API FORUM (21 st March 2013) MIDA

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1 API FORUM (21 st March 2013) MIDA 1

2 About MIDA Oil & Gas Industry in Malaysia Business & Investment Opportunities Incentives for Investment Domestic Investment Strategic Fund 2

3 First point of contact for investors who intend to set up projects in the manufacturing and services sectors in Malaysia Government's principal agency for the promotion of the manufacturing and services sectors in Malaysia Assists companies which intend to invest in the manufacturing and services sectors, as well as facilitates the implementation of their projects Provides information on the opportunities for investments, as well as facilitating companies which are looking for joint venture partners Evaluates the applications for projects in the manufacturing and its related services sectors (Manufacturing Licence, tax incentive, expatriate post, import duty & sales tax exemption MIDA 1988 Centre of Investment 2004 Extend to Services sector Empowerment FIDA 1978 One Stop Agency FIDA 3

4 PROMOTION Foreign Direct Investment Domestic Investment Business matching through E- Connect Manufacturing & Services EVALUATION Manufacturing licenses Tax incentives Expatriate posts Duty exemption Regional establishment status PLANNING Planning for industrial development Recommend policies and strategies on industrial promotion and development Formulation of strategies, programmes and initiatives for international economic cooperation FOLLOW UP & MONITORING Assist companies in the implementation and operation of their projects Facilitate exchange & coordination among institutions engaged in or connected with industrial development Advisory Services 4

5 UPSTREAM Exploration, Development & Production CRUDE OIL NATURAL GAS MIDSTREAM Refining Processing Liquefaction Petroleum Products Petrochemical Plant LNG DOWNSTREAM LPG Regassification Terminal PGU System 5

6 EXPLORATION Environmental & Positional Survey Geological & Reservoir Geophysical Services DEVELOPMENT Engineering Design Drilling Pipeline Construction Facilities Construction Fabrication / Manufacturing PRODUCTION Marine Operations Offshore Operations Refineries / Gas Processing Petrochemical Plants SUPPORTING Repairs & Maintenance Health, Safety & Environment and Security Tank Terminal Supply Base Underwater Services 6

7 Enhanced oil recovery activities Development of marginal / mature fields Development of high carbon dioxide gas / deepwater / high pressure high temperature fields Repairs, maintenance and overhaul activities Infrastructure projects for petroleum operations (e.g. supply base, terminals) 7

8 MANUFACTURING SERVICES UPSTREAM - Exploration, development & production of oil & gas MIDSTREAM Crude oil refinery, gas processing & liquefaction DOWNSTREAM - Petrochemicals plant & regassification terminal Chemicals Containers Drilling equipment & materials Electrical, instrumentation & mechanical Insulations Linepipes Marine Vessel Risers / flowlines Safety & protection system Structural Subsea Valves Structural maintenance Engineering, repairs and maintenance Engineering design Environmental & positional survey Geological & reservoir Health, safety, environment & security Marine support Offshore facilities Pipeline services Production, drilling & workover services Tank / tank farms Underwater services 8

9 PIONEER STATUS Income tax exemption of % for a period of 5-10 years INVESTMENT TAX ALLOWANCE % on qualifying capital expenditure incurred within 5-10 years can be offset against % of the statutory income IMPORT DUTY & SALES TAX EXEMPTION Full exemption from import duty / sales tax on raw materials/components and machinery & equipment REINVESTMENT ALLOWANCE 60% on the qualifying capital expenditure incurred for the reinvestment can be offset against 70% of the statutory income 9

10 In July YAB PM announced five initiatives to promote direct domestic investment: Domestic Investment Strategic Fund Incentives for Acquiring a Foreign Company for High Technology Incentives for Small Scale Companies Incentives for Companies in Production (Desirous Issue) Incentives for Merger Among Malaysian Services Providers 10

11 RM1 billion The fund aims to: Harness and leverage on outsourcing opportunities created by MNCs operating in Malaysia To accelerate the shift of Malaysia-owned companies in targeted industries to high value-added, high technology, knowledgeintensive and innovation-based industries Intensify technology acquisition by Malaysian-owned companies Enable Malaysian-owned companies to obtain international standards/certifications in strategic industries 11

12 Training of Malaysians Modernisation and upgrading of facilities and tools MATCHING GRANT (1:1) R&D activities carried out in Malaysia Licensing or purchase of new / high technology Obtaining international standards / certification 12

13 MECHANISM The fund does not offer an outright grant and is contingent on the investments of the applicants Matching grants (1:1) on reimbursable basis To be granted on a negotiable basis based on the request of the companies and the merits of each case Provided under the Customised Incentive Scheme, Section 127, Income Tax Act

14 ELIGIBILITY CRITERIA Incorporated under the Companies Act, 1965 New and existing companies in the manufacturing and services sectors with Malaysian equity ownership of at least 60% Companies producing promoted products / engaged in promoted activities in the following priority sectors Aerospace Medical Devices Pharmaceuticals Advanced Electronics Machinery & Equipment Renewable Energy Services Others (on case by case basis) 14

15 Effective Date of Application Application received on or after 3 rd July 2012 are eligible to be considered for this incentive Submission The application shall be submitted to the relevant Division in MIDA (based on products / services undertaken by the company). 15

16 Tel: (603) Fax: (603) Website: 16

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