27/05/2025

BIZ & FINANCE TUESDAY | MAY 27, 2025

15 M’sian SMEs need help on e-invoicing

o Just 31% have integrated it into their daily operations and 19% have yet to begin implementation: Xero survey

better compliance, fewer errors in record-keeping and faster pay ments. In contrast, larger SMEs are focused more generally on improved efficiency across the business. “The e-invoicing mandate is an opportunity for Malaysia’s SMEs to accelerate their digital trans formation journeys. With guidance and support from their accountants, bookkeepers and business advisors, they’ll be able to not only make sense of requirements and technology required for compliance, but also the tools that will simultaneously enable them to operate more efficiently and productively,” Wines said. “Particularly for smaller busi nesses that run on leaner resources, they’ll be on the lookout for simple, easy-to-use and cost-effective solu tions.” “Once SMEs are able to bridge that gap and fully implement e invoicing, they will start to reap rewards for their business, including increased efficiency, better cash flow, and significant time and cost savings,” said Wines.

SMEs with annual revenues of between RM500,001 and RM25 million say they are confident in their ability to implement e-invoicing, compared to 57% of smaller SMEs with annual revenues of between RM150,000 and RM500,000. In larger SMEs, e-invoicing is often implemented by dedicated teams comprising more than three employees, or a ‘hybrid model’ combining both internal teams and external expertise. In contrast, implementation in smaller SMEs is often driven by business owners themselves, or small teams of up to two employees. While both groups pointed to a lack of understanding of the mandate’s requirements as their top concern, smaller SMEs identified a lack of time to explore imple mentation as their second most pressing challenge, while larger SMEs indicated concerns over having large volumes of data to digitise. Both groups recognise the benefits of e-invoicing, with smaller SMEs focused on imme diate operational impacts such as

improved efficiency (67%), and better compliance (55%) identified as the most anticipated gains. “Many business owners under stand that change is coming, but they are overwhelmed by complexity, unsure of where to start, and concerned about doing it right,” said Xero Asia

PETALING JAYA: As Malaysia progresses with the phased rollout of its nationwide e-invoicing mandate, a new white paper by global small business platform Xero reveals that the country’s SMEs need support and guidance to help them understand and build capability ahead of implementation deadlines. The Inland Revenue Board of Malaysia mandates that businesses must fully transition to e-invoicing by specific dates – July 1, 2025 for businesses with annual revenues more than RM500,000 but less than RM25 million, and Jan 1, 2026 for businesses with revenues between RM150,000 and RM500,000. The white paper shows that just 30% of them have a full under standing of what e-invoicing entails, and only 31% have fully integrated it in

their business operations. Notably, a significant 19% have yet to even begin implementation. Looking at the specific challenges slowing progress, 55% of SMEs identified a lack of clear understanding of the mandate’s require ments. This was followed by technical and operational

managing director Koren Wines ( pic ). “The good news is that they acknowledge the benefits e-invoicing offers their businesses, and are open and optimistic to act if the process is made easier.” To assist with faster and easier implementation, SMEs identified step-by-step guides

challenges such as having large amounts of data to digitise (49%), concerns about data security and privacy (47%), and limited internal technical expertise (45%). Still, despite these challenges, SMEs are aware of what they ultimately stand to gain from the transition. 69% believe e-invoicing will bring tangible business benefits, with improved recordkeeping (72%),

or checklists (70%), support for integration with existing systems and software (59%), as well as recommendations on e-invoicing solutions (53%) as the resources most needed to support them in their transition. The survey revealed that realities of implementation differ even among SMEs, often dictated by their size, resources and goals. 65% of larger

