PwC in the news
Latest media coverage
- 16 Aug: Telcos and property companies most hit by new standard (Focus Malaysia)
MFRS 15, the Malaysian equivalent of the new IFRS which introduces a single revenue recognition model will improve comparability within industries, across industries and across capital markets, says PwC Malaysia senior executive director Siew Kar Wai.
- 11 August: Amendment to accounting of bearer plants a welcome change, says PwC (The Edge Financial Daily)
There will be an accounting standard on agriculture in the country with the adoption of an amendment to the International Accounting Standard (IAS) 41 for how bearer plants are accounted for and this will allow comparability with other plantation companies locally and globally, says PwC Malaysia senior executive director Siew Kar Wai.
- 4 August: Digital banking to advance more rapidly in Malaysia (The Edge Malaysia)
We expect to see a rapid growth in digital banking in Malaysia over the next few years, says PwC's East Cluster Financial Services Leader, Hugh Harley. Banks in Malaysia take technology seriously and have invested heavily in it, adds PwC Malaysia partner and financial services leader Soo Hoo Khoon Yean.
- 25 July: PwC's CR report first in Malaysia to adopt new G4 guidelines (The Malaysian Reserve)
To champion sustainability effectively among our clients, it's essential for us as a trusted business advisor to lead by example, PwC South-East Asian Consulting Services Sustainability and Climate Change leader Andrew Chan Wing Kay comments on the release of PwC Malaysia's 2013 Corporate Responsibility (CR) report, the first in Malaysia to adopt the new G4 Sustainability Reporting Guidelines.
- 22 July: Integrated Reporting in Malaysia - basics covered, but a long way to go (World Watch)
Companies need to move away from using annual reports as a compliance document, PwC Malaysia Assurance Leader Pauline Ho comments on the state of integrated reporting in Malaysia. She recommends that companies focus on using the annual report as a platform to communicate their long-term value in a clearer and more succinct manner.
- 14 July: Building integrated retirement villages (The Edge Malaysia)
Ensuring that operators in joint ventures remain committed to projects is paramount, says PwC Malaysia Taxation Services senior executive director Khoo Chuan Keat. Chuan Keat is the project consultant for Eden-on-the-Park Sdn Bhd, the developer for the integrated retirement village concept.
- 11 July: PwC report shows no full appreciation of integrated reporting at present (The Star)
While there is a growing awareness of integrated reporting among companies in Malaysia, many still do not fully appreciate the value it brings to the business, says PwC Malaysia managing partner Sridharan Nair.
- 11 July: Listed firms lag behind foreign peers in integrated reporting (The Edge Financial Daily)
Foreign companies have more fully embraced integrated reporting compared to Malaysian public listed companies. This can be attributed to the more mature regulatory requirements overseas, says PwC Malaysia assurance leader Pauline Ho at the launch of PwC's report 'The State of Integrated Reporting in Malaysia'.
- 30 June: KL risks losing attractiveness as business centre (The Edge Malaysia)
According to PwC Malaysia managing partner Sridharan Nair, should KL lose its comparative attractiveness vis-a-vis its neighbours - whether as a business hub or a city to live in - the consequences may be difficult to reverse.
- 23 June: For dads everywhere who make a difference (The Edge Malaysia)
Fathers and husbands play a crucial role in a woman's success, says PwC Malaysia marketing and communications lead Stephanie Caunter in reference to her own dad and husband, both her pillars of support.
- 9 June: Be more proactive in revising policies, firms urged (The Edge Financial Daily)
Businesses should take a proactive approach in revising their policies with regards to the exposure of corruption, bribery and fraud, says PwC Malaysia executive director and forensics lead Alex Tan.
- 7 June: Things are looking up for KL (Focus Malaysia)
Kuala Lumpur has moved up a notch from last year’s 18th placing to 17th in the latest edition of PwC’s Cities of Opportunity 6 survey of 30 cities. The Malaysian capital achieves the highest ranking for the cost indicator, which measures a city’s standard of living.
- 6 June: Property developers urged to understand and review IFRS 15 (The Edge Financial Daily)
IFRS 15 is a new model that will require a new mindset and it will take some time to digest the guide and its implications, says senior partner of PwC’s Global Accounting Consulting Services and member of the IFRS Interpretation Committee Tony de Bell. Malaysian Accounting Standards Board (MASB) chairman Dato’ Mohammad Faiz Azmi, who is also PwC Malaysia’s executive chairman adds that MASB is hoping to issue the IFRS as a standard in Malaysia within two months, which will then make it the Malaysian Financial Reporting Standard (MFRS) 15.
- June: Cloud Control (ACCA Accounting & Business)
Security is still the main concern for public clouds, a major factor causing banking regulators to be hesitant in pushing for the adoption of cloud technology in Malaysia, says PwC Malaysia executive director Teh Lip Guan. Banks need to develop a sound strategic framework prior to embarking on the cloud journey, he suggests.
- 28 May: Macro-economic concerns, rising interest rates top risks for Malaysian bankers (The Edge Financial Daily)
Traditionally, Malaysian bankers have always been cautious about the risk outlook of the industry, which explains the relatively high level of anxiety among Malaysian banks compared to other countries globally, says PwC Malaysia assurance partner Ong Ching Chuan, in reference to the Malaysian results of the Banking Banana Skins 2014 report.
- 26 May: Malaysians more pessimistic about corruption (The Edge Financial Daily)
While the level of corruption in Malaysia is relatively high, “people think it is a lot worse than it actually is”, says PwC Malaysia executive director and forensics lead Alex Tan, in reference to the Malaysian results of PwC’s Global Economic Crime Survey 2014 report. Alex Tan was speaking at The International Compliance Leadership Series II event, organised by MICCI.
