KUALA LUMPUR: The government will introduce the ASEAN Business Entity (ABE) status coordinated by the Securities Commission Malaysia (SC) to facilitate the movement of skilled talent, thus supporting the growth of Malaysian companies in ASEAN.
Prime Minister Datuk Seri Anwar Ibrahim said the status was given to public-listed companies that have a broad market footprint in ASEAN and mid-sized companies with the potential to expand operations.
The establishment of ABE was first proposed by the chairman of the ASEAN Business Advisory Council (ASEAN-BAC) Malaysia, Tan Sri Nazir Razak.
ASEAN-BAC Malaysia proposes that ASEAN countries recognise a category called ABE to foster companies that are not local or global in nature to stimulate more regional businesses.
Nazir said that once certified as ABE, a company can enjoy incentives and privileges provided by member countries including greater market access.
Anwar, who is also the Finance Minister, said the Single Family Office Incentive Scheme gazetted for the Forest City Special Financial Zone had achieved great success following the approval of six Family Offices with assets under management (AUM) of almost RM400 million in less than a year.
“Thirty more Family Offices have expressed interest. Malaysia is on track to achieve RM2 billion AUM by the end of 2026,“ he said when tabling Budget 2026 in the Dewan Rakyat today.
Meanwhile, he said, the Investor Pass mooted by the Malaysian Investment Development Authority (MIDA) provides Multiple Entry Visa facilities of up to 12 months to foreign investors.
“MIDA will be more proactive in not only waiting for applications but offering Investor Passes to multinational companies and potential investors in key sectors such as electrical and electronics (E&E).
“The Residence Pass-Talent Fast Track continues to ensure that talents brought in by strategic investors are managed quickly and in an orderly manner, including exempting the Employment Pass requirement for three years,“ he said.
Starting in the first quarter of 2026, Anwar said the New Performance-Based Incentive Framework which focuses on high-growth activities will be fully implemented for the manufacturing sector, followed by the services sector in the second quarter. – Bernama
