Malaysia Company Law 2018: Total Revamp With Huge Tax Planning Opportunities

Prepared Yourself to Face the New Changes in Business Structure & its Administration with the Revolutionary Companies Act 2016 !

NEW : INCORPORATE NEW-SST MODEL INTO YOUR BUSINESS PLANS & STRATEGIES

Companies Act 2016 (CA 2016) took operation on 31 January 2017. It is an entire New Legislation with completeness on its own, business friendly coupled with full transparency.

Company Directors of the companies are the officers primarily in charged on compliance, auditors are given the flexibility to resign yet may be removed by simple ordinary resolution, Company Secretary are now exposed to wider spectrum of risk.

The Concept, Methodology, Compliance inherent within the CA 2016 need to be fully comprehended, to avoid unnecessary Monetary Penalties, Fines and Risk of Imprisonment of Director. If dividends are wrongly paid, the board of directors can be held personally liable which inevitably affecting their personal assets.

The CA 2016 read together with Income Tax Act 1967 on the other hand do offer variety of Tax Planning to be ridden on.

With so many various radical changes have been introduced and crafted. It is a Total Rrevamp!

A special 90 minutes session on NEW Sales and Services Tax (SST) would be added on to this FOUNDATION LEVEL of Company Law seminar. It is aimed to provide the know how to participants to ensure Business Plans and Strategies are embedded with SST elements.

The essential features of SST is business friendly, simple in applications and result in no tax refund in all circumstances. While it is important for businesses to know the NEW SST Model, Concept and Methodology, at the meantime it is IMPORTANT to reshape the existing business model based on this New Company Structure to ensure the transition from GST to SST is smooth and efficient.

Companies Commission of Malaysia (SSM) in now empowered by the CA 2016 to ensure full compliance within the timeline stated and entrusted to prosecute the company officer for malpractice or intentionally to provide misleading information.

Financial Accountants are the entrusted professional to ensure accurate, timely, complete information are provided to SSM, they are also acting as the back bone to support directors in discharging the directors’ duties. If the director is exposed to 5 years imprisonment, it is almost a close certainty that Financial Accountants will be liable for 10 years imprisonment.

This seminar will unlock the inherent mysteries within the CA 2016, completely examine the concept and methodologies to allow you to acquire the knowledge, skills and experience at ease.

In addition, with this Companies Act 2016 being in its firstly introduced in Malaysia after 13 years of preparation. There are various gaps created, this seminar will not only Dissect and Reveal the essential elements of this Act in relation to shareholders and directors of companies, but also solutions to issues such as whether shares can now buy back or not to buy back, financing options, dividend issuance challenge, etc. understand also how Tax Efficiency and good Tax Planning can be achieved under this NEW corporate Structure. 

If you think GST was exciting, wait till you see this Company Law. It is a Total Revamp!

This Company Law 2016 seminar will stand out due to our unique focus on Tax Planning and the Complete and Extensive Updates needed for your Corporate and Business Planning.

Dr Choong will dissect and reveal the hot elements of the Companies Act 2016 in relation to shareholders and directors of companies. The significant changes would ease up the setting up of Sdn Bhd to carry out business for income tax efficiency and good Profit Distribution under this NEW Corporate Structure.

Of course, the perspective of Tax Planning and the Complete and Extensive Analysis of this Companies Act 2016 are taken into account.

Also, take note that there is a NEW hefty CRITERIA to be satisfied prior to Distribution of Dividends.

More exciting news! 
This time each participants are allowed to send in 2 Questions in relation to Companies Act 2016 and the suggested business solutions will be shared during the event.

In view that company law is a total revamp, the old law is completely wiped off and will be starting afresh with Companies Act 2016, to support your understanding, attendees are now given the liberty to submit 3 post event questions to Dr Choong within 3 months of time, from the date of event, where he will reply vide email.

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What is this programme about?

Specially for those who want to learn the Huge Tax Planning Opportunities from Companies Act 2016 (Foundation Level)

With the implementation of Companies Act 2016 since 31st of January 2017, Shareholders have now given a vital role in managing the company’s business despite company having its own directors.

Company Directors on the other hand are LOADED with Hefty Responsibility and Obligation.

