Insight

Impact of Covid-19
Reshaping the Landscape of Business World

Outsource Program

INSIGHT

Challenging time for businesses today, stagnant revenue and ever increasing operating cost. Many entrepreneur faces difficulties adapting to the rapid changes in the business world today. Learn more about our Outsourcing Program, knowing how we can reduce 50% of your cost.

Top 5 Reasons Why Your Company should Outsource Your Accounting or Bookkeeping to KBM

  1. Save money
  2. Expertise on your side
  3. Timely and accurate financial data
  4. Allows you to focus on your core business
  5. Avoid penalties caused by GST Errors
Notice:
You no longer need to rush for deadlines to avoid penalties as your accounting reports are prepared timely in our good hands. KBM provides outsourced accounting, bookkeeping and financial controller (CFO) services Puchong, Selangor, and Kuala Lumpur (KL), Malaysia for your business

Here is what we can do for you:

Option 1: Full Service

  • Accounting & Bookkeeping performed by accountants on a weekly or monthly basis
  • We can become your complete bookkeeping and finance department

Option 2: Outsourced Financial Controller

  • You handle the bookkeeping in-house
  • We oversee your accounts staff
  • Analyse and advice on your accounts so that you can make better business decisions

Looking for way to grow your business?

Let’s look at the differences between Sendirian Berhad and Berhad.
A Sendirian Berhad (Sdn. Bhd.) is a private limited company (Pte. Ltd.) while a Berhad company is a public company (Bhd.) which usually ends with Ltd.

Main Differences

 
Differences Sdn. Bhd. Bhd.
Number of Shareholders Maximum 50 Shareholders Unlimited Shareholders
Size of the Company Small or Mid-Sized Enterprises (SMEs) Largest Company
Financial Reporting Standards Less Strict Stricter
Financial Information Less informative Publicly available
Funding Prohibits invitation to the public to subscribe to shares Public can freely subscribe to shares

Although most BHD companies list their shares and trade on a stock market, this is not a mandatory requirement. A BHD company can choose to stay unlisted.

Procedures to Incorporate a Sdn. Bhd.
Sdn. Bhd. is the best choice for an Entrepreneur. Major benefits are as follows:-

An entrepreneur’s personal wealth is protected if the business making a loss or if the business fails.

Most Sdn. Bhd. are better managed and regulated. The tax planning is better as the company is a separate legal entity. Tax saving up to 20% compared to individual tax rate.

Sdn. Bhd. will never expire and the company will exist even if the key owner passes away.

The accounts are more reliable and trustworthy.

The requirements to form a company are:

  • A subscriber to the shares of the company
  • A director
  • A company secretary

Both the director and company secretary shall have their principal or only place or residence within Malaysia.

Procedures to Convert from Sdn. Bhd. to Bhd.

The procedures and Incorporation Documents for Bhd. is the same as Sdn. Bhd. The only difference is the liability of its members must be stated in the Memorandum of Association as unlimited and the company shall have minimum two directors.

Every company must have at least one company secretary in The Roboard and the company secretary must be a member of a professional body or licensed by SSM Malaysia.