Investment Incentive For Rubber Industry

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1 MREPC REGIONAL SEMINAR Investment Incentive For Rubber Industry Present by Mr. Mohd Rasli Muda Director, Food Technology & Sustainable Resources Malaysian Investment Development Authority (MIDA)

2 Contents About MIDA Performance of Manufacturing Sectors Overview of Rubber Industries in Malaysia Investment Policies Quality Investment Incentives Promoted Activities Under PIA, 1986 Domestic Direct Investment (DDI) Initiatives 2

3 Malaysian Investment Development Authority (MIDA)

4 Function of MIDA Promotion Evaluation Planning Follow-up / Monitoring Foreign Direct Investment Domestic Investment Business matching through E-Connect Manufacturing Services Manufacturing licenses Tax incentives Expatriate posts Duty exemption OHQ, RDC, IPC and R&D status Planning for industrial development Recommend policies and strategies on industrial promotion and development Formulation of strategies, programmes and initiatives for international economic cooperation Assist companies in the implementation and operation of their projects Facilitate exchange & co-ordination among institutions engaged in or connected with industrial development Advisory Services 4

5 One Stop Centre Based In MIDA Immigration Department Royal Malaysian Customs Telekom Malaysia Berhad Labour Department Tenaga Nasional Berhad Based outside of MIDA Department of Occupational Safety and Health Ministry of Finance Ministry of Health Ministry of Tourism Ministry of Human Resource Multimedia Development Corp. (MDeC) Construction Industry Development Board of Malaysia (CIDB) Department of Environment (DOE) Ministry of Higher Education 5

6 MIDA Regional & Worldwide Network Borneo Island -Kuching -Kota Kinabalu -12 Regional Offices -23 Oversea Centers 6

7 Performance of Manufacturing Sector

8 Manufacturing Sector Year No. of projects No. of employment Proposed investment (RM Billion) Domestic Foreign Total , , , Source: MIDA 8

9 Project Approved By Major Industry As At 2012 Industry Number of Projects Total Investment (RM million) Transport Equipment 85 7,800 Chemicals & Chemical Products 73 6,400 Petroleum Products 14 6,000 Electronics & Electrical Products 112 4,000 Basic Metal Products 37 3,800 Food Manufacturing 67 3,400 Machinery Equipment 84 1,850 Rubber Products 20 1,350 Source: MIDA 9

10 Approved Project for Rubber Industry Year No. of Projects Proposed Investment (RM million) Domestic Foreign Total ,218 1, (Jan Oct) Source: MIDA 10

11 Overview of Rubber Industry In Malaysia

12 Rubber Industries In Malaysia Latex Products Tyres and Tyre- Related products Industrial and General Rubber Productsucts 12

13 Overview of Rubber Industries In Malaysia Latex Products 125 manufacturers producing gloves, condoms, catheters, latex thread and others. Contribute 81% of the rubber total value of exports Condoms, surgical gloves, examination gloves and catheters are classified as medical gloves Malaysia as world s leading producer and exporter of catheters, latex thread and natural rubber medical gloves Major companies producing latex product Top Glove Sdn. Bhd. (Malaysia) Hartalega Sdn. Bhd. (Malaysia) Supermax Corporation Berhad (Malaysia) 13

14 Overview of Rubber Industries In Malaysia Tyres and Tyre-related Products 120 Companies 12 tyre producers and remaining companies produce tyre retreads, inner tubes and other accessories Major Tyre producers : Continental Sime Tyre AS Sdn. Bhd (Germany) Continental Sime Tyre PJ Sdn. Bhd. (Germany) Silverstone Berhad (Japan) Goodyear Malaysia Berhad (USA) Toyo Tyre Manufacturing (M) Sdn. Bhd (Japan) 14

15 Overview of Rubber Industries In Malaysia Industrial and General Rubber Products 184 Companies producing wide range of rubber products : Beltings Hoses Tubings Seals and sheeting for automotive Electrical & electronics Machinery & equipment Construction industries 15

16 Overview of Rubber Industries In Malaysia Note: *other rubber: Synthetic Rubber, Reclaim Rubber, Waste Rubber, Compound Rubber and Unvulcanised Rubber (HD Code **Jan June Sumber : Jabatan Statistik, Malaysia 16

17 Investment Policies

18 Investment Policies Foreign Equity 18

19 Manufacturing License Shareholders funds of RM2.5 million Engaging 75 full-time employees 19

20 Employment of Expatriate Personnel Companies No. of Post Eligible Duration Foreign paid-up capital of US$2 million and above Foreign paid-up capital of more than US$200,000 but less than US$2mil. Up to 10 posts (including 5 key posts) Up to 5 posts (including at least 1 key post) Key postpermanent Exec.post- 10 years Non-exec.post- 5 years 20

21 Quality Investment

22 Quality Investment Element - High value added - High technology - Knowledge intensive - Skills-intensive Objective Generate Strong Multiplier Effects Growth of Domestic Companies Cluster Development Local Sourcing Strengthening of R&D Activities Human Capital High Income Nation by