This seminar will dissect and reveal the key elements of the Companies Act 2016 in relation to Shareholders and Directors of companies. One of the essential features is that a Sdn Bhd can now be owned by Single Shareholder and Single Director. This significant changes would ease up the setting up of Sdn Bhd to carrying on business for income Tax Efficiency.

A special 90 minutes session on NEW Sales and Services Tax (SST) would be added on to this FOUNDATION LEVEL of Company Law seminar. It is aimed to provide the know how to participants to ensure Business Plans and Strategies are embedded with SST elements.

The essential features of SST is business friendly, simple in applications and result in no tax refund in all circumstances. While it is important for businesses to know the NEW SST Model, Concept and Methodology, at the meantime it is IMPORTANT to reshape the existing business model based on this New Company Structure to ensure the transition from GST to SST is smooth and efficient.

This seminar will completely analyse the Companies Act 2016 from the perspective of Tax Planning. Participants are allowed to send in 2 questions relating to Companies Act and suggested Tax & Business Solutions will be provided during this exciting seminar.

The contents including:

 

(a) Appointment, removal, resignation or retirement, remuneration and expenses of:

   (i) Directors

   (ii) Auditor

   (iii) Company Secretary

(b) Director’ Duties and Responsibilities:

    (i) Directors’ NEW Duties and Defences – the added load of Personal Liability as to Income Tax and Real Property Gains Tax (RPGT)

    (ii) Board of directors – functions, authorities and relationship between directors

   (iii) Written Resolution – what rules are archaic and what are the new and necessary circumstances to be used in written resolution

   (iv) Loan to directors – Transfer Pricing Management and when director should say NO?

   (v) Preparation of Director’s Report and Business Review

   (vi) Directors’ liabilities, penalties and offences, disclosure of interest rules

   (vii) Indemnity insurance application

(c) Financial Accountant’s NEW Duties and responsibilities

(d) Meeting with Shareholders (Members of Company)

   (i) with AGM

   (ii) via Written Resolution

   (iii) Quorum 

   (iv) Voting Procedures – by hand, poll, Written Resolutions

   (v) Conflicts between shareholders intervention and directors refusal to act – What are the middle grounds to take and resolve?

(e) Annual General Meeting is now discretion – but do look out what is the tax consideration and appropriate procedures for submission of annual return

(f) Shareholder’s interference in the company operation – triggering Transfer Pricing issues and related parties’ concern that should be taken into account

(g) Shares in no par value regime – the consideration, do’s and don’t’s

(h) Share capital for incorporating a company – how much is adequate, how much is considered to be too little?

(i) Solvency Test and statement 

   (i) application – with illustration 

   (ii) penalties on non-compliance

   (iii) Solvency Test and statement – the detailed mechanism and director’s defences

(j) Dividend proposed, payment and its inherent risk – with practical application, case study

(k) Dividend payment or capital reduction? – the noting point and PRECAUTIONS before the next pay-out and share reduction

(l) Profit Distribution under the new regime for Tax Efficiency

(m) Accounting compliance impact from implementation of Companies Act 2016

   (i) audited accounts circulation and lodgement timeline

   (ii) records keeping and retention

   (iii) annual return submission

   (iv) exempt private company – procedures

   (v) issued and paid up capital – the presentation

   (vi) redemption of preference shares – the noting points

   (vii) shares buy back- Shares can now buy back – Should you REALLY BUY IT?

   (viii) transitional provisions on shares premium accounts

   (ix) issuance of redeemable preference shares, debenture, ordinary shares – still good now?

   (x) Audit Exemption on small companies – rules and guidelines

(n) Business contract – Witness or Common Seal?
What are the NEW Credit Control Management procedures needed to deal with company with single shareholder?

(o) Capital reduction mechanism and procedures – when to use it and when to say NO to it?

(p) Financial assistance mechanism and procedures –
Company providing financial assistance for shares purchased – what are your new income tax consideration?

(q) Interest Scheme Act 2016 – Methods to raise Capital or Seed Capital

(r) Constitution

   (i) to have or not to have

   (ii) existing M&A and A&A is deemed constitution – to amend, alter or to replace with a new one?

