APPLICATION FORM FOR APPROVED DEVELOPER
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1 App-AD Rev APPLICATION FO FOR APPROVED DEVELOPER
2 GUIDELINES FOR APPLICATION FOR APPROVED DEVELOPERS 1) The applicant must be a newly incorporated company under the Companies Act 1965 or if not newly incorporated, the applicant company must not have commenced any activities since its incorporation date. 2) The applicant company must not have applied for/obtained any other tax incentives in Malaysia. 3) The applicant company must have acquired a right or rights over part or the whole of land (the said rights) in the approved node within Iskandar Malaysia (the land) to undertake development therein in accordance with the Master Plan as approved by the Relevant Authorities and Node Master Plan for the approved node (Medini, formerly known as Node 1). 4) The applicant company will be required to submit two copies of the Development Concept Plan Proposal as well as provide details of the key aspects of this in Question 4(a) of the Application Form. 5) Approved Developers: a) These companies will not be allowed to carry out any business activities in Malaysia outside of the approved node b) These companies will be required to obtain an annual certification from the approved node project development company for Medini (the said entity is Medini Iskandar Malaysia Sdn Bhd (formerly known as Rim City Sdn Bhd)). This will entail the submission of various documents including a statutory declaration. The annual certification is required to substantiate compliance with the Conditions of Approval and to enable these companies to enjoy income tax exemption pursuant to the Income Tax (Exemption) (No.19) Order ) All applicant companies will be notified by IRDA of the outcome of their application. Successful applicants will receive a letter of approval enclosing the Conditions of Approval which the applicants will be subject to in order to enjoy both the fiscal and non-fiscal incentives under the Incentive & Support Package granted to Approved Developers. 7) Successful applicant companies will need to be tax resident in Malaysia as defined in the Income Tax Act 1967 in order to enjoy the tax incentives available to Approved Developers. To qualify as tax residents, the control and management of the business or affairs of the companies must be exercised in Malaysia. This can be demonstrated by the holding of at least one board of directors meetings in Malaysia in a financial year.
3 8) In the course of IRDA s monitoring process of the activities of approved companies in Iskandar Malaysia, IRDA will, from time to time, undertake a review process to ensure compliance with the Conditions of Approval and may, in this connection, request for relevant information from the Approved Developers. Upon any such request made by IRDA, the Company shall provide the relevant information requested. 9) Effective 1 Jan 2011, IRDA charges a nominal fee of 2, for each Approved Developer application. The payment can be made via cheque, addressed to ISKANDAR REGIONAL DEVELOPMENT AUTHORITY. 10) Effective 14 Apr 2011, the applying company must have a minimum paid up capital of 250, at the point of application and this must be reflected by the relevant SSM forms. 11) IRDA may from time to time review and amend the above guidelines. The applicant is advised to consult the Incentives Unit, Iskandar Regional Development Authority (IRDA) at tel: or prior to making a full submission of the application.
4 APPLICATION FO FOR APPROVED DEVELOPER 1. Company Profile (a) Name of company: (b) (c) Company Registration Number: Incorporation Date: (DD/MM/YYYY) Click here to enter a date. (d) Registered address: (e) Business address: (in approved node) (f) Key Contact Person: (g) Contact Number: - ext (h) Fax Number: - (i) Address: 2. Corporate Structure (a) Ownership structure: Name of shareholder and Nationality Equity (%) Country of incorporation (organization) / residency (individual) 1
5 (b) Total Bumiputera ownership (%): (c) Ultimate holding company: - Name - Country of incorporation (d) Total authorised share capital (): (e) Total paid-up capital(): (f) Details of directors: Name Nationality (g) Details of top management (please attach resumes of key management personnel): Name Nationality Designation 3. Company Status a) The company has not applied for/ obtained any other Malaysian Government incentives (fiscal / non-fiscal incentives)? Please tick applicable boxes Yes No b) The company is newly incorporated and/or has not commenced any operations since its incorporation Yes No 2