- 10 May: Second generation leaders (Focus Malaysia)
Preparing for succession transition is key to avoid the common inter-generation succession pitfalls in second-generation businesses, meaning after a family member is identified to succeed in the family business, there has to be a structured succession process in place well ahead of the years leading up to the moment of transition, says PwC Malaysia assurance partner Eric Ooi, who also leads the regional Entrepreneurial and Private Clients (EPC) services for PwC across Asia Pacific, and in Malaysia.
- 10 May: Procurement fraud a growing economic crime (Focus Malaysia)
In Malaysia, the procurement fraud that we encounter typically involves staff providing opportunities to friends and contacts or staff putting pressure on existing suppliers to pay kickbacks, says PwC Malaysia executive director and forensics lead Alex Tan at the launch of the Malaysian cut of the Global Economic Crime Survey.
- 5 May: One for the guys (The Edge Malaysia)
If we're serious about helping women succeed at the workplace, we have to help the men help the women, and we should start by recognising our men for being a great parent, says PwC Malaysia marketing and communications lead Stephanie Caunter.
- 3 May: Blowing hot and cold (The Star)
70% of the respondents of the Malaysian cut of PwC's Global Economic Crime survey say that their companies have a whistleblower mechanism in place. However, PwC Malaysia cautions that it's not enough to just put in a whistleblower hotline; more importantly the hotline should be properly implemented and communicated.
- 25 April: Watch out for cybercrime, says PwC (The Sun)
Malaysia's financial services sector in particular, has the biggest risk to cybercrime, with individuals as the primary victim and financial institutions the secondary victim as a result of phishing attacks, says PwC Malaysia executive director and forensics leader Alex Tan in reference to the Malaysian results of PwC's 2014 Global Economic Crime survey.
- 25 April: Economic crime on the rise, says PwC (New Straits Times)
Despite the growing awareness of economic crime among companies in Malaysia, they may still do more to protect themselves, says PwC Malaysia executive director and forensics leader Alex Tan at the launch of the Malaysian cut of PwC's 2014 Global Economic Crime survey. PwC Malaysia executive chairman Dato' Mohammad Faiz Azmi added that the flipside of the growing awareness of cybercrime in particular, is the false sense of security among companies.
- 22 April: Gearing up for the Gen-Y era (Business Circle)
Social media should be used to drive innovation through the sharing of ideas and social collaboration, which is valued by the Gen Y, says PwC Malaysia financial services leader Soo Hoo Khoon Yean. (This article was first published at www.businesscircle.com.my)
- 19 April: Women believe in merits to sit in boardrooms (Focus Malaysia)
A quota may be necessary as the fastest way of raising the number of women on boards. Personally, I feel it’s only a quick fix as it measures quantity rather than quality. We should look at diversity as a business issue, beyond glass ceiling terms, says PwC Malaysia diversity leader Chin Suit Fang.
- 7 April: Do Not Call Registry being pondered (The Edge Financial Daily)
We look forward to the setting up of the data user forums to come up with code of practices for greater clarity, says PwC Malaysia senior executive director Ong Ai Lin, in relation to the latest requirements to strengthen data users’ compliance with the Personal Data Protection Act (PDPA).
- 7 April: Be yourself, be different (The Edge Malaysia)
In the spirit of PwC's Global Diversity Week, marketing and communications lead Stephanie Caunter shares why she feels strongly about celebrating the uniqueness of each individual and the small efforts we can make in our everyday lives to practice diversity.
- 2 April: Lack of communicative ability biggest leadership gap in Malaysia (The Edge Financial Daily)
Leaders in Malaysia naturally displayed a sense of humility due to a strong sense of community and culture in Malaysia, says PwC Malaysia managing partner Sridharan Nair at the launch of The ICLIF Leadership & Governance Centre’s Asian Leadership Index (ALI) study.
- 22 March: Why social media? Y not? (The Edge Malaysia)
Our GenY digital natives Nabiya Anthony (a management consultant) and Sarah Lee (a PR professional) answer fans' burning questions on social media in business, Twitter-style (140-characters), in this week's Edge article. This article which shows why social media makes good business sense, is the final part of the series based on our Getting social: Social media in business report.
- 10 March: Social media aide-memoire for boards (The Edge Malaysia)
As stewards of the company, the board is ultimately responsible to drive social media growth via a dedicated social media strategy, says Sundara Raj, consulting leader in Malaysia for PwC’s South East Asian Consulting Services.
- 10 March: More time needed to comply with PDPA (The Edge Malaysia)
PwC senior executive director, Ong Ai Lin says that depending on the size of the organisation, there are the information technology enchancement activities, development of policies and procedures as well as the change-management and training activities that need to be put in place. As such, it will take several months for an organisation to fully comply with the Personal Data Protection Act 2010 (PDPA), which came into force on November 15, last year.
- 8 – 21 March: New financial reporting standards for SMEs (Malaysia SME)
Changes to the accounting standards and reporting framework should be based primarily on the needs of the users of the financial statements and public interest considerations, says Dato’ Mohammad Faiz Azmi, Malaysian Accounting Standards Board (MASB) chairman and PwC Malaysia executive chairman, in relation to the introduction of the Malaysian Private Entities Reporting Standard (MPERS).
- 7 March: Reporting what matters, where it matters (The Malaysian Reserve)
Both the GRI G4 sustainability guidelines and the total impact measurement and management concept show that moving forward, there will be a greater focus in using sustainability reporting as a meaningful stakeholder engagement tool, says PwC Malaysia sustainability and climate change associate director Natasha Yap.
- 3 March: A vested interest (The Edge Malaysia)
PwC Malaysia marketing and communications lead Stephanie Caunter shares why she’s personally vested in gender diversity.
- 26 February: Potential mergers seen among small – mid O&G players, says PwC (The Edge Financial Daily)
Malaysia has great potential to be a strategic hub for oil & gas players who want access to growing nations and emerging markets, given its recognition as a business friendly environment, says PwC Malaysia managing partner Sridharan Nair at the launch of The Oil & Gas Year Malaysia 2014.
