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Malaysia
Malaysia Geography, Economy, and Culture
Malaysia is a country in South-East Asia bordering Thailand and Singapore, with its capital at Kuala Lumpur and a population of approximately 31 million people. A member of the Commonwealth Nations, Malaysia also has a strong economic record in the region with an increasing GDP for the past 50 years, focused primarily in the areas of natural resources, science, tourism, commerce, and medical tourism. It has a highly diverse ecosystem and is estimated to contain 20% of the world’s animal species, including unique ones such as the Malayan tiger, the proboscis monkey, and oriental hornbill birds.
Famous for being a multi-ethnic country, Malaysia is represented by the ethnic Malay with large minorities of Malaysian Chinese and Indians. Although Malaysians speak several languages including English, Chinese, and Tamil, Bahasa Malaysia is the official language. Major religions include Islam, Buddhism, Christianity, Hinduism, Confucianism, and Taoism.
| 2021 | |
| May 1 | Labour Day |
| May 13 | Hari Raya Puasa |
| May 14 | Hari Raya Puasa Day 2 |
| May 26 | Wesak Day |
| June 7 | The Yang di-Pertuan Agong’s Birthday |
| July 20 | Hari Raya Haji |
| August 10 | Muharram/New Year |
| August 31 | Malaysia’s National Day |
| September 16 | Malaysia Day |
| October 19 | The Prophet Muhammad’s Birthday |
| December 25 | Christmas Day |
- PLT (Perkongsian Liabiliti Terhad)
- Bhd. (Berhad)
- Sdn. Bhd. (Sendirian Berhad)
- Corporate Tax: 18% (lowest rate), 24% (highest rate)
- Income Tax (Lowest Marginal Rate): 0%
- Income Tax (Highest Marginal Rate): 28% + 11% for EPF + 1.2% for SOCSO
- VAT/GST/Sales Tax: 10% (standard rate for goods), 7% (services), 5% (reduced rate for goods)
- Affin Bank Berhad (Commercial Bank)
- Alliance Bank Malaysia Berhad (Commercial Bank)
- AmBank (M) Berhad (Commercial Bank)
- CIMB Bank Berhad (Commercial Bank)
- Hong Leong Bank Berhad (Commercial Bank)
- Malayan Banking Berhad (Commercial Bank)
- Public Bank Berhad (Commercial Bank)
- RHB Bank Berhad (Commercial Bank)
- Affin Bank (State Bank)
- Agro Bank (State Bank)
- Alliance Bank Malaysia Berhad (State Bank)
- AmBank (State Bank)
- Bank Islam Malaysia (State Bank)
- Bank Muamalat Malaysia (State Bank)
- Bank Rakyat (State Bank)
- Bank Simpanan Nasional (BSN) (State Bank)
- CIMB Bank Berhad (State Bank)
- Hong Leong Bank (State Bank)
- Malayan Banking Berhad (Maybank) (State Bank)
- Public Bank (State Bank)
- RHB Bank (State Bank)
- BNP Paribas Malaysia Berhad (Foreign Bank)
- Bangkok Bank Berhad (Foreign Bank)
- Bank of America Malaysia Berhad (Foreign Bank)
- Bank of China (Malaysia) Berhad (Foreign Bank)
- Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad (Foreign Bank)
- China Construction Bank (Malaysia) Berhad (Foreign Bank)
- Citibank Berhad (Foreign Bank)
- Deutsche Bank (Malaysia) Berhad (Foreign Bank)
- HSBC Bank Malaysia Berhad (Foreign Bank)
- India International Bank (Malaysia) Berhad (Foreign Bank)
- Industrial and Commercial Bank of China (Malaysia) Berhad (Foreign Bank)
- J.P. Morgan Chase Bank Berhad (Foreign Bank)
- Mizuho Bank (Malaysia) Berhad (Foreign Bank)
- National Bank of Abu Dhabi Malaysia Berhad (Foreign Bank)
- OCBC Bank (Malaysia) Berhad (Foreign Bank)
- Standard Chartered Bank Malaysia Berhad (Foreign Bank)
- Sumitomo Mitsui Banking Corporation Malaysia Berhad (Foreign Bank)
- The Bank of Nova Scotia Berhad (Foreign Bank)
- The Royal Bank of Scotland Berhad (Left Malaysia) (Foreign Bank)
- United Overseas Bank (Malaysia) Bhd. (Foreign Bank)
Aadmi can support you with your expansion to Malaysia. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns. Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.
Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.
