EPF’s financial results revealed a dropped by approximately 20% year-on-year in 2022 Recent report and data from Employees Provident Fund (EPF) reported a 19.7% decline in its total gross investment income to RM55.33 billion for 2022, down from RM68.89 billion in 2021, as evidenced from lower by weaker performance across all its asset classes.  A major part of the total …

SMEs, are you concerned with the increasing employees’ costs in your business? The Malaysian Government, after implementing the increased in minimum wage from RM1,200 to RM1,500 and overtime for worker’s earning less than RM4,000 as opposed to RM2,000 previously, further reduced the minimum working hours to 45 hours from 48 hours  with increased maternity leave from 60 days to 98 …

7 things to look for when choosing an Accounting Software Starting a business? Business expansion? Documentation and compliance headache due to lack of systems and documentations? If you are looking for an accounting systems that will suit your business, here are 7 things you must consider before committing to an accounting system. It often lead to nightmare when thoughts are …

The 4 Most Important Quotients According to Psychologists, there are four types of Intelligence: Most people asked, which is more important in managing talents currently. It is crucial that both HR Personnel and Business Owners are able to know about these 4Qs and how they can use this to adapt in their business and/or teams First and foremost, let’s see …

Employers to be aware that Employment Act Will Now Cover All Employees With Effect from 1 January 2023 and the biggest financial impact is Overtime The amendments to the First Schedule of the Employment Act 1955 (“EA”) were gazetted on 15 August 2022 and with effect from 1 January 2023, the EA will apply to all employees. It is stated …

New Amendments in force for Malaysian Employees with effect from 1 January 2023 on Maternity Leave and Paternity Leave Lets start with the Maternity and Paternity Leave first What is maternity and/or paternity leave? Maternity leave is a type of leave that pregnant mothers typically take shortly before and after giving birth while paternity leave applies to fathers to their …

How and Who to Deal with Employee Absenteeism? What is employee absenteeism? Staff absenteeism is a frequent lack of attendance at work without valid cause. Absenteeism excludes emergency leave from work and the occasional uncontactable or delay in response. According to the Bureau of Labor Statistics, the absence rate for all full-time wage and salary workers is 3.2%. This means …

Want and Why Year Budgeting in Business Is Important? Most Business Owners generally start by jumping in to their business with their pumped up passion, optimism and excitement. It is normal that Many SME Business Owners to work with a rough business plan and it may lack both objectivity. Many may also treat their business like that their little baby …

What Role Does an Accountant Play in Business Operations? An accountant performs financial functions related to the collection, accuracy, recording, analysis and presentation of a business, organization or company’s financial operations. In a smaller business, an accountant’s role may consist of primarily financial data collection, entry and report generation. Middle to larger sized companies may utilize an accountant as an …

Why Should SME consider Outsourced Services in 2022? Rising Cost leading to High Inflation A report from DOSM indicates that 449 items out of 552 items prices went up in July 2022 this year. From the 552 items, 53 items has price increase of more than 10 per cent. Given the rising inflation in Malaysia, UOB Global Economic has raised …