23 Incentives

24 Major Incentives 1. PIONEER STATUS Income Tax Exemption, 70% from Statutory Income for a period of 5 years Income Tax Exemption, 100% from Statutory Income for a period of 10 years 24

25 Major Incentives 2. INVESTMENT TAX ALLOWANCE Allowance of 60% on Qualifying Capital Expenditure (excluding land), incurred for a period of 5 years This allowance can be offset against 70% of the statutory income for each year of assessment. Allowance of 60% on Qualifying Capital Expenditure (excluding land), incurred for a period of 5 years This allowance can be offset against 100% of the statutory income for each year of assessment. 25

26 1. Small-Scale 60% Malaysian-owned. Other Incentives Pioneer Status - 100% tax exemption for 5 years. Investments Tax Allowance - 60% on Qualifying Capital Expenditure incurred for a period of 5 years. It can be offset against 100% of the statutory income for each year of assessment. Note: Definition of Small-Scale - Companies incorporated in Malaysia with shareholders fund not exceeding Rm2.5 million. 26

27 Incentives of Small Scale Companies Eligibility Criteria: Malaysian equity ownership: Companies with shareholders fund of up to RM500,000 with at least 60% Malaysian equity Companies with shareholders fund of above RM500,000 and less than RM2.5 million with 100% Malaysian equity. Applications must fulfill the following conditions: Value Added (VA) 25% Managerial, Technical and Supervisory Staff (MTS) index 20% Not more than 20% of the equity of the applicant company is owned, whether directly or indirectly controlled, by a holding company having shareholders funds of more than RM2.5 million. Producing products/engaged in activities listed in the list of promoted products/activities for small companies or general promoted list. 27

28 Other Incentives Reinvestment in Resource- Based Industries Another round of Pioneer Status or Investment Tax Allowance Incentives 51% Malaysian-owned Reinvestment in Expansion projects in Rubber, Oil Palm and Wood-Based Industries Product which have export potential 28

29 Promoted Activities Under PIA 1986

30 List of Promoted Products/Activities (General) Manufacture of Rubber Products Tyre for earthmover, agricultural vehicles, industries vehicles, commercial vehicles, motorcycle and aircraft. Latex products such as safety or special function gloves. Dry rubber products such as belting, hoses, pipes, tubings, rubber profiles, seals, gaskets, washers, packings, rings, rubber linings, anti vibration, damping and sound insulations. Manufacturing Related Services Enviromnment management reclaimed rubber 30

31 Promoted Activities Under PIA 1986 Small Scale Manufacture of rubber Products such as:- (a) Moulded rubber products (b) Extruded rubber products (c) General rubber products 31

32 Indirect Incentives Import Duty/Sales Tax Exemption on: -Machinery, Equipment, Spare Parts & Consumables -Raw Materials & Components 32

33 Domestic Direct Investment Initiatives

34 Domestic Investment Strategic Fund (DISF) Domestic Investment Strategic Fund of RM 1 billion To accelerate the shift of Malaysian-owned companies in targeted industries to high value-added, high technology, knowledge-intensive and innovation-based industries To be granted under the Customized Incentives Scheme on a negotiable basis based on the request of the companies and the merits of each case. 34

35 Domestic Investment Strategic Fund (DISF) Matching grants (1:1) on reimbursable basis Eligibility Criteria: Manufacturing and services companies with Malaysian equity ownership of at least 60% Priority Sectors : Aerospace Medical Devices Pharmaceuticals Advanced Electronics Machinery and Equipment Renewable Energy Services including design, R&D, testing, quality and standard certification, engineering services, technical and skills training and logistics service providers Other industries, on case by case basis 35

36 Domestic Investment Strategic Fund (DISF) Scope of the Fund: Training of Malaysians R&D activities carried out in Malaysia Obtaining international standards / certification Licensing of purchase of the new / high technology Modernisation and upgrading of facilities and tools to undertake manufacturing or services activities for Multinational Corporations (MNCs) and Malaysian conglomerates (outsourcing activities) 36

37 Incentive for Acquiring a Foreign Company for High Technology Reintroduction of the incentive for acquisition of foreign companies Malaysian-owned company acquiring a foreign-owned company abroad will be eligible for an annual deduction of 20% of the acquisition cost for 5 years. Purpose of acquisition: Establishment of a manufacturing facility/company or services company within Malaysia Utilisation of the acquired technology in their existing operations within Malaysia 37

38 Incentive for Acquiring a Foreign Company for High Technology Eligibility Criteria: At least 60% Malaysian equity ownership For public listed company: At least 60% of its equity is directly owned by Malaysians on the first day of listing on the stock exchange; and At least 50% of its equity is directly owned by Malaysians Acquisition of the foreign technology company must result in increase of performance or enhancement of technology and processes of the company s operation in Malaysia Definition of High Technology: New and emerging technologies; or Relatively new technology for the industry / sector concerned 38

39 THANK YOU MALAYSIAN INVESTMENT DEVELOPMENT AUTHORITY

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