MSC Malaysia Status Revocation

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MSC Malaysia Status Revocation
 
Q.
Under what circumstances will MSC Malaysia status be withdrawn from a company?

If the company is unable to relocate to an MSC Malaysia location within the given time frame.
If the company is found to be in serious breach of the MSC Condition of Grant.
If the company wishes to surrender the status due to inability to proceed with MSC Malaysia activities. 
If the company is bought over / merges with another company and MSC Malaysia activities defer from that stated in the business plan.

 
Q.
What are the rights or remedies of a company if MSC Malaysia status is revoked?
The revocation of MSC Status takes effect from the date of the endorsement by the Minister of International trade and Industry (MITI). The revocation is then deemed final and cannot be rescinded.
 
Q.
What are the conditions / procedures to be followed before MSC Malaysia status can be withdrawn?

Issuance of Notice of Breach (NoB) by MDEC for failing to comply with any of the stipulated requirements under the MSC Condition of Grant (CoG).
Decision to revoke by the MSC Approval Committee (AC).
Issuance of “show cause” by MIDA for the withdrawal of Pioneer Status.
Confirmation by MSC Approval Committee (AC) of revocation.
Endorsement of revocation by Minister of International trade and Industry (MITI).
Final notification of revocation by MDEC to company.

 
Q.
What are the effects / consequences if MSC Malaysia status is revoked from a company?

Upon revocation all MSC Bill of Guarantee (BoG) benefits and all or any related MSC benefits would be withdrawn.

 
 
   
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Malaysia Digital Economy Corporation

The Malaysia Digital Economy Corporation (formerly known as Multimedia Development Corporation) a unique organization established to direct and oversee MSC Malaysia, the national ICT development initiative, by advising the Malaysian Government on legislation and policies, developing industry-specific practices and setting the standards for multimedia and digital operations. MDEC is also responsible for promoting MSC Malaysia locally and globally, whilst providing strategic support to MSC Malaysia Status Companies.

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