- 24 February: Finding my tweet spot on social media (The Edge Malaysia)
I encourage business leaders out there to seriously consider why social media can bring benefits to their business and themselves, by embracing the 3As of tomorrow’s leader - be accessible, authentic and aware, says PwC managing partner Sridharan Nair.
- 7 February: Warming up to climate change management and disclosure (The Malaysian Reserve)
Besides enhancing one’s reputation; measuring, managing and reporting emissions help companies understand the impact of their business activities on climate change, says PwC Malaysia sustainability and climate change manager Elaine Chan.
- February: Deepening the capital market (ACCA Accounting and Business Malaysia)
PwC Malaysia Assurance partner Soo Hoo Khoon Yean comments on recent capital market developments and the role of accountants in shaping the dynamics of the capital market, in this article.
- 27 January: New year’s resolutions (The Edge Malaysia)
Don’t hold yourself back from achieving the things you dream of, says PwC Malaysia marketing and communications lead Stephanie Caunter, reflecting on the fulfilling year behind her.
- 10 January: Sustainability reports should be assessed and verified by qualified 3rd parties to lend greater credibility to such reports (The Malaysian Reserve)
The quality of sustainability reporting can be improved by investing in third party assurance, says PwC Malaysia associate director Rashyid Anwarudin.
- January: The new nine-to-five (Her World)
PwC Malaysia assurance senior manager Johanna Ramli shares how she has benefitted from PwC's flexible work arrangement (FWA). Our human capital leader Chan Chong Kong explains that career progression and opportunities for development and exposure don't stop just because a staff opts for FWA.
- January: GST – A boost to SMEs? (Business Advocate)
PwC Malaysia senior executive director Tony Chua shares about GST and the benefits that small and medium enterprises (SMEs) can derive from the elimination or lowering of sales and services tax (SST) costs under this regime.
- 30 December: Getting social (The Edge Malaysia)
Social media is a business issue. Like any item on the business agenda, there needs to be direction from the top, says PwC Malaysia marketing and communications lead Stephanie Caunter in reference to PwC Malaysia's recently released report "Getting social: Social media in business".
- 27 December: Tips on how you can minimise your tax bill (The Sun)
Chartered Tax Institute of Malaysia president and PwC Malaysia senior executive director SM Thanneermalai shares some useful tips on minimising one's taxes as the year of assessment draws to a close.
- 20 December: Social media the new ad currency? Think again (Advertising & Marketing Malaysia)
Social media reputation requires time to build, especially when it comes to increasing C-suite presence on social media. But it's a necessary step companies need to take in order to support their reputation and actions offline in a physical world, says Sundara Raj, leader of PwC Malaysia's Consulting practice, in reference to a new study on social media by PwC.
- 12 December: The business of going social - Social media metrics? (Digital News Asia)
According to PwC Australia digital intelligence lead, Jason Juma-Ross, it takes an organisation a long time to embrace social media channels because many of these companies already have established processes and large investments built into their existing channels. He was speaking at a panel discussion in conjunction with the release of PwC Malaysia's 'Getting social: Social media in business' report recently.
- 12 December: The business of going social (Digital News Asia)
While enterprises in Malaysia generally acknowledge the power of social media as a genuine tool to enhance prospects and create brand awareness amongst consumers, they do not comprehensively understand how it impacts their business, nor do they have formal methodologies to track its return-on-investment (ROI), revealed a new study by PwC.
- 10 December: Survey: Most local firms not social media savvy (The Sun)
Malaysian companies are fairly active on social media but they do not recognise how it impacts their business, according to PwC Malaysia's inaugural report on social media.
- 2 December: Sustainability, corporate governance make good bedfellows (The Malaysian Reserve)
With the growing decline in public trust in the aftermath of the global financial crisis, boards are increasingly under pressure to step up in their role as corporate governance stewards, says PwC Malaysia sustainability and climate change manager Adelene Anthony.
- 25 November: Parenting 101 (The Edge Malaysia)
PwC Malaysia marketing and communications senior manager Stephanie Caunter shares about her parenting experiences and how her role as a team leader at PwC has helped her to be more flexible to her daughter’s needs.
- 4 November: Taking the bold and progressive route (The Edge Malaysia)
Budget 2014 introduces the most comprehensive fiscal reform we have seen in recent times, including the announcement of GST to reduce our reliance on direct taxes, says PwC Malaysia tax leader Jagdev Singh.
- November: Drivers of change (ACCA Accounting and Business Malaysia)
PwC Malaysia executive chairman Mohammad Faiz Azmi addresses some of the key issues shaping the accounting profession during ACCA’s CFO Breakfast Talk Series, organised in collaboration with PwC and based on the highlights from ACCA’s ‘100 Drivers of Change for the Global Accountancy Profession’ report. This includes growing skill sets that aren’t typically part of the accountant’s remit, enhancing trust, and getting the finance function recognised as more than just a compliance function.
- November: Tools for growth (ACCA Accounting and Business Malaysia)
Sustainability is still at an embryonic stage in Malaysia. Companies are still moving up the learning curve and finding their own way of doing things, says PwC Malaysia executive director Jack Cunningham.
- 28 October: Support - The untold truth (The Edge Malaysia)
Companies should be sensitive to the needs of working mothers, especially first-time mums returning to work after maternity leave, says PwC Malaysia marketing and communications senior manager Stephanie Caunter.
- 25 October: 2014: GST implementation in April 2015, reasonable - Wahid (New Straits Times)
The 2014 Budget addresses one of the most comprehensive reforms to reduce Malaysia's fiscal deficit and manage its debt level; as such, the country is well-positioned for fiscal reforms and becoming a high-income nation, says PwC Malaysia managing partner Sridharan Nair.
Note: The article was first published in Bernama.
- 22 October: Easing the burden of the urban middle class (The Sun)
The government needs to provide assistance to the urban middle class to address the rising cost of living, says Chartered Tax Institute of Malaysia president and PwC Malaysia senior executive director SM Thanneermalai.
