Promotion of Investments (Criteria for the Grant of Pioneer Status to a Small Company) Order 2008

Promotion of Investments (Criteria for the Grant of Pioneer Status to a Small Company) Order 2008

In exercise of the powers conferred by subsection 6(1a) of the Promotion of Investments Act 1986 [Act 327], the Minister, with the concurrence of the Minister of Finance, makes the following order:

Citation and commencement

1. (1) This order may be cited as the Promotion of Investments (Criteria for the Grant of Pioneer Status to a Small Company) Order 2008.

(2) This Order is deemed to have come into operation on 21 May 2003.

Criteria for the grant of pioneer status to a small company

2. (1) The criteria for the grant of pioneer status to a small company shall be as follows:

(a) the small company shall participate in a promoted activity or produce a promoted product and achieve at least fifteen percent value added
in its activity or product; or

(b) the small company’s participation in the promoted activity or production of promoted product contributes towards the sosio-economic development
of the rural areas in Malaysia.

(2) In this Order, “value added” means total gross sales less cost of raw materials.

Revocation

3. The Promotion of Investments (Criteria for the Grant of Pioneer Status to a Small Scale Company) Order 1990 [P.U. (A) 196/1990] is revoked.



Made 22 August 2008
[MITI: ID/BI/S/0.1432 Jld. 4; PN(PU2)451/VI]
Tan Sri Dato’ Haji Muhyiddin bin Haji Mohd. Yassin
Minister of International Trade and Industry

Concurred 28 August 2008
Tan Sri Nor Mohamed Yakcop
Second Minister of Finance