GENTING MALAYSIA BERHAD

PREPARED BY:
1. NUR FARHANA BINTI MOHD YUSOF (2022816052)
2. AMIERA NUR DAYANA BINTI SHUHAIMI (2021627192)
3. NUR ATHIRAH BINTI MAHDIR (2022844286)
4. NURQURAISHAH BINTI MOHAMMAD TAMIZI (2022844556)
5. NUREEN SYAZWINA BINTI SAJANI (2022801116)

CLASS: JAC20223D

PREPARED FOR:
DR. SAUNAH ZAINON
COMPANY BACKGROUND
Genting Berhad is principally an investment holding
and management company. While in the Company was
incorporated in year 1968 and listed in 1971, the Genting
Group was founded in 1965 when its Founder, the late
Tan Sri Lim Goh Tong started the journey to realise his
vision of building a mountaintop resort in Malaysia.
Genting Malaysia Berhad or Genting Malaysia " or
"Group " is one of the big leading leisure companies.
This company was runs a hotel and tourism group of
hospitality corporations in Malaysia and also outside
Malaysia.
Genting Malaysia also provides premier leisure and
entertainment services and it has a market
capitalisation of RM16 billion as at 31 December 2021.
It also operates one of Asia’s leading and best-managed
multinational companies.
2.0 TYPES OF COMPANY INCENTIVES :
Pioneer status
- granted company pioneer status to enjoy tax exemption on
70% of its statutory income for 5 years.
-the amount will be transferred into an exempt income
account (EIA) from which a two-tier dividend can be declared.
TYPES OF TAX
- The company only has to pay 30% of its statutory income.
INCENTIVES OF
Investment tax allowance (ITA)
-A company granted ITA is entitled to an allowance of 60% of
THE COMPANY
its qualifying capital expenditure incurred within five years
from the first qualifying expenditure is accrued
--The company can off set this allowance against 70% of its
statutory income for each year of assesment.
The company is qualified for income tax exemptions of
100% to its qualifying capital expenditure for periods of 10
years.
The company also has available deductions made under
the company since this company has obtained
certification based on CA 2016.
Income after deduction of allowable expenses and capital
EXEMPTION OR
allowable expenses and capital allowances. (unutilized tax AVAILABLE
losses & capital allowances) DEDUCTION
It needs to be carried forward due to the post-pioneer MADE UNDER
period set off against the future business income of the THE COMPANY
company.

Based on the company annual statement 2021 of Genting

Berhad, the tax incentives for this company are pioneer
status.
Genting Berhad enjoys a five-year partial exemption from
the payment of income tax.
They can get pioneer status as they have been doing a big
promotion to promote Genting Skyworlds. EXEMPTION OR
They have gained much profit from Genting Skyworld as it
AVAILABLE
can attract many people to experience this theme park.
Net impairment losses decreased from RM 856.7 million to
DEDUCTION
RM 552.8 million ( decreased RM303.9m)
MADE UNDER
impairment losses arose back due to ddelaysin
THE COMPANY
development activities caused by the Covid-19 pandemic
situation.
Genting Bhd granted ITA but this does not effect the
pioneer status.
 participated in promoted activity
or product
involve theme parks,
convention centre, recreational
parks, hotels and tourism
CONDITIONS projects
/CRITERIA undergoing expansion project
FOR
ELIGIBILITY located in promoted areas
OF TAX
INCENTIVES Kelantan, Terengganu, Perlis,
Pahang, Mersing, Labuan,
Sabah & Sarawak
 PROMOTED ACTIVITIES
THEME PARKS, CONVENTION CENTRES, HOTELS (1-5 STARS)

STUDIO PLAZA EAGLE ICE AGE

MOUNTAIN
 PROMOTED ACTIVITIES
THEME PARKS, CONVENTION CENTRES, HOTELS (1-5 STARS)

GENTING INTERNATIONAL GENTING SKYWORLDS FIRST WOLRD HOTEL

CONVENTION CENTRE HOTEL (3 STARS) (3 STARS)
(CIGG)
PROMOTED
AREAS

Genting Highland,
Pahang, Malaysia
OTHER RELEVANT
INFORMATION Tax deductions are methods of lowering taxes for firms
and people in exchange for particular actions or
RECOMMENDATION OF NO. 2: investments on their behalf. Their goal is to inspire
IF THE COMPANY IS CURRENTLY companies and individuals to engage in compassionate
and/or community-beneficial conduct.
ENJOYING TAX INCENTIVES, THERE IS
A SUGGESTIONS ON HOW THE Genting Malaysia Berhad was enjoying the tax
COMPANY CAN MAXIMIZE incentives.
UTILIZATIONS OF TAX INCENTIVES.
The tax incentives they enjoyed is PIONEER STATUS due
to aggressive promotion of their product in the year
2022.
OTHER RELEVANT i) Do more aggressive in marketing strategy
INFORMATION

RECOMMENDATION ON HOW THE

ii) Get a consultation from a Tax Professional

COMPANY CAN MAXIMIZE

UTILIZATIONS OF TAX INCENTIVES.

iii) Company can cover the business expenses earlier

iv) Create allowable expenses

CONCLUSION
Genting Berhad is one of the big groups that has such

an amazing clean financial record as they maintain the

consistency and the accuracy of financial statements

in their annual report.

Genting Berhad is such a successful organisation due to

the fact, as at 31 December 2021, Genting Berhad

turned out to be one in every of the largest indexed

groups in Malaysia with a marketplace capitalization of

RM16 billion.

Manage to keep a healthy relationship with their

employees
Committed to innovation and adoption of the new

technology to achieve competitive advantage.

Pursue personnel policies which recognize and reward

performance and contribution of employees as well.

THANK
YOU