Following heavy criticism of the much stricter requirements introduced to the Malaysia My Second Home (“MM2H”) programme in 2021¹, the Ministry of Tourism, Arts and Culture (“MOTAC”) had, in December 2023, unveiled its plans for a further revamped version of the MM2H programme. In a Facebook post on 15 June 2024, MOTAC Minister, Datuk Seri Tiong King Sing, announced the new conditions for participation in the MM2H programme². This further revamped version of the programme introduces a three-tiered system, namely the Silver, Gold and Platinum tiers, where MM2H Programme participants will be classified into different groups based on their eligibility.
Dear Members, We wish to inform you that Myxpats will be revising its fee structure, with the announcement scheduled for tomorrow, 1 August 2024, and the changes taking effect from 1 September 2024. This fee adjustment is a result of TalentCorp’s continuous efforts to enhance their services and provide additional value.
Despite the increase, the revised fees remain competitive and lower than the market rates, ensuring that we continue to benefit from high-quality services at a reasonable cost.
Key updates include:
- Employment Pass (EP): From RM 800.00 to RM 2,000.00
- Dependant Pass (DP): From RM 450.00 to RM 500.00
- Professional Visit Pass (PVP): From RM 800.00 to RM 1,200.00
- Residence Pass-Talent (RP-T): From 2,388.00 to RM 5,000.00
On August 1, AMCHAM’s Human Capital Committee (HCC) launched its inaugural webinar series, “The Evolving Workplace Part 1: Legal Framework, Flexible Working, and Employee Well-Being.” This session featured a distinguished lineup of speakers who explored how flexible workplace environments are influenced by governmental, human rights, and legal standards of 2024.
Mr. Ahmad Kamal Bin Mohd Nor, Director of Enforcement Division at the Ministry of Human Resources (MOHR), provided a comprehensive overview of Flexible Working Arrangements (FWA) in Malaysia, discussing various working arrangements, benefits, and challenges. YBhg. Datuk Hj Shamsuddin Bardan, Executive Director of the Malaysian Employers Federation, offered insights from the employers’ perspective while emphasizing employee well-being. Mr. Kelvin Kho, Employment Practitioner at Christopher & Lee Ong, discussed the legal framework and considerations for FWA, highlighting issues and best practices for work-from-home policies. The session was expertly moderated by Dr. Tooba M., Chief Human Resources Officer (CHRO) at Citibank Malaysia.
We extend our gratitude to all the guest speakers for their insightful presentations and for engaging with our attendees’ questions. We could not have asked for a better start to our webinar series!
On Wednesday, July 31, AMCHAM held an insightful dialogue session with Datuk Abdul Rasheed Abdul Ghaffour, Governor of Bank Negara Malaysia. This event provided our members with a rare opportunity to engage directly with the Governor in a candid and informative session.
The Governor offered an overview of Malaysia’s financial landscape, discussing the current economic climate, future projections, the rising cost of living, investment inflows, and the geopolitical factors influencing the economy.
He was joined by Assistant Governors Fraziali Ismail and Mohamad Ali Iqbal in a fireside chat moderated by Steve Clayton, Vice Chair of AMCHAM & J.P. Morgan. The dialogue explored recent economic developments, regulatory compliance frameworks, and ways to foster greater foreign and domestic investment in Malaysia.
We are grateful to the Governor and his team for their participation and insights. Special thanks to Prudential for their support.
PENANG, MALAYSIA – July 26, 2024 – Plexus Corp. (NASDAQ: PLXS), a global leader that partners with companies to create the products that build a better world, celebrates a significant milestone with the groundbreaking ceremony of its sixth facility in Penang, Malaysia, located in the Bandar Cassia Technology Park. The state-of-the-art facility, known as “Plexus Bridgeview”, located on a sprawling 20-acre plot, will encompass an impressive 560,000 sq ft cutting-edge infrastructure, estimates investing of RM1bil over the next three years, signals its commitment to growth in Malaysia and within the Asia-Pacific region.
With a footprint established in Malaysia over 20 years ago, Plexus employs more than 10,000 team members across five manufacturing sites and one design center within Penang, Malaysia. This new upscale facility will enable the expansion of their business in Semiconductor Capital Equipment and the ongoing growth of their business supporting leading Healthcare and Life Sciences companies, which supports the Malaysia New Industrial Master Plan 2030. This expansion will also create an estimated 1,800 new employment opportunities of high-skilled jobs in the region.
Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of the MIDA, commented, “MIDA is thrilled to see Plexus’ trust and commitment to expanding its operations in Malaysia with the establishment of its sixth manufacturing plant. Our country’s robust electrical and electronics (E&E) ecosystem, the exceptional capabilities of our local talent, and our well-developed semiconductor supply chain provide the perfect foundation for investors like Plexus. We are buoyed by the opportunities this investment will bring for Plexus, the local community, and the industry, and we look forward to Plexus’ continued advancement in Malaysia.”
Dato’ Loo Lee Lian, Chief Executive Officer of InvestPenang (representing Chief Minister of Penang, Right Honorable Mr. Chow Kon Yeow), stated, “Today marks a significant milestone for Plexus to ground break its sixth manufacturing site. I am grateful to Plexus for continuing to select Penang as your choice of location to expand your operations, which highlights the confidence Plexus places in Penang’s existing robust industrial ecosystem, which enables the company to thrive and grow.”
Mr. Victor Tan, Plexus’ Regional President – APAC, stated “The establishment of the new Plexus Bridgeview facility demonstrates our commitment to growth within the region, Page 1 of 3 and provides a strong opportunity to meet the growing needs of our valued customers. We are grateful for the facilitation and continued support of MITI, MIDA, InvestPenang, and our key suppliers to help enable these important milestones on Plexus’ growth journey.”
Plexus is committed to sustainability throughout their global business operations. The company continues to elevate the standards of business conduct and integrate sustainable and responsible business practices into its enduring strategy. Through focused efforts around product impact, environmental impact, social impact and sound corporate governance, the company is able to deliver differentiated value to various stakeholders.
In support of being a sustainable and responsible business partner, Plexus contributes to non-profit causes within Malaysia communities and encourages employee volunteerism through charitable giving initiatives, STEM education sponsorships and collaborations. In addition, as one effort to highlight how they are reducing the carbon footprint, the company has installed solar panels at the Plexus Islandview and Seaside facilities, and will continue to do so for all remaining facilities by end of 2024.
Plexus is excited to embark on this ambitious endeavor of a new facility, and is looking forward to realizing the vision of Malaysia’s New Industrial Master Plan 2030 in service of fulfilling the company’s vision of helping create the products that build a better world.
The Inland Revenue Board of Malaysia (IRBM) acknowledges the commitment of taxpayers in complying with e-Invoicing legal requirements, which necessitates adequate time, especially for industries with challenging and complex business environments. To ensure the smooth implementation of e-Invoicing, the government has agreed to provide flexibility to taxpayers for six (6) months from the mandatory e-Invoicing implementation date to issue consolidated e-Invoices for all transactions as follows:
a) Allowing all activities/industries to issue consolidated e-Invoices, including self-billed e-Invoices;
b) Permitting any transaction description to be included in the “Product or Service Description” field; and
c) If there is a request for an e-Invoice from the buyer, the seller is also allowed to issue only consolidated e-Invoices without issuing individual e-Invoices for each transaction.
