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Labour Market, Job Reintegration, Regulation of Labour, Setting Up a Business, Bank- and Credit-System
If you are looking for an opportunity to join a dynamic and fast growing Dot. Com / internet company, one of the biggest internet trade Information and E-commerce companies is offering a supportive, challenging, growth oriented environment with a comprehensive benefits package to a team of young and ambitious Malaysians.
These are positions as follows:
Your resume is your first impression on a prospective employer. Though you may be articulate, intelligent, and charming in person, a poor resume may prevent you from ever having the opportunity to demonstrate your interpersonal skills, because a poor resume may prevent you from ever being called for an interview. While few people have even been hired solely on the basis of their resume, a well written, well organized resume can go a long way toward helping you land an interview.
The elements of a good resume include the heading, objective, work experience, education, honors, activities, certificates and licenses, professional memberships special skills, personal information and references.
The heading should be placed at the top of the resume and should include your name, home address, and telephone numbers. If you have a school address and a permanent home address, include both.
It is important to list a job objective on your resume to help employers know the direction you are heading. The objective is usually one sentence that describe your employment goals clearly and concisely.
This section will provide the central focus of your resumes, so it should be as complete as possible. You will want to include all necessary information about each of your jobs, including job title, dates, employer, duty, state, responsibilities, special projects, and accomplishments. The most common way to list your work experience is in reverse chronological order. Start with the most recent position and work your way backwards.
Your educational background is often a deciding factor in an employers decision to hire you, so be sure to stress your accomplishments in school. You will be sure to include any degrees or certificates you received, your major area of concentration, any honors, and any relevant activities. Again, list your most recent schooling first. If you have completed graduate level work, begin with that and work in reverse chronological order through your undergraduate degree. You may choose whether to list your high school experience or not. This should be done only if your high school grade point average was well above average.
Here you list any awards, honors, or memberships in honorary societies that you have received. Usually these are on an academic nature, but they can also be for special achievements in sports, clubs, or other school activities. Always be sure to include the name of the organization honoring you and the date(s) received.
Often an employer will consider involvement in campus or community activities as evidence of initiatives and dedication: therefore, list any organization or clubs you have been a part of, emphasizing any leadership roles you have had.
You should list any current licenses or certificates you hold if the job you are seeking requires them. If you have applied for a license, but have not yet received it, use the phrase, application pending.
Use this section to list involvement in professional associations, unions, and similar organizations, especially any professional memberships that pertain to the job you are seeking. Be sure to include the dates of your involvement and whether you took part in any special activities or held any offices within the organization.
This section of your resume set aside for mentioning any special abilities that you have that could relate to the jobs you are seeking .This is the part of your resume where you have the opportunities to demonstrate certain talents and experiences that are not necessarily a part of your educational or work experience. Ex. Fluency in a foreign language, knowledge of a particular computer application , etc.
Some people include personal information on their resumes. This practice is not generally recommended, but you might wish to include it if you think that something in your personal life, such as a hobby or talent.
The objective of the department is to create a conducive labor relations environment to enhance the industrial and economic growth of the country.
You need to take your Birth Certificate, Identity Cards along with the Certificates for the job you want apply. SPM, or SVPM are considered the acknowledge exams. The employment placement services provided to both job seekers and employers are free of charge.
In 1998, the number of job seekers registered with the Department of Manpower were 110,868. However, the number registrants that were still actually seeking for jobs by the end of December 1998 were 30,576. The number of registrants who were successfully placed during 1998 was 20,992. A total of 61,582 vacancies were repeated to the Department of Manpower in 1998.
The Professional Employment Bureau of the Employment Services Division provides employment services to professionals.
Advertisements are always present in the newspaper for both the private and public jobs in both sectors, any Malaysians can apply for the post he seeks through any labor exchange.
The Employment Service Division has a total of 49 offices throughout Malaysia, 33 of which are based in peninsular Malaysia and eight offices each in Sabah and Sarawak. The state and district level Manpower Department Offices act as important intermediaries in the respective labor market area they serve. These offices provide services in matching jobs opportunities with suitable job seekers so as to enhance the utilization of manpower resource in the country. The employment placement services provided to both job seekers and employers are free of charge. The state and districts level offices also carry out career counseling activities in schools as well as monitoring the local labor market.
The Department of Manpower also provides vocational guidance and assistants to students, school leavers and job seekers to enable them to select occupational which are commensurate with their respective qualification, interests, abilities and inclinations and in line with the manpower needs of the country. The department publishes job guides, which contain information on describing of jobs available in Malaysia. The Department also participation in educational and skill exhibitions organized by the Government and the private sector.
The Bulletin is a quarterly analysis includes the number of the job seekers newly registered with the Department of Manpower, the total number of active registrants and the biodata of registrants such as academic qualification, training, age, sex, work experience and employment status. The number of vacancies reported to the Department of Manpower and occupational group, state and industry also analyze the placements affected.
