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   >   Growing Stage

Growing Stage

 

Tom now has established his own company. However, managing a company alone can be difficult for Tom doing it alone. Tom can find trouble dealing with various questions. For example, issues of tax, shareholders, unclear information flow, fundraising, certifications and reward scheme.

Cheng & Co can provide professional assistance to resolve these issues for Tom.

Growing stage

After running the new business for a while, companies at a growing stage face other challenges beside growing.  Some observations we have gathered over the last 25 years for growing companies are as below:

 

  • Paying too little or too many taxes
  • Not know or aware of what tax and grant incentives to apply locally and for their international expansion (Singapore got a lot of grant – link)
  • More Shareholders to assist on expansion which may also lead to disputes
  • Unable to obtain real-time information (account and data) to make a corporate decision
  • Insufficient fund to grow further
  • Certifications (ISO, Halal, HACCP, Industry 4.0 certification)
  • Performance reward scheme did not align with the business objective

 

How can we help?

At Cheng & Co, we strive to help our clients to solve the  above problems through the services as below:

  • Tax advisory:
    • Apply tax strategies aligned with business strategies to achieve business objective and tax efficiency
    • Apply tax incentives to achieve the best tax position for the Company
    • International tax advisory for international business expansion

 

  • Shareholding restructuring:
    • To design and implement the best shareholding structure and align with strategic business objective.
    • Real-time accounting and cloud solution <Link to cloud solution>
    • The current business world is changing rapidly. A business decision must be made timely. Without real-time accounting data, the improper business decision is costly to the business such as expansion without proper cash flow planning or managing cash flow during a pandemic or economic downturn.
    • Cheng & Co will advise the suitable cloud solution to the business.
    • Cheng & Co also provide accounting and payroll outsourcing in a cloud solution to assist businessman to achieve cost-effectiveness.

 

  • Consulting on Fund-raising options and structure and Valuation:
    • We have assisted the client by providing advisory for their Fundraising through the specially designed scheme such as preference share (ir/redeemable, Non/ convertible, interest, dividend)
    • Advise and connect our customer to the suitable and legal fund-raising platforms such as Pitchin, Mystartr or Funding Societies.

 

  • Certifications:
    • ISO, Halal, trademark and other relevant certification definitely can add value to the business and enhance competitive advantage
    • We will assist to apply the relevant certification and advise on the compliance
    • Design appropriate performance rewards scheme <Link to consultancy>
    • Sometime the Company might pay too much bonus, but the Company doesn’t earn much based current performance reward scheme. It is due to the performance reward scheme is not aligned with the business objective
    • We will understand, study and design appropriate performance reward scheme to the business.

Shareholder Dispute

It is very common for a company in Malaysia to remain ideal for years. One of the main reason is only 2 shareholders and directors in the company. Any meeting needs to have a minimum of two persons. In a company with 2 shareholders and directors, no meetings can be held if only one attend.

Held in Trust

Companies in Malaysia overplan and pay very little in taxes. Many business owners worry later when they plan to purchase properties or fixed assets as the tax authorities may be alerted. We have successfully advise clients on their tax planning for themselves and their companies using offshore structures and efficient expenses advisory. Clients have a piece of mind in cash purchases of assets.

Paying too little Taxes

Companies in Malaysia overplan and pay very little in taxes. Many business owners worry later when they plan to purchase properties or fixed assets as the tax authorities may be alerted. We have successfully advise clients on their tax planning for themselves and their companies using offshore structures and efficient expenses advisory. Clients have a piece of mind in cash purchases of assets.

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