Events & Seminars

Seminars - Year 2011

3/5/2011 Opportunities for the Services Sector – Malaysia – India CECA Conference 2011

Dato’ N.K. Jasani, the Managing Partner of SJ Grant Thornton was one of the panel speakers for Malaysia – India CECA Conference 2011 organised by the CIIM (Consortium of Indian Industries in Malaysia) on 3 May 2011 at Crowne Plaza Hotel Kuala Lumpur. The Comprehensive Economic Cooperation Agreement (CECA) is an ambitious agreement that envisages liberal trade in goods and services and a stable and competitive investment regime to promote foreign investment between Malaysia and India.

Speaking on ‘Opportunities for the Services Sector’, Dato’ Jasani shared the stage with Mr. Thomas Varughese, Deputy Managing Director of HSBC Commercial Banking, Mr. Rohit Gandhi, Managing Director of Mahindra Satyam, Mr. Bobby Varanasi, Chairman and C.E.O. of Matryzel Consulting Inc. and Mr. Anil Snehi, Regional Head ASEAN Country of Tata Consultancy Services.

Focusing on the areas of Accountancy including Auditing, Taxation & Restructuring, Corporate Finance, Legal & Corporate and Engineering & Architectural, Dato’ Jasani shared his thoughts on the strength of the services sector in India and Malaysia, the importance of International and Regional groupings, major limitations, India’s FDI and financing.

Strength of the Services Sector in India and Malaysia

Dato’ Jasani commented that India possesses a vast pool of talented Human Resources and they have good experience from many challenging projects and assignments. The workforce is large in size and in terms of Time-cost, India is very competitive as compared to Europe or USA. Furthermore, Indians have dedicated work ethics.

In Malaysia, the workforce possesses experience of varied nature with local and International companies as well as in the Region. We have good connections in the Region including ASEAN, China & Middle East, close relations with the International companies. We also have the advantage of language capabilities particularly in Mandarin and Bahasa Indonesia.

Importance of International & Regional Groupings

The Accountancy profession is most leading. Grant Thornton and other major firms have International Member Firms all over the world and this enables transfer and combination of resources. For example, at Grant Thornton, we are able to be involved due to experience inputs from Grant Thornton Mumbai office for a wind power public floatation in Sri Lanka. Malaysia and China Investors are involved.

Major Limitations

One of the limitations are the difficulties in Immigration procedures both in Malaysia and India for expatriate professionals. There must also be a mutual recognition of professional qualifications.

Riding the wave of India’s FDIs in the Region

Indian companies have been strident in investment/take over of companies in the US and Europe. Above trend now happening in ASEAN particularly in mining sector. Services can benefit from the above FDIs.

Financing

Tapping into lower financing cost in Malaysia and utilising Islamic Finance .Companies can benefit from the Labuan IOFC for legal base of International operations.

For any enquiries, please contact Ms Sharon Sung at sharonsung@gt.com.my