- 21 October: Need to adopt a targeted, sustainable approach (The Sun)
The government needs to adopt a targeted approach to address the needs of the middle income group and ensure that the quality of life of the rakyat is not compromised, says PwC Malaysia tax leader Jagdev Singh
- 18 October: GST shouldn't be delayed, says PwC (The Sun)
PwC Malaysia senior executive director Wan Heng Choon says that the challenges in dealing with the country's budget deficit will increase or worsen, potentially resulting in a further downgrade by global rating agency Fitch Ratings, if GST is not implemented soon.
- 18 October: Bring back pre-2007 RPGT (The Sun)
The government should bring back the rates for the real property gains tax (RPGT) that were introduced prior to 2007 to effectively curb property speculation and control rising property prices, says PwC Malaysia senior executive director Steve Chia.
- 18 October: GST rate should be at 6% (The Edge Malaysia)
PwC Malaysia senior executive director Wan Heng Choon explains why the indicative rate for the country's goods and services tax (GST) should be 6% when implemented.
- 17 October: Malaysia should look at capital gains tax too (The Malaysian Reserve)
Malaysia should explore the possibilities of introducing new tax mechanisms besides GST. This includes the capital gains tax and offshore income gains tax, to widen the country's tax collection base, says PwC Malaysia senior executive director SM Thanneermalai.
- 14 October: Can we afford to reduce tax rates? (The Edge Malaysia)
PwC Malaysia tax leader Jagdev Singh weighs in on GST and whether the revenue potentially generated by this broad-based tax will be sufficient to buffer the fall in tax revenue in the event of a reduction in corporate and individual tax rates.
- 12 October: Time to reform tax penalties? (Focus Malaysia)
A well-structured and equitable penalty system is crucial to encourage voluntary compliance with tax laws and payment of taxes, says PwC Malaysia senior executive director Phan Wai Kuan.
- 11 October: Making Malaysia 'greener' (The Malaysian Reserve)
The government should recognise green technology as a new driver for economic growth as it offers significant opportunities and potential for cost savings, economic creation and innovation, says PwC Malaysia senior executive director Steve Chia.
- 2 October: Budget 2014 -Our immediate priority (The Sun)
The government's immediate priority during Budget 2014 should be to address the needs of 90% of the population who are earning less than RM5,000 a month, says Chartered Tax Institute of Malaysia president and PwC Malaysia senior executive director SM Thanneermalai.
- October: Toolkit or fad? (ACCA Accounting and Business Malaysia)
Many local and international firms in Malaysia are becoming more strategic about sustainability but for the most part, businesses still expect that sustainability must have an immediate 'payback', says PwC Malaysia executive director Jack Cunningham.
- September – October: Forensic Accountants: Specialists in demand (The Malaysian Accountant)
Companies are recognising the importance of forensic accountants in providing the Board and management with an independent and expert view on fraud and other aspects of investigative accounting, says PwC Malaysia executive director Alex Tan. This article appears in The Malaysian Accountant journal, published by The Malaysian Institute of Certified Public Accountants (MICPA).
- 23 September: Work at my desk or Starbucks? (The Edge Malaysia)
Flexible work arrangements may still be a relatively new concept in Malaysia. But organisations need to evolve to meet the changing needs of the workforce especially the Gen Y who increasingly expect workplace flexibility, says PwC Malaysia marketing and communications senior manager Stephanie Caunter.
- 23 September: Middle income pain gets worse: Taxing issues (The Edge Malaysia)
The government should consider widening the income tax bands as a medium-term measure to ease the tax burden of middle-income earners, says PwC Malaysia tax leader Jagdev Singh.
- 17 September: Goods and services tax – it’s on our doorstep (The Sun)
If GST is to be introduced during Budget 2014, it will have to be part of the fiscal reforms package to address Malaysia’s fiscal deficit, says Chartered Tax Institute of Malaysia president and PwC Malaysia senior executive director SM Thanneermalai.
- 12 September: Running and sweating for a good cause (The Edge Financial Daily)
PwC Malaysia is participating in the KL Rat Race for the 13th time this year. It makes sense to run for a good cause, says PwC Malaysia assurance leader Pauline Ho. Besides giving back to the community, the event also allows me to interact with the other participants, she adds.
- 9 September: More challenges for boards (The Edge Malaysia)
It’s critical for boards to understand and be involved in shaping company strategy, says PwC Hong Kong senior advisor David Eldon. PwC Malaysia Executive Chairman Mohammad Faiz Azmi also comments on the increasing acceptance of Board effectiveness reviews (BER) among companies in Malaysia
- 7 September: Will GST finally come in 2015? (Focus Malaysia)
As the GST is a consumption tax, it will provide a more stable revenue for the country, says PwC Malaysia senior executive director S.M. Thanneermalai
- 6 September: Roundtable brings sustainable development under the microscope
(The Malaysian Reserve)
Malaysia needs a clearer roadmap for sustainable development, especially if it is to meet the 2020 target to reduce carbon emissions by 40%, says PwC Malaysia executive director Jack Cunningham at The Malaysian Reserve’s Managing Malaysia Series: Green Growth Roundtable recently.
- 2 September: Helping grads prepare for work (The Edge Malaysia)
To attract and engage graduates, we need to offer them something they are looking for. This includes soft skills such as interview skills and communication skills to equip them for the real world, says PwC Malaysia’s head of resourcing Mona Abu Bakar.
- September: Connecting the dots (ACCA Accounting and Business Malaysia)
Integrated reporting enables companies to define their own story in a more coherent and strategic manner, says PwC Malaysia managing partner Sridharan Nair at a recent forum on integrated reporting organised by Bursa Malaysia and ACCA.