   (iii) what are the various consideration needed prior to adopting the New Constitution?

(s) Single Director company?

   (i) incorporation

   (ii) operation mechanism

   (iii) death of single director

   (iv) succession alert

(t) Setting up a company with single shareholder and director – the risks and safeguard to be taken into account

(u) Convert to Single Shareholder Company ? – What hiccups and Estate Planning needed before you jump into it

(v) Tax Efficient Corporate Structure under the Companies Act 2016

(w) Members of company (shareholder’s intervention)

   (i) compliance procedures

   (ii) director action or reaction

(x) Striking off the company – rules and procedures

(y) Thin Capitalisation Rule – how new company law will trigger and how to defence against it?

(z) More will be added where relevant…

 

 

Company Law is growing in a progressive manner, with NEW Companies Act 2016 being implemented now, the content listed above is not exhaustive and it will be further expanded.

“Knowledge is important; Application and Tax Planning is also the main focus for this seminar.”

 


Bonus Component :

1. COMPANY CONSTITUTION (TEMPLATE)

Each company is unique, that is why Dr Choong has prepared template of the company constitution where you can refer, mix and match, to ease your work and customised to you company’s nature and activities;

2. BUSINESS CONTRACTS

With the evolution of company composition and changes available in corporate structure, NEW safeguard features will be discussed and presented.
Know them before you sign your next new business contract.

   

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Who is it for?

Created for the Business and Financial decision makers

Shareholders and Directors
(Personnel involved in managing the company)
The one who is given the honours and duty to manage and to oversee the company.
(applicable to all industry).

 

Business and Financial Decision Makers
(CEO, CFO, General Manager and Financial Controller)
Major changes and substantial decision making has to be made to take into account the New Companies Act into company’s restructuring activities and affect substantial buying , selling and conclusion of contracts.

 

Company Secretary, Auditors, and Tax Agents
The advisors and professionals to businesses please gear up and patch up your dose of New Companies Act and implementation action plan.
Auditor has a substantial role to play during the preparation of Audit Report.

Legal Professionals, Contract Manager, Corporate Lawyer, Business Consultant, Business Advisor, In-House Lawyers
You are the one who will give advise in relation to company restructuring matter, M&A issues and other corporate legal issues. It is the right time to understand and update on the New Companies Act.
How your legal advice will impact one’s operation right from the commencement of a new business.

Accountants, Financial Controller, Senior Executives

Applying a new MFRS and new GST are tough enough, plus the Malaysia Companies Act 2016 which is bringing Malaysian Business structure change and cut across all industries in your accounting work.

The record keeping and recording of historical transaction has a new role to play, it is paramount important for you to understand all the ins and outs of this Malaysia Companies Act 2016.

How it will affect your documentation from now onwards and all the compliance requirements and thresholds table involved. There are ample work to prepare before the shift which is imminent.

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DR CHOONG KWAI FATT was the pioneer in GST, he is going to be the pioneer for this New Companies Act. He is appointed by the Ministry of Finance as one of the panel members reviewing tax reforms in Malaysia, inclusive of the formulation of GST. With his research work on GST being published in 2006 and articles in 2007.

He has more than 24 years’ experience of providing consultancy services to listed companies, audit firms and the Government. Dr Choong is a highly sought GST & Tax Consultant and speaker. He is highly qualified with both professional Accounting Qualification and Legal Qualification. With chartered accountancy from 6 professional bodies and called to bar as an Advocate and Solicitor in Malaysia. Also an avid researcher equipped with a PhD in Taxation.

He has won various awards for excellent in tax research and published GST & Taxation Articles in reputable journals in and outside Malaysia. His research works have been quoted in many tax cases and have influenced the formulation of tax policy in Malaysia.

He is known by attendee of his seminar as a man with heart of gold. He is passionate about helping the tax professionals, accountants, senior executive, lawyers and business owners to enhance in taxation skills, knowledge and wealth through mitigating of GST risk and implementation. Having more than 20 years of experience in public speaking, participants love him for his passion in taxation and ability to make complex tax concept understandable by different walks of life.