Petronas Gas posts higher Q1 profit, declares 16 sen dividend KUALA LUMPUR: Petronas Gas Bhd’s net profit for the first quarter of 2025 (Q1’25) rose to RM468.80 million from RM456.65 million a year earlier. Revenue declined to RM1.59 billion from RM1.62 billion previously, mainly attributable to lower revenue from gas transportation and regasification segments following downward tariff adjustment arising from the sharing factor for the prior year’s lower internal gas consumption. In a Bursa Malaysia filing yesterday, the group said its overall performance for the financial year 2025 is expected to remain resilient and stable, notwithstanding the operational disruption caused by the pipeline fire in Putra Heights in April. Petronas Gas said that based on current site conditions and the extent of asset damage – pending the outcome of official investigations – the total financial impact from repair and restoration works is estimated at approximately RM170 million. “A substantial portion of this expenditure will be capitalised as part of the company’s capital expenditure, with partial cost recovery expected from the insurance claim. “Revenue loss attributable to the temporary service interruption is projected to be minimal at approximately RM20 million, driven by close collaboration with regulatory authorities, gas shippers, and distributors that enabled the swift restoration of pipeline services and stabilisation of supply.” It said the total estimated profit impact from both asset restoration and revenue loss is projected to be around RM60 million for the year. Petronas Gas said the group is intensifying its focus on robust risk management, operational resilience and proactive mitigation measures. “We remain firmly committed to maintaining the highest standards of safety and operational excellence, while continuing to pursue disciplined cost management and long-term strategic growth to ensure business continuity and sustainability,” it added. Directors of the company have approved a first interim dividend of 16 sen per ordinary share, amounting to RM316.6 million, payable on June 24. – Bernama

Samaiden wins RM100.75m contract for solar PV plant in Kelantan PETALING JAYA: Samaiden Group Bhd, a renewable energy specialist principally involved in developing and engineering, procurement, construction, and commi ssioning of RE systems and power plants, through wholly owned subsidiary Samaiden Sdn Bhd has accepted a letter of award (LoA) from GVU Fajar Timur Sdn Bhd for EPCC works of a 27.60MWac large-scale solar photovoltaic power plant in Pasir Mas, Kelantan. missioning of the solar PV facility. This project, approved by the Energy Commission in December 2024 under the Large Scale Solar 5 (LSS5) programme, marks another significant milestone in Samaiden’s portfolio of utility scale solar developments. 24, 2027. Samaiden group managing director Datuk Chow Pui Hee said: “We are proud to be entrusted with this project by GVU as part of the LSS5 initiative. This award demon strates our ability to continually deliver high impact renewable energy infrastructure while contributing to Malaysia’s clean energy ambitions.

The project officially commenced yesterday, upon the signing of the LoA, with on-site works expected to begin once all contractual conditions precedent has been fulfilled and the notice to proceed has been issued by GVU. The facility is targeted to achieve commercial operation by July

“Our technical expertise, proven execution capabilities, and focus on sustainability continue to position us as a preferred EPCC partner in the region.”

The RM100.75 million contract entails the full scope of design, engineering, pro curement, construction, testing and com

BPMB, Exim Bank provide financing for Duta Marine FSO project PETALING JAYA: Bank Pembangunan

Malaysia Bhd (BPMB) and Export-Import Bank of Malaysia Bhd (Exim Bank), both part of the BPMB group, yesterday formalised a milestone financing deal with Duta Marine Sdn Bhd for the FSO Permata Dulang Project. In a joint statement, the two banks said this marked their first joint transaction following the merger, reflecting the strengthened synergy and unified strategic direction within the group. They said the financing supports the conversion of an oil tanker into a floating storage and offloading (FSO) vessel. “The new vessel would replace the ageing FSO Puteri Dulang and ensure continued offshore storage and offloading capabilities for the Dulang Field, an oil production site that has been operational for over 40 years,” they said. The facility structure saw BPMB extending RM555 million while Exim Bank contributing US$37 million (RM156 million) in Islamic facilities, to support the oil tanker’s purchase, modification, refurbishment, and mobilisation. “By ensuring continuity of offshore energy operations, the transaction plays a vital role in maintaining infrastructure reliability and supporting long-term national energy resilience,” they said. Exim Bank was appointed as the exclusive arranger to support Duta Marine’s charter contract with Petronas Carigali Sdn