- September: Top of the World (Her World)
Employers don’t recognise the importance of championing women’s advancement, viewing it merely as a gender issue instead of a business opportunity. That is why there are so few women in leadership positions in Malaysia, says PwC Malaysia markets leader Chin Suit Fang.
- 19 August: Lean in, millennials. Lean in, leaders (The Edge Malaysia)
Gender diversity matters in Malaysia not because we pity women, or want to be nice, but because it’s a real business issue, says PwC Malaysia marketing and communications senior manager Stephanie Caunter.
- 19 August: Many ways to make housing affordable, says PwC Capital (The Edge Malaysia)
Affordable housing should be a priority for the public and private sector, as well as civil society. Addressing the core issue, which is construction costs, will help solve a lot of problems and reduce government spending, says PwC Malaysia executive director Andrew Chan Yik Hong.
- 13 August: PwC forms new consulting JV (The Sun)
With the launch of PwC's new South East Asian Consulting joint venture, PwC is set to grow our consulting business and take on new opportunities in this region, says PwC Malaysia managing partner Sridharan Nair.
- 12 August: Big data - there's bite in them bytes (The Edge)
Businesses need to have a big data strategy in place that is formulated with fraud prevention and detection in mind, says PwC Malaysia associate director Neil Meikle.
- 12 August: Flexible work arrangements (The Edge Malaysia)
Trust and clear expectations on KPIs and outcomes need to be in place for programmes such as flexible work arrangements to succeed, says PwC Malaysia managing partner, Sridharan Nair.
- 12 August: Integrated reporting gives better picture of company's worth (The Edge Financial Daily )
PwC Malaysia managing partner Sridharan Nair says that companies should also look at ways of communicating what may be useful to shareholders in terms of value creation and not just focus on complying with regulations and standards in their reporting.
- August: Islamic peg in the IFRS hole (Accountancy Futures, Issue 7, 2013)
The International Financial Reporting Standards (IFRS) need to accommodate Islamic finance transactions in the global marketplace, says PwC Malaysia executive chairman Mohammad Faiz Azmi.
- July - August: The new and improved Malaysian financial services landscape: What it means to you (INSURANCE Malaysia)
The new Financial Services Act 2013 (FSA) and the Islamic Financial Services Act 2013 (IFSA) places greater requirements on financial services institutions with emphasis on the entity’s financial security and business conduct, which may change how Malaysian financial services institutions operate in the future, says PwC Malaysia executive director Angie Wong.
- July - August: Branding Malaysia as a high value destination for finance shared services
As globalisation continues, increased acceptance of offshore delivery and scarcity of talented resource skill sets will push organisations to maximise the value of shared services in strategic locations like Malaysia, says PwC Malaysia executive director Carmen Tang.
- 29 July: Thinner and flatter corporate structure is the way to go (The Edge Malaysia)
Corporate leaders need to periodically review their business structures and assess if corporate simplification is necessary to support their growth strategies, says PwC Malaysia executive director Victor Saw.
- 15 July: Managing successful IT projects (The Edge Malaysia)
A successful IT project requires the detailed management of people and their expectations, says PwC Malaysia executive director Shahrin Ismail.
- 1 July: Getting a seat at the strategy table (The Edge Malaysia)
HR professionals need to start measuring HR data, learn statistics and analytics, and use these tools effectively to demonstrate the return on people investments and the value they add to the business, says PwC Malaysia associate director Adwait Kashalkar.
- July: Consult the experts – question on GST (Personal Money)
Wan Heng Choon and Raja Kumaran, PwC Malaysia senior executive director and executive director respectively, respond to a question from a reader on GST and what it means for the rakyat.
- 17 June: Doing deals: Intangible assets, a key value driver? (The Edge Malaysia)
Intangible assets are increasingly seen as a key driver of deals value. The challenge lies in accurately identifying and valuing intangible assets pre-deal, says PwC Malaysia executive director Leonard Woo.
- 7 June: GST turunkan harga barang, perkhidmatan (Berita Harian)
GST is a more comprehensive and transparent tax compared to the existing sales tax and service tax (SST), says PwC Malaysia senior executive director Wan Heng Choon. (translated summary).
- 7 June: PwC recommends 6% GST (The Sun)
A GST rate of 6%, which is similar to the current service tax, would be ideal as it yields better long term benefits, widens the nation's tax base and enhances the government's revenue, says PwC Malaysia senior executive director Wan Heng Choon.
- 7 June: Post-election relief for print media (Focus Malaysia)
Diversification into online portals and news sites is an industry challenge for established media brands as they grapple for increased market share in the digital domain, says PwC Malaysia Technology Information Communication Entertainment division partner Irvin Menezes.
- 7 June: Developers cry foul over Johor property tax plan (Focus Malaysia)
The Johor government's recent proposal to increase property tax for foreigners in the state should be accompanied by a detailed study by the private sector and the industry to ensure that the interests of the various stakeholders are addressed, says PwC Malaysia senior executive director Steve Chia.
- 7 June: PwC: GST has tax benefits (The Malaysian Reserve)
GST implementation should be in tandem with the progressive lowering of taxes on corporate and individual income to ensure a more equitable tax system, says PwC Malaysia senior executive director Wan Heng Choon.
- 3 June: Doing deals - a case for building a business empire, really? (The Edge Malaysia)
M&A is often seen as exciting and the easiest way to grow but many don't realise that aggressive expansion via M&A might lead to value destruction, says PwC Malaysia Executive Director Albert Lee.
- 13 May: Mind shift needed to make room at the top for women (The Malaysian Reserve)
It makes good business sense to have women in decision making roles as they have spending power and know what the market wants, says PwC Malaysia markets leader Chin Suit Fang at a recent panel discussion themed "Women Rising To The Top - What's Holding You Back?".
- May: Balancing Act (ACCA Accounting & Business China)
There may be certain points in a woman’s career when she may slow down or take a break, but that doesn’t have to be the end of her career, says Pauline Ho, PwC Malaysia assurance leader, in reference to PwC’s WorkLife Plus programme. This programme offers flexible working arrangements for PwC’s employees in helping them balance their work and personal lives.