He is the expert of experts in terms of Tax Planning for Companies , where he provided advice and personally trained corporate accountants and professional firms on Tax Planning for Companies and its implementation. Get ready to take good notes when you attend his GST implementation seminars.

 

SpeakerImage1

Dr Choong Kwai Fatt

Tax Consultant, Advocate and Solicitor (High Court of Malaya)
B.Acc(Hons)(Malaya),LL.B(Hons)(London), CLP, MCL(IIUM),PhD(IIUM),
FCCA(UK), CPA(M), CA(M), ACA(ICAEW), CA(Aust.),CPA(Aust.), CGA(Can), FCCS.

 

 

Click the icon below to download the speaker’s full profile.

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Program Timeline

The estimated timeline to discover Malaysia Company Law 2018

11 June 2018, Monday (The Gardens, Mid Valley City, KL)

8.30 AMREGISTRATION & BREAKFAST (BREAKFAST PROVIDED)
9.00 AMSetting up a company with single shareholder and director – the risks and safeguard to be taken into account
Convert to Single Shareholder Company ? – What hiccups and Estate Planning needed before you jump into it.
Audit Exemption on small companies - What are the rules and guidelines to be taken into account?
Tax Efficient Corporate Structure under the Companies Act 2016
Business Contracts – What are the NEW Credit Control Management procedures needed to deal with company with single shareholder
Constitution – the unlimited capacity of a company seems attractive, but what are the various consideration needed prior to adopting the New Constitution?
10.15 AMBREAK (SNACKS PROVIDED)
10.30 AMShare capital for incorporating a company – how much is adequate, how much is considered to be too little?
Issuance of debenture, preference shares, ordinary shares – efficient use and manner to use
Preparation of Director’s Report and Business Review
Written Resolution – what rules are archaic and what are the new and necessary circumstances to be used in written resolution
Capital Reductions – when to use it and when to say NO to it?
Interest Scheme Act 2016 - Methods to raise Capital or Seed Capital
Member Voluntary Liquidation and Company Liquidation
Guidelines to become an Approved Liquidator
12.30 PMLUNCH (MEAL PROVIDED)
2.00 PMAnnual General Meeting is now discretion – but do look out for your tax consideration and appropriate procedures for submission of annual return
Conflicts between shareholders intervention and directors refusal to act – What are the middle grounds to take and resolve?
Thin Capitalisation Rule – how new company law will trigger and how to defense against it?
Dividend payment or capital reduction – the noting point and PRECAUTIONS before the next pay-out and share reduction
Solvency Test and statement – the detailed mechanism and director’s defences
Directors’ NEW duties and defences – the added load of personal liability as to income tax and Real Property Gains Tax (RPGT)
Shareholder’s interference in the company operation – triggering transfer pricing issues and related parties
3.00 PMBREAK (SNACKS PROVIDED)
3.15 PMLoan to directors – transfer pricing management and when director should say NO?
Shares can now buy back – Should you REALLY BUY IT?
Company providing financial assistance for shares purchased – what are your new income tax consideration?
Profit Distribution under the new regime for Tax Efficiency
To continue or to liquidate – How about “to restructure” as an alternative?
Transitional Application on Company Law
5.00 PMQ & A Session
7.00 PMEnd of live event

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3 Ways to Register

There are 3 ways you can register. Choose any of the following.

1. Register Online (Most Popular Option!)

You will receive an email containing the Tax Invoice after submitting the Online Form.
This is the Fastest and Most Convenient way to register yourself for this exciting upcoming event.
Fill up the Online Form and Click Submit button, you shall receive an email for the Tax Invoice.
Follow the Payment Method on the Tax Invoice to make payment.
If you are making payment while filling up this Online Registration form, you can upload your payment transaction slip too.

Click here to Register Online

2. Download the Physical Form (For Hardcopy Registration)

This is the Best Option for you to get your approval from management!
Simply click below to download the Form and fill them.
Thereafter, scan and email your form to us.
We will process the form and have the Tax Invoice to be emailed to you.
Follow the Payment Method on the Tax Invoice to make payment.



