efficiency of the regulatory delivery system.
Further information on Malaysia's Foreign Exchange Administration Rules can be obtained from the following:
Bank Negara Malaysia Foreign Exchange Administration Website
http://www.bnm.gov.my/index.php?ch=22&tpl_id=181
BNMLINK (Walk-In Centre)
Ground Floor, Block D
Bank Negara Malaysia
Jalan Dato' Onn
50480 Kuala Lumpur
Operating Hours are from Monday to Friday, 9.00 a.m. to 5.00 p.m.
BNMTELELINK (Call Centre)
Tel Number: 1-300-88-5465 or 1-300-88-LINK
Fax Number: 03-2174 1515
Email: bnmtelelink@bnm.gov.my
Operating Hours are from Monday to Friday, 9.00 a.m. to 5.00 p.m.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|