- 26 April: Keeping employees happy beyond rewards (The Malaysian Reserve)
Employers must realign their talent strategies, especially in the areas of employee engagement, motivation and retention to bring out the best in their Gen Y employees, says PwC Malaysia executive director Ramon Chelva at a recent panel discussion themed "Beyond Rewards: What Keeps your Employees Happy".
- 22 April: It’s filing season again (The Sun)
Chartered Tax Institute of Malaysia (CTIM) president and PwC Malaysia senior executive director S. M. Thanneermalai provides an overview of the income tax filing process in this article.
- April: BYOD: here to stay (ACCA Accounting & Business Malaysia)
Mobility has become a crucial part of the client engagement experience at PwC. We have introduced several flex initiatives to empower our employees including the use of iPads by our partners and directors, says PwC Malaysia executive director Shahrin Ismail.
- 22 April: Empowering women (The Edge Malaysia )
Companies looking to optimise their women talent need to view this issue as a business opportunity, and not a women’s issue. Men, especially those in management positions need to champion this issue, says PwC Malaysia senior executive director Chin Suit Fang.
- 17 April: Growth in banking M&A (The Sun)
Malaysian banks will continue to seek growth through M&A and expand regionally, says PwC Malaysia advisory leader Tan Siow Ming. This is a promising outlook, considering the overall decline in global banking M&A, as shown in PwC’s new paper, The Journal - Brave new world: New frontiers in banking M&A.
- 7 March: M’sian firms top on managing sustainability (The Edge Financial Daily)
Companies recognise the relevance of sustainability to their business but few are actually making it a regular boardroom agenda, says PwC Advisory Services Malaysia consulting leader Sundara Raj at the launch of PwC’s report on sustainability strategy. The report, titled ‘Going beyond philanthropy?’ is based on a survey on how companies in emerging ASEAN economies, structure and manage sustainability.
- 6 March: Malaysian firms rank top in emerging ASEAN sustainability (The Edge Financial Daily)
Malaysia is the most matured market in the area of sustainability management, out of the five largest emerging economies in the ASEAN region; which also comprises Thailand, Indonesia, Philippines and Vietnam, says PwC Advisory Services Malaysia associate director Jack Cunningham at the launch of PwC’s report on sustainability strategy.
- February: Quarrels over? (ACCA Accounting and Business Malaysia)
It is crucial to recognise the distinctions between bearer biological assets (BBA) and consumable biological assets (CBA) in the IAS 41 accounting standard debate. The manner in which the economic benefits are derived from BBA differs considerably from CBA, says Malaysian Accounting Standards Board (MASB) chairman and PwC Malaysia executive chairman, Mohammad Faiz Azmi.
- 3 February: Tuned in to youth (New Sunday Times)
PwC’s Millennials at Work survey and the Graduan Aspire survey help employers understand the Gen Y, and craft inclusive people policies and plans to bring out the best in them, says PwC Malaysia’s head of resourcing Mona Abu Bakar.
- January: Millennials - Reshaping the workforce (HR Matters)
Employers must realign their talent strategies, especially in the areas of employee engagement, motivation and retention, in addressing the different dynamics that millennials bring to the workforce, says PwC Malaysia executive director Kartina Abdul Latif.
- 28 January: Staying relevant for tomorrow (The Edge Malaysia)
Organisations need to understand the different types of diversity that the Gen Y brings to the workforce, as seen in their attitudes towards work life and progression, says PwC Malaysia managing partner Sridharan Nair.
- 17 January: Emerging economies to outperform industrialised nations (New Straits Times)
Malaysia has strong growth potential, having recently regained its attraction as a destination for foreign direct investment, as shown in the latest 'World in 2050' report, says PwC Malaysia managing partner Sridharan Nair. The challenge is for the nation to be agile and adaptable to stay competitive in the global marketplace.
- January: Charting the future (ACCA Accounting and Business Malaysia)
Sridharan Nair and Mohammad Faiz Azmi share about their new roles as PwC Malaysia Managing Partner and Executive Chairman, respectively, and the challenges facing both the firm and the industry.
- 8 December: After Olam, IAS41 deferred till 2014 (Focus Malaysia)
Plantation companies in Malaysia are concerned about using the IAS41 accounting standard to fairly estimate the future price of plantation trees due to the characteristics of biological assets which can reproduce and increase in quantity, says PwC Malaysia senior executive director Regina Fikkers.
- December: Capital Projects: Keeping your eye on the ball (Oil & Gas Asia)
Malaysia’s oil and gas industry is embarking on the largest capital expenditure programme ever seen over the next decade, in line with the nation’s Economic Transformation Programme (ETP) initiatives, says PwC Malaysia Oil & Gas Leader Nurul A’in Abdul Latif.
- 8 October: Fit for purpose (The Edge Malaysia)
While Budget 2013 has introduced measures which are innovative, some bolder moves are expected in the coming months as we deal with a rapidly changing landscape, says PwC Malaysia tax leader and senior executive director Jagdev Singh.
- 24 September: Reforms for the long term (The Edge Malaysia)
Focus on this year's budget should be on: creating sustainable growth (including tackling deficit), making sure the incentives given out have a multiplier effect and addressing the talent gap, says PwC Malaysia tax leader and senior executive director Jagdev Singh.
- 15 September: Budget 2012 a delicate balancing act (The Edge Malaysia)
Jagdev Singh, senior executive director and tax leader at PwC Taxation Services Malaysia, expects the upcoming budget to focus on three broad areas - ensuring sustainable growth, developing human capital and reducing the deficit.
- 7 September: Asia-Pacific CEOs upbeat on economic integration (The Malaysian Reserve)
Asia Pacific CEOs will need to extend their presence beyond their home markets, innovate their products and processes, and develop the right talent for future business opportunities in a region witnessing rapid growth, says PwC Malaysia managing partner Sridharan Nair.