Click here for Physical Registration Form

3. Email Us (For Multi-Company Registration)

For those who are in GROUP REGISTRATION and require MORE THAN 1 Tax Invoice. You can email to us via event@synergytas.com with the following information:
Participant's Name, Gender, Valid Contact Number, Designation, Email.
Company's Particulars and the person to be liased in relation to payment.
If you require Tax Invoice for different Companies, kindly indicate in the email for example:
Participant 1 under Company A's Tax Invoice;
Participant 2 and Participant 3 are under Company B's Tax Invoice, etc.
We will do the necessary and email you the Tax Invoice.
Follow the Payment Method on the Tax Invoice to make payment.

Click here to Email Us

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Price/ Register Online

Choose the right category based on Number of Participants

RM1,188+ Early Bird Price 1 - 2 Pax

Enjoys RM 200 off when you register by 11 May 2018.
Register at Early Bird Price to enjoy RM 200 off (RM 1,388 - RM 200 early bird discount = RM 1,188+ per pax)
Early Bird price ends on 11.5.2018. Fee is subject to 6% GST.
Seats are limited and subject to availability.

Register of 1-2 pax Online

RM1,388+ Normal Price 1- 2 Pax

Register for this event at normal price.
This rate applicable to registration after 11 May 2018.
Fee is subject to 6% GST.


Register of 1-2 pax Online

RM1,088+ Group of 3 - 4 Pax

Register three or more participants to enjoy additional RM 100 off =
(RM 1,388 - RM 200 early bird discount - RM 100 group registration discount = RM 1,088+ per pax)
Early Bird price ends on 11.5.2018. Fee is subject to 6% GST.
Seats are limited and subject to availability.

Register Group of 3 - 4 pax Online

RM988+ Group of 5 Pax and more

Register five or more participants to enjoy additional RM 200 off =
(RM 1,388 - RM 200 early bird discount - RM 200 group registration discount = RM 988+ per pax)
Early Bird price ends on 11.5.2018. Fee is subject to 6% GST.
Seats are limited and subject to availability.

Register Group of 5 or more Pax Online

Meet Dr Choong Kwai Fatt live. He is known for his ability to simplify complicated tax law, into reader friendly and easily digest pieces.

He will reveal the latest analysis on the Companies Act 2016 and the perspective of Tax Planning. We do not just provide the necessary guides, we will highlight various risk areas, traps and treats in this new Corporate Structure regime.

With opportunities to meet up with friends and peers whom are equally interested in updating and learning the latest tax treats and tricks. Networking and catch up on the latest development, sharing of ideas and various solutions.

BONUS :

2 HOURS OF Q & A SESSION

Highlight of the event is the 2 hours Q & A session from 5 – 7 PM. Where participants will address their own Corporate structure concerns and get them answered by the tax expert himself. Various companies has find this to be extremely useful and practical, in view that each company is distinct and the opportunity to tap into the speaker’s insight on issues arising in their company is priceless.

In addition, the questions asked and addressed by Dr Choong is a great learning opportunity for all participants, an eye opener and enhanced our skills and experience exponentially.

HRDF Claimable – subject to employer obtaining prior approval from HRDF.

Early bird is applicable until 11 May 2018.

Group registration of three enjoys RM 100 off for each participant.

Group registration of five enjoys RM 200 off for each participant.

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Venue

More information about the venue


The seminar will be held in Ballroom, Level 5, The Gardens Hotel, Mid Valley City

Park in Zone B, Zone U or Premier parking zone which normally has adequate parking available or utilize the hotel valet option which is reasonably priced for all hotel guests.

Within the vicinity of one of Kuala Lumpur’s most popular shopping mall, it is ideal for outstation participants to bring along family to spend a weekend in Mid Valley City after attending seminar.

Flat rate of RM 5 per entry with validation for parking in Zone B, U or Premier parking zone.

roadmapAddress :

THE GARDENS HOTEL & RESIDENCES – ST GILES LUXURY HOTEL
The Gardens, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur
Tel: 603 2268 1188 • Fax: 603-2284 8998
Email: infoghr@stgiles-hotels.com

 

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HRDF Claimable*

The Expert of the Experts

Seminars conducted by Synergy TAS PLT are eligible for HRDF claimable, subject to prior application to HRDF by the employers.

We engage Dr Choong Kwai Fatt to conduct this Company Law and tax planning seminar. Tap into the creative yet practical mind of Dr Choong.

