This service delivery is in direct relation to MSC Malaysia Bill of Guarantee No. 4: To give the freedom to source capital globally for MSC Malaysia infrastructure, and the right to borrow funds globally
Does your business obtain the financial resources it needs to compete globally?
As part of the efforts to promote Malaysia as a major global ICT hub, the Government recognizes the need to provide flexibilities to MSC Malaysia Status companies to source capital and funds globally.
Flexibility to Source Capital and Funds Globally
Under this Bill of Guarantee, MSC Malaysia Status companies are free to source capital globally, unless otherwise stated by the Anti-Money Laundering and Anti-Terrorism Financing Act 2001, or from residents, authorities, agencies or entities of countries specified in the Exchange Control Act 1953* .
Non-residents investing in MSC Malaysia Status companies are free to repatriate any amount of capital, divestment proceeds, profits and dividends arising from their investments.
* MSC Malaysia Status companies may not source capital from “specified persons” as determined by the Controller of Foreign Exchange from time to time under the Exchange Control Act 1953, such as any residents, authorities, agencies or entities of Israel and any entity owned or controlled, directly or indirectly, by Israel or its residents as well as from those belonging to or associated with the individuals and entities pursuant to the United Nations Securities Council Resolutions (UNSCR). The list of the specified person pursuant to the UNSCR can be obtained from the United Nations’ website at http://www.un.org/Docs/sc/.
MSC Malaysia Status companies are free to remit funds abroad which are made in foreign currency and transacted through the licensed onshore banks.
MSC Malaysia Status companies are also free to borrow from resident and non-resident lenders in Ringgit and in any foreign currency** to finance their business operations.
** MSC Malaysia Status companies may not borrow from resident and non-resident lenders in the currency of Israel.
The Ringgit is currently non-internationalised. All Ringgit funding is therefore only from resident sources onshore.
MSC Malaysia Status companies can borrow in foreign currencies:
There is no restriction for principal repayment and interest payments to lenders on the Ringgit and foreign currency borrowings by MSC Malaysia Status companies.
Responsible Ministries / Agencies
For More Information
The Foreign Exchange Administration Rules of Malaysia have been progressively liberalised to facilitate a conducive and competitive business environment by enhancing the efficiency of the regulatory delivery system.
Further information on Malaysia’s Foreign Exchange Administration Rules can be obtained from the following:
Bank Negara Malaysia Foreign Exchange Administration Websitehttp://www.bnm.gov.my/index.php?ch=22&tpl_id=181
BNMLINK (Walk-In Centre)Bank Negara Malaysia
BNMTELELINK (Call Centre)Tel Number: 1-300-88-5465 or 1-300-88-LINK