Reference: Malaysia 2002 year book
A contract of service is an agreement whereby a person agrees to employ another as an employee and the employee agrees to serve his employer as an employee. A contract of service can be either oral or in writing, express or implied. However there are certain contracts of service that must be in writing. They are any contract of service for a specified period of time exceeding one month or for a specified period of time exceeding one month or for a specified piece of work where the time required for the completion of the work may exceed one month.
An apprenticeship contract entered into by a person with an employer who undertakes to employ the person and train him for a period which is not less than two years.
An employment contract must have the following conditions:
Term in the contract of service cannot be less favorable than those prescribed under the provision of the employment Act. A contract of service must not restrict the right of an employee to join , participate in the activities or in the organizing of a trade union.
Every contract of services must contain a written term stipulating the length of notice required for the termination of the contract. If the contract of service does not specify the period of notice , the notice shall be as follows:
An employee may terminate his contract of service without notice if her or his dependants are immediately threatened by violence or disease which the employees did not under take to run under his contract of service.
Procedure for termination for misconduct
An employer may terminate the services of an employee after he has conducted an inquiry into the alleged misconduct. For the purpose of holding an inquiry the employer may suspend the employee from work for period not exceeding 2 weeks. During the period of suspension, an employee shall be paid not less than half his wages. If after the inquiry the misconduct of an employee cannot be proved then the employee shall be paid full wages for the period he was suspended.
Hours of work means the time during which an employee is at the disposal of the employer and is not free to disposal of his own time and movements. Normal hours of work means the hours of work as agreed between an employer and an employee in the contract of service to be usual hours of work per day. The normal hours of work should not exceed the limits specified.
Day means a continuos period of 24 hours beginning at midnight.
An employee shall not to be required under his contract of service to work:
Overtime work
Overtime work means the number of hours of work carried out in excess of the normal hours of work. The general rule is that an employee cannot be compelled to work overtime. However an employee may be required by his employer to work overtime in some circumstances. An employee who works overtime or his working days has to paid a rate which is not less than 1 ½ times the normal rate of pay.
The National Labour Advisory Council (NLAC) has agreed on the need to draw up a set of guideline on Wage Reform System which would be in the immediate and long term interests of employees in the unionized and non unionized sectors, employers and the nation.
The purpose of these guidelines are:
Fixed components
Salary based on degrees and position
Usually a degree holder gets about RM 1,600 to RM 4000. The amount is decided on the position he/she holds.
Individuals who are residents in Malaysia are considered for taxation. Individuals who do not stay in Malaysia permanently but earn in Malaysia are considered for taxation. The status of the person who stays in Malaysia for a year or more or if the person stays for than 182 days a year is considered to pay tax in Malaysia.
Modes of income that need to pay taxes
Information leading to income tax
Taxable Incomes:
| Over column 1 (RM) | Not over (RM) | Tax coulmn1 (RM) | Percentage on excess (%) |
| 0 | 2,500 | - | 0 |
| 2,500 | 5,000 | - | 1 |
| 5,000 | 10,000 | 25 | 3 |
| 10,000 | 20,000 | 175 | 5 |
| 20,000 | 35,000 | 675 | 9 |
| 35,000 | 50,000 | 2,025 | 15 |
| 50,000 | 70,000 | 4,275 | 20 |
| 70,000 | 100,000 | 8,271 | 25 |
| 100,000 | 150,000 | 15,775 | 28 |
| 150,000 | above | 29,775 | 29 |
| Self | RM 8,000 |
| Self (Disabled) | RM 10,000 |
| Wife | RM 3,000 |
| Wife (Disabled) | RM 5,500 |
| Child relief | RM 800 |
| Physically disabled | RM 5,000 |
| Life insurance | RM 5,000 |
| Medical Expenses | RM 5,000 |
Every employee shall be entitled to paid holiday at his ordinary rate of pay on the following days in any one calendar year.
On ten of the gazetted public holidays for of which shall be:
Wage incentives is paid when profits have exceeded a pre determined or threshold level which carefully calculated based on return on investment, return on assets, return on equity and the average of pay earned over a number of years in the past.
References:
Ministry of Human Resources Malaysia, http://www.mohr.gov.my
Inland Revenue Board, http://www.hasilnet.org.my
Malaysia Yellow Pages,
http://www.malaysiayellowpages.com
Business is an activity to provide goods or services at a profit. Every business carried on for this purpose such as trade, commerce, craftsmanship, profession must be registered. A business main aim may not be making profit but this is certainly the difference between a business organization and a non- business organization.
In Malaysia, a business may be carried on in any one of the following forms:
Sole proprietorship
The business of a sole proprietorship is owned by one person only and is the simplest form of business organization. However, it need not be a one-person-business. They can have large numbers of employees.