Topics Expanding

10 CPD Awarded

Company Law, similar to Taxation is a field which grows continuously. With changes made continuously be it from the parliament, the court or the tax authority. The list of topic covered in this seminar is not exhaustive. New topics will be included as it arises until the event to ensure latest information given to you.

10 CPD is awarded and Certificate of Attendance based on that is to be issued. Our participants came from different professional bodies. We provide you a certification which is widely accepted by the various professional bodies. The final CPD accepted by professional bodies vary and subject to each bodies’ discretion.

2 Hours of Q & A

Let us do the muscle and brain work for you

This is the highlight of the event. 2 hours of non-stop QUESTION AND ANSWER by the expert on your corporate and tax concerns. Tax planning is about knowing the strategy to apply in specific scenario to maximise tax saving in a legal manner. Sharing of such experience is paramount to us.

While you focus on revenue generating and operation, on things that matters, we do all the muscle and brain work just for you. We compile most up to date laws and the latest tax updates. Process and summarise them into understandable language. We develop, package and give you the relevant guides and references. What you need to do is just comprehend and apply them.

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Frequently Asked Questions

Read on for questions commonly asked by participants

CAN I CHANGE PARTICIPANT NAME LATER?

Yes, we do understand plans are always subject to change. Do provide us the name two weeks before the event date. If change of name was notify after we have printed the certificate, reprinting of cert can be done with a certificate reprinting administrative fee of RM 100.

CAN I GET THE MATERIALS PRIOR TO THE EVENT?

We wish we can answer yes to this. Our seminar is based on latest and most update rules and regulations, with a cut off point of 1-2 weeks before the event. The earliest date to get the seminar materials is one week prior to event date. In this regard, we will have to turn down all request to deliver materials prior to event date.

WILL MY DATA BE SAFE?

We upheld Data Protection Act. We will not disclosed the information of who attended our seminar to third party. You are in good hands!

CAN I CLAIM CPD?

We provide 10 CPD for our event, however professional bodies has its own internal rules.

Some of the professional bodies do limit the CPD claimed to 8 CPD per seminar day. This part is unfortunately beyond our control.

We trust the above clarifies your enquiries in relation to CPD. We thank you for your support and do drop by an email if you have further concerns.

For Bar Council Approved CPD is total 6 CPD.

MORE QUESTIONS?

+6016-302 6109 Call or email us any time Monday to Friday and we’ll help out!

CAN I CHANGE TO A DIFFERENT SESSION OF THIS EVENT?

Unfortunately, most of the session will not be repeated. Should there be a similar session, you can change to other session of the same event, subject to availability. Refund is not possible but replacement can be accepted prior to the event.

 

I HAVE NOT ATTENDED ANY COURSE RELATED TO NEW COMPANIES ACT , WILL I BE ABLE TO CATCH UP WITH THE IDEAS AND INFORMATION DISCUSS IN THIS SEMINAR?

Yes, Dr Choong will first run through the principles. It is relevant for those who are new to this New Companies Act as well as those who have aware of this new Act. The general principle is not difficult to follow. It is the analysis and application as well as the tax planning which is the challenging. Still worried unable to catch up, click here for some facts about this New Companies Act.

HOW ARE WE DIFFERENT FROM OTHERS?

We distinguish ourselves based on three areas. We are specialist in tax seminar

We are reputable event organising company set up to organise advanced tax planning event. Our motto is to encourage the policy of “plan your tax, do not evade tax”.

Our well researched materials

Our participants mainly consist of corporate leaders, practitioners and senior executives, we hold firm to the view that we must do all it take to maximise learning and impact in minimum amount of time. We take pride in providing the most updated and well researched information. “We do the research, so that you do not have it”. Tax is a highly technical subject, we are known for compiling, complete sets of information needed for participants to refer after the event. Do expect to carry back to office at least a thick 2 inches file, in fact for this event reserve two file space for the seminar materials.

Best speaker

A speaker will make or break an event. Our seminar do attract the best talents in the industry, we commit to only engage top speaker and subject matter expert for all events organised by us.

Our events are HRDF claimable (subject to application by participant)

 

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