- July / August 2012 | Accountants Today: Audit Committees - Assuring Audit Quality
The Malaysian Institute of Accountants (MIA) participated in the first governance programme for Bursa Malaysia's Half-Day Governance Programme Series, entitled "Role of the Audit Committee in Assuring Audit Quality". PwC Malaysia partner Ong Ching Chuan, shares his views.
- 27 August: CSR as a pathway to profitability (The Edge Malaysia)
Companies should move progressively away from philanthropy towards sustainability, value creation and ultimately leadership, says PwC Malaysia associate director Jack Cunningham.
- 25 August: Raising the participation of women in the workforce (The Edge Malaysia)
PwC Malaysia is one of the best in terms of women in senior positions, with about 36% of partners being female, says PwC Malaysia partner Pauline Ho.
- 23 July: It takes more than just a smile (The Edge Malaysia)
Companies can differentiate themselves in the marketplace by putting customers at the core of business decisions enterprise-wide, says PwC Malaysia associate director Christine Werner.
- 9 July: M&A - is it a wedding or a marriage? (The Edge Malaysia)
Maximise deal value by taking control right at the start to reduce the risk of an M&A failure, says PwC Malaysia executive director Andrew Marshall.
- 25 June: Is 'now' Malaysia's window of opportunity? (The Edge Malaysia)
It's timely for Malaysian companies to tap the South East Asia market. Many foreign investors are using Malaysia as a base for their regional operations, says PwC Malaysia executive director Paran Puvanesan.
- 11 June: Better risk management and resilience (The Edge Malaysia)
Businesses need to manage risks better and diligently, in a manner relevant to the risk landscape today, says PwC Malaysia associate director Calvin Jacob.
- 28 May: A CEO's headache (The Edge Malaysia)
Strategic people planning (SPP) supports the integration of the HR function by hardwiring people planning and delivery to corporate processes, says PwC Malaysia executive director Kartina Abdul Latif.
- 14 May: You can't manage what you don't measure (The Edge Malaysia)
Malaysian companies need to start measuring their carbon emissions before they can take steps to reduce them, says PwC Malaysia associate director Rashyid Anwarudin.
- 26 March: Implications of India's budget for foreign investors (The Edge Malaysia)
Malaysian companies that have invested in India are bound to be affected by India's recent 2012-13 Budget proposals, say Thannermalai Somasudaram and Aditya Narwekar, PwC Malaysia senior executive director and senior manager, respectively.
- 21 March: Malaysian banks to reshape their business: Survey (The Sun)
The Malaysian banking industry is expected to reshape their business to drive growth and reduce costs in order to manage the increasingly complex financial landscape, says PwC Malaysia partner, Soo Hoo Khoon Yean.
- 21 March: Malaysian banks should be innovative (The Malaysian Reserve)
Malaysian banks should be more innovative and adopt "game changing strategies" in order to seize business opportunities within the region and globally, says PwC Malaysia partner Soo Hoo Khoon Yean.
- 20 February: Cooperation needed to fight insurance fraud (The Sun)
Collaboration between all parties is necessary to tackle the long-standing issues of fraud and claim leakages that have plagued the motor insurance industry for many years, says Angie Wong, PwC Malaysia executive director.
- February: The rise of REITs (iProperty magazine)
What are Real Estate Investment Trusts (REITs) and how do they fit into your investment portfolio? Jennifer Chang, PwC Malaysia senior executive director explains.
- 3 February: Malaysian financial institutions need to be prepared to deal with multiple regulators as they regionalise, say experts (Compliance Complete Asia, Thomson Reuters Accelus)
Malaysian financial institutions venturing overseas need to be prepared to deal with multiple regulators and diversity in regulatory policies, on the heels of recent developments introduced in the Financial Sector Blueprint (FSB), says Soo Hoo Khoon Yean, PwC Malaysia partner.
- 26 January: CEOs still confident of growth prospects (The Edge Malaysia)
According to PwC’s 15th Annual Global CEO survey, CEOs are still very confident of their companies’ revenue growth prospects despite a lack of confidence in the global economy outlook.
- 2 January: Awareness of cybersecurity still lacking (The Edge Malaysia)
Lim San Peen, PwC Malaysia senior executive director,shares his views on cybersecurity based on the findings of PwC's 6th Global Economic Crime Survey
- 28 December: M&A activities to spur insurance sector in 2012 (The Edge Malaysia)
Angie Wong, PwC Malaysia’s executive director of financial services, shares her views on merger and acquisition (M&A) activities, which has kept the financial services industry bustling this year and is expected to continue in 2012, particularly in the insurance sub- sector.
- 22 December: Cyber crime a growing threat to Malaysian businesses (The Edge Malaysia)
Lim San Peen, PwC Malaysia senior executive director, and Chong Shao Yen, executive director, discuss the findings of PwC's study on global economic crime.
- 5 December: Turning a dream into reality in Malaysia's classrooms (The Edge Malaysia)
Keeran Sivarajah and Dzameer Dzulkifli, co-founders of Teach for Malaysia, credit their working experience in PwC Malaysia and support from its leaders to the success of the programme.
- 23 November: Many firms favour M&A deals (The Malaysian Reserve)
Malaysian financial services companies are upbeat about expanding their businesses through foreign mergers & acquisitions (M&A) in Asia as global growth shifts to the East, says PwC Malaysia partner, Soo Hoo Khoon Yean.
- 23 November: PwC upbeat on financial M&A (The Sun Daily)
There will be more merger and acquisition (M&A) activities in Asia in the next 12 to 18 months as the focus of global economic growth shifts to the East, with continued interest in cross-border transactions, says PwC Malaysia partner, Soo Hoo Khoon Yean.
