KWSP Mandates Contributions for Non-Malaysian Citizen Employees Introduction Starting in October 2025, employers in Malaysia must register and contribute to the Employees Provident Fund (KWSP) for non-Malaysian employees who hold valid work passes (excluding domestic workers). The move reinforces fairness…
Input Method Percentage of Completion – Revenue Recognition Explained Introduction The Input Method Percentage of Completion is a recognized approach for revenue recognition under IFRS 15 and FRS 115 in Singapore. Unlike the output method, which tracks deliverables, this approach…
Output Method Percentage of Completion – A Guide for Revenue Recognition Introduction The Output Method Percentage of Completion is one of the most widely used approaches for recognizing revenue in long-term projects such as construction, engineering, and large service contracts.…
Introduction: Embracing Cryptocurrency Payments At USAFE, we continuously adapt to the changing financial landscape. To provide clients with more flexibility and efficiency, we are excited to announce that we now accept cryptocurrency payments in Singapore. This move reflects our commitment…
EPF’s Investment Income Rises to RM38.92 Billion in First Half of 2025 Introduction The Employees Provident Fund (EPF) has posted strong investment returns for the first six months of 2025. EPF recorded RM38.92 billion in total investment income for 1H…
Introduction On 4 September 2025, Bank Negara Malaysia (BNM) released its latest Monetary Policy Statement, reaffirming its commitment to sustaining macroeconomic stability. Following the Monetary Policy Committee’s (MPC) latest assessment, BNM opted to maintain the Overnight Policy Rate (OPR) at…
Strike Off Procedure for a Company in Malaysia Striking off is a process by which a company is removed from the Register of Companies with the Companies Commission of Malaysia (SSM). It is typically used by companies that are dormant…
Malaysia’s Phased Rollout of e-Invoicing: What Businesses Need to Know Why e-Invoicing Matters Malaysia is moving into a new digital tax era. The Inland Revenue Board of Malaysia (IRBM) is rolling out mandatory e-invoicing in stages based on annual revenue.…
The Hidden Risks in Group Consolidation – And Why You Need an Experienced Audit Partner As companies grow and expand through subsidiaries or joint ventures, preparing accurate group consolidated financial statements becomes more important than ever. These statements provide a…
WIP Working Paper for Construction Companies: Why It Matters and How to Prepare It Construction projects often span months or years. For accounting, audit, and tax purposes, the Work-in-Progress (WIP) working paper plays a crucial role. It ensures that revenue,…
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