Partnership
A partnership exists when at least 2 or more people pool their capital and work together. The partners share the risk. As with the sole proprietorship the partners are owners of its property and are fully responsible for making the partnership’s debts.
Company
When a company is formed, it has become incorporated under the companies act, 1965. The company formed is treated as a separate, independent of its members. There are twocommon types of companies limited by shares. Public limited companies and private limited companies cannot sell shares to the general public. The name of private limited company ends with the word Sendirian Berhad or abbreviation Sdn. Bhd. Public limited companies raise capital by selling shares and are run by a board of directors elected by shareholders. They show their status by using abbreviation Bhd. or the word Berhad after their name.
Business name refers to style or title as an identification of a business. Business name can be categorized into two types:
Business trade name can only be registered after obtaining approval. An example for a business name is the following:
ABC Enterprise.
Perniagaan Muhibah Sentosa
A business using personal name of the owner does not need approval for registration. Example:
Ali bin Ahmad
Chan Seng Chow
P.Ramasamy
Whereby they are the owner of business.
How to apply for a business name
The applicant has to fill the form provided by the Registry of Business. A complete form can be submitted to Registry of Business office through counter or by post.
Names that shall not be registered as a business name
The owner of the business must inform the Registrar Of Business any changes which occur in the business. The form used are as follows:
Form B must be completed as specified, Ball Point Pen must be used when filling Form A. Completed forms may be submitted to the Registrar of Business office counter through mail. When changes occur in the business which is still being carried on, either changes in address, type of business, changes in particulars of the branch and changes in the particulars of the partner. The changes must be made known to the registrar of business immediately.
Registration fees
Registration fee for Form B per submission is RM 5.00 on an additional RM 1.00 each branch. A copy of information regarding a Registered business is RM 5.00
Registration form such as Form A could be obtained at the counter of the Registry of Business or applied through mail. Form A must be completed as specified Ball Point Pen must be used when filling Form A. Completed form may be submitted to the Register of Business office counter or through mail. A copy of the owner, National Registration Identification Card (NRIC) should be submitted together within Form A.
Condition of registration
Business owner must be a Malaysian citizen or a permanent resident. The business must be registered immediately upon commencement.
Registration fees
Business Council of Malaysia
Unit 15-01, Level 15 Amoda
22 Jalan Imbi
55100 Kuala Lumpur, Malaysia.
Tel (603) 248 2407
The Malaysian Entrepreneurship Development Center (MEDEC) was established within MARA University of Technology (UiTM) in 1975. The mission was to facilitate the growth of Bumiputera entrepreneurs in Malaysia. Specifically, it was set up for the purpose of planning and implementing entrepreneurship Development programs such as training, education, research and consultancy.
Today MEDEC is known as one of the prominent centers for entrepreneurship training and education in the country. In addition, MEDEC is planning to expand its academic programs to include entrepreneurship courses at the postgraduate level. Among the program to be offered are postgraduate Diploma in Technology Entrepreneurship and Masters of Science in Technology Entrepreneurship. The main objective of the programs is to increase the supply of Bumiputera Technopreneurs in the country. Although entrepreneurship training is its core activity, MEDEC has never neglected its primary functions in the related areas of research, education, business advisory and consultancy services.
Malaysian Entrepreneurship Development Center (MEDEC)
Blok 13, Intekma Resort and Convention Center UiTM
Section 7, 40000 Shah Alam, Selangor
Tel; 03-55153275 / 76 / 78 / 80 / 81
Fax: 03-55153284
E-Mail: medec@salam.edu.uitm.my,
info@medec.com.my
Website: http://www.medec.com.my
As of late 1997, the banking sector included 35 commercial banks, 39 finance companies, 13 merchant banks and 7 discount houses. Bank of America, Citibank, and Chase Manhattan have operation here. Exports to Malaysia may be financier through letter of credit issued to importers by banks in Malaysia. Finance is readily available on the domestic market to Malaysian importers. There are no foreign exchange controls which would impede trade. All payments to non-residents for any purpose are freely permitted, subject only to the completion of a simple form for remittances of more than RM 10,000 (US$ 25,000). No permission is required from the controller of the currency for a company to maintain inter company accounts with associate companies, branches, or other companies outside Malaysia.
In the past, major infrastructure projects have been funded by a variety of means, including Malaysian governments funds, the domestic capital markets, banks and investment funds like the Employee Provident Fund, international consortia and supplier credits.For decades, Malaysia had followed prudent macroeconomics policies, focusing on low inflation, strong external reserves, and current account supplies. Malaysia’s main laws governing financial institution are administered by the Central Bank, the Bank Negara Malaysia established in 1959. Bank Negara supervisors the nation's banking system, which includes commercial banks, finance companies, merchant banks and discount houses.