- 21 November: Climate change reporting heats up in Asia (The Edge Malaysia)
Climate change reporting is gaining momentum in Asia, especially Malaysia. However, the levels are below average compared with global leading sustainability companies, say PwC Malaysia associate directors Ng Yin Ching and Rashyid Anwarudin.
- 17 October: Malaysia must find its niche in regional economy (The Edge Malaysia)
Malaysia needs to up its ante in the regional economy or risk losing out to our neighbours in the war for profits and talent. The government can only do so much, as seen in Budget 2012, so it's up to the private sector and the rakyat to join forces with the government to build a sustainable economy for all, says PwC Malaysia senior executive director Khoo Chuan Keat.
- 10 October: More efficient IRB seen (The Sun Daily)
A new move announced for the 2012 Budget to compensate taxpayers for late income tax refund will ensure that the Inland Revenue Board speeds up the reimbursement process, says PwC Malaysia senior executive director Sakaya Johns Rani.
- 6 October: Tablet PCs allow migration of content without diminishing brand (The Edge Malaysia)
In the next four years, Malaysia’s Entertainment & Media (E&M) sector is expected to grow at above the global rate, according to a new study by PwC. E&M players need to continuously stay engaged with its consumers and collaborate with other parties in order to maintain their relevance and market presence, says Marcel Fenez, PwC global leader for entertainment & media.
- 3 October: People, businesses for downturn (The Edge Malaysia)
The Budget 2012 should focus on the possible world economic downturn that will impact Malaysia. PwC Malaysia senior executive director SM Thanneermalai shares his views.
- 26 September: Need for fairer tax treatment of developers (The Edge Malaysia)
The property industry is facing many developments due to changes in the accounting landscape and strict tax regulations. PwC Malaysia senior executive director Steve Chia pinpoints some of the common issues faced by developers and recommends a few alternatives in light of the evolving tax rules affecting the industry.
- 19 September: Embracing GST to boost revenue (The Edge Malaysia)
GST has been getting a lot of press lately, receiving mixed public opinion on tax reform. What can our current tax system tell us about Malaysia, and what needs to change by 2020 in order for us to become a developed nation? PwC Malaysia executive director Raja Kumaran and associate director Nicolaos Giannopoulos study the possibilities and the plus points of introducing a GST in Malaysia.
- 5 September: Getting ready for US Foreign Account Tax Compliance Act (FATCA) (The Edge Malaysia)
The US Foreign Account Tax Compliance Act or FATCA comes into effect on 1 January 2012. Much needs to be done before that, but how prepared are Malaysian public entities? Our Executive Directors Azura Othman and Lorraine Yeoh give some food for thought and tips on how to get FATCA-ready.
- 1 August: Insurance sector still seeing M&A activity (The Edge Malaysia)
PwC Malaysia partner Sridharan Nair and Executive Director Angie Wong speak to The Edge about their thoughts on the local insurance sector. Among their views? Mergers and acquisitions will continue in Malaysia, and local insurers will begin looking to invest overseas.
- 7 June: Holistic cities with balanced economies to dominate (The Edge Malaysia)
In a recent report released by PwC and the Partnership for New York City, it was found that the finance and business centres of the future may not necessarily be the traditional capitals of global dominance. Instead, holistic cities with balanced economies and a strong quality of life are becoming increasingly attractive. What makes a holistic city? Our Executive Director Andrew YH Chan comments.
- June Issue: Being prepared (ACCA Accounting and Business Malaysia)
The massive earthquake and tsunami in Japan highlight how important it is for public and private organisations to have a robust disaster risk management plan in place. PwC Malaysia Senior Executive Director Ong Ai Lin shares her views.
- May Issue: Heading for the clouds (ACCA Accounting and Business Malaysia)
One of the major concerns of today’s CFOs from an IT perspective, is how to maximise the use of emerging technology such as social networking and cloud computing to drive their businesses, says Shahrin Ismail, executive director of PwC Advisory Services, Malaysia.
- 4 April: Survival of the fittest (The Edge Malaysia)
Smaller banks will need to rebrand and re-engineer themselves to stay competitive in the new banking landscape, says PwC Malaysia partner, Soo Hoo Khoon Yean.
- 4 March: CEOs must recognise, develop talents (The Malaysian Reserve)
CEOs must recognise and develop talents so that a skilled workforce can sustain their companies, said Minister in the Prime Minister's Department, Datuk Seri Idris Jala at a dialogue hosted by PwC based on the key findings of PwC's 14th Annual Global CEO Survey.
- 4 March: Malaysia set to meet investment targets (Business Times)
The Government is confident it can achieve its investment targets this year under the Economic Transformation Programme (ETP), said Minister in the Prime Minister's Department Senator Datuk Seri Idris Jala at PwC's "What future are you preparing for" dialogue. The dialogue is based on the key findings of PwC's 14th Annual Global CEO Survey.
- 4 March: Unleashing talent is job for chief executives (The Edge Financial Daily)
CEOs need to take the lead in unleashing talent in order for Malaysia to achieve a developed nation status, said Minister in the Prime Minister's Department, Datuk Seri Idris Jala during PwC's "What future are you preparing for" dialogue. The dialogue discussed the shared agenda between the private and public sectors as a critical growth factor, and other key findings of PwC's 14th Annual Global CEO Survey.
- 27 January: PricewaterhouseCoopers is now PwC (The Edge)
After 13 years of being known — internally and externally — as PwC, the global professional services firm has finally decided to embrace its nickname officially with a logo change.
- 27 January: CEOs in Asia Pacific more upbeat on growth: PwC Survey (Business Times)
According to PricewaterhouseCoopers’ 14th Annual Global CEO survey, chief executive officers in Asia Pacific are more confident of growth in the next 12 months compared to their counterparts in Western Europe.
- 3 January: Changing the horizon of lease accounting (The Edge Financial Daily)
A global leasing standard is being proposed in line with the global International Financial Reporting Standards (IFRS) convergence process, and is expected to have critical business impacts to every entity that has lease arrangements.