6 4. Proposed Development Details (a) Details of proposed development in Medini (approved node) highlighting key aspects of proposed development, as per the Development Conceptual Plan & Proposal (You may wish to attach the layout / building plans as separate documents to support the description of the project) (b) Details / particulars of the land: Land lease title no. Lease registration details (presentation number, date, etc.) Lease title owner Location of land ( Mukim or part of the district) Size (acreage) (c) Estimated investments (for the first 5 years) () Fixed Assets Year 1 Year 2 Year 3 Year 4 Year 5 Land* Building* Plant & Machinery Other Equipment Total Investment * For land/building, please indicate area size in m² 3
7 (d) (e) Estimated total Gross Development Value and Gross Development Cost for the proposed development area (): GDV GDC Estimated future revenues generated from the disposal of part or whole of the land within the approved node : Year 1 Year 2 Year 3 Year 4 Year 5 (f) Estimated tax on profits from the disposal of part or whole of the land (per (e) above) within the approved node (): (this figure represents corporate tax that would be payable in the absence of the tax incentive) (g) Estimated withholding tax to be paid to Government ( in ) (this figure represents withholding tax that would be payable in the absence of the tax incentive) 5. Financing Structure (for the first 5 years) () Ordinary share capital Preference share capital Borrowings: - Domestic - Foreign (specify country of origin) Year 1 Year 2 Year 3 Year 4 Year 5 Total estimated investment cost 6. Project Impact Summary of potential benefits to Iskandar/Malaysia: 4
8 (a) Development impact: (i) Infrastructure (e.g. extend rural electricity coverage, etc.) (ii) Positive environmental impact (iii) Others (b) Human capacity building: (i) Creation of new employment for Malaysians (at the end of 3 rd year of operations) Management staff Technical & Supervisory staff Non-technical & Administrative staff Malaysians Foreigners (ii) Capacity building (e.g. skills training programme, transfer of knowledge, etc.) (iii) Others (e.g. applicant s corporate social responsibility, etc.) (c) Please complete and attach together with this form the Cost Benefit Analysis Template for ISP v2. 5
9 Acknowledgement i. The applicant hereby confirms that the Application Form has been prepared based on the best available information and knowledge and that no material fact or information has been concealed or omitted in this Application Form. ii. iii. iv. The applicant shall indemnify and hold harmless IRDA, as well as its officers, employees and agents, against all claims, damages, loss and expense, in relation to or arising out of breach of paragraph (i) above. The applicant understands that the detailed content of the development proposal and application form will be treated with strict confidence. Nonetheless, the applicant hereby consents to any disclosure IRDA might make of the content of this application and development proposal, or any information on the company to relevant Government bodies or any government-appointed bodies, firms, or consultants acting in a professional capacity for and on behalf of IRDA. The applicant understands that IRDA reserves the right to revoke the approval granted to the applicant as an Approved Developer should the applicant fail to adhere to the terms and conditions stipulated in the Conditions of Approval. Signature: Name: Position: Date: Company stamp Upon completion, please submit to the following address: Iskandar Service Centre Suite th Floor Block 3B Plaza Sentral KUALA LUMPUR Malaysia Tel: Fax: enquiries@irda.com.my For further enquiries, please call the Iskandar Service Centre Call Centre:
10 APPROVED DEVELOPER SUBMISSION CHECKLIST Please prepare two (2) sets and kindly submit the following items together with this application form: For IRDA internal use (tick to indicate document has been sighted and details therein are consistent with the information provided in this application form) Form 9 - Companies Act, 1965 (Certificate of Incorporation of Private Company) Form 24 - Companies Act, Relevant forms reflecting minimum paid up capital of 250, Form 44 - Companies Act, 1965 (Notice of Situation of Registered Office) Form 49 - Companies Act, 1965 (Particulars of Directors, Managers and Secretaries) and resumes of key management staff Memorandum and Articles of Association Most recent company Board Meeting minutes indicating venue of Board meeting, if available Certified true copy of Land Lease Title(s)* Certified true copy of Sales & Purchase / Lease Agreement indicating parcel(s) of land(s) in approved node intended for development Proof of payment (partial or full payment) for the purchase consideration as stipulated in the Sales & Purchase agreement Project Physical Development Conceptual Plan & Proposal Masterplan for the development area as stipulated in the Land Lease Title and/or Sales & Purchase agreement Application fee of 2, via cheque (* Either in applicant company s name, or in the name of the current registered owner/lessor, if the lease transaction has not been completed at the time of application) 7
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