Until 1989, banking institutions were governed by the Finance companies act 1969, the banking Act of 1973, the Essential (Protection of Deposits) Regulation of 1986, and the Finance (Banking and Finance Institution) Act of 1986. The Banking and Financial Institution Act, adopted in October 1989, includes the main features of all of these laws. Finally, Bank Negara controls the availability and allocation of credit and deposit by setting the borrowing rates for commercial banks.
Other regulatory agencies include the Registrar of Companies and Malaysian Securities Commission (SC). The former supervisors private debt securities and shares responsibilities for regulating stock exchanges: the SC has assumed, since 1993, the main regulatory responsibility for the securities industries and also supervises the Kuala Lumpur Futures Market (KLFM) and the Kuala Lumpur Options and Financial regulation was done by a number of government bodies, which resulted in inconsistent rulings.
Commercial banks are permitted to engage in foreign exchange transactions, both lending in foreign currency and accepting foreign currency accounts from nonresidents. The banks may not borrow ringgit from non residents without approval from the central bank. Central bank permission is also required for non-resident to borrow locally in excess of 10 million ringgit and for resident to borrow overseas in excess of 5 million ringgit.
There are 40 finance companies in Malaysia, 36 of which are domestic firms. Seven of these have some foreign participation. Finance companies specialize in small loans for consumer and housing finance and have a significant market presence in the auto finance sector. Since the 1987 financial sector reforms finance companies have been permitted to diversify into the interbank market. Regulation on risk diversification limit banks from lending more than 30 % of capital to any single customer. Extending loans to bank directors and staff is prohibited. Banks cannot acquire shares without Bank Negara approval.
Business structures: Approximately 415,300 local companies and about 3,650 foreign companies are registered, divided into public (Bhd) or private (Sdn. Bhd.)companies limited by shares and /or guarantees, unlimited companies, sole proprietorship, partnership and foreign companies.
Due to poor citizen record system and the absence of any repository of credits information, it is necessary to conduct special investigations to gather information on individuals.
Standard terms are usually thirty, sixty or ninety days. Payments are made by cash, check, letter of credit, wire transfer, document against payments and document against acceptances.
There are many one stop business center with serviced office suites & full business support facilities e.g. company incorporated, answering service, accounting, audit/tax matters consultancy etc. in Malaysia. One can look for such an option in the internet and also in the Malaysia Yellow pages.
References:
Owns OnLine,
http://www.foreigncreditreports.com
Delegation of the European Commission to Thailand, Cambodia, Laos, Malaysia and Burma/Myanmar,
http://www.deltha.cec.eu.int
Business in Malaysia,
http://www.business-in-malaysia.net
Awesome life: Free Business & Self-Improvement Resources,
http://www.awesomelife.com
Malaysia Search Engine: Newmalaysia,
http://www.newmalaysia.com
In Malaysia, commercial banks form the largest and most important group of financial institutions. There are in total of 33 commercial banks (December 1999). Together with the Central Bank, they ensure the smooth operation and development of the payments system in the country. Commercial banks also intermediate between savers and investors in the economy, providing the flows of credits to productive sectors of the nation.
They are the second largest group of financial institutions. Their financing activities include hire purchase financing, leasing, bridging finance and lending for commercial, industrial and residential construction.
Merchant Banks are licensed under the Banking Act 1973, which requires them to observe:
As merchant banks are permitted to operate in the country "to complement and supplement the activities and services already provided by the commercial banks and the finance companies". Particularly in providing specialized services involving corporate finance and management and financial investment advice, a condition is impressed on the licensing of these that at least 30 % of income should be derived from fees based activities within three years, commencing, January 1979.
| Fixed Deposit | Minimum deposit RM 5,000 |
| 1 to 5 months | 3.45 % p.a. |
| 6 to 8 month | 3.5 % p.a. |
| 9 to 11 month | 3.75 % p.a. |
| 12 to 14 month | 4.25 % p.a. |
| 15 months or more | negotiable |
| RM 100,000 | 4.07 % p.a. |
| RM 50,000 | 3.56 % p.a. |
| RM 10,000 | 2.7 % p.a. |
Master cards, Visa Cards, Diners Club and American Express are accepted. Check with your credit or debit cards company for details of merchant acceptability and other services which may be available.
References:
Travel Guide Malaysia,
http://www.travel-guide.com/data/mys/mys.asp
Information Malaysia 2002 Year Book
| website sponsored by: Bundesamt für die Anerkennung ausländischer Flüchtlinge (BAFl) through European Refugee Fund (ERF), and Zentralstelle für Arbeitsvermittlung (ZAV) through Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung (BMZ) |
| website administered by: AGEF gGmbH, Berlin, info@agef.de , www.reintegration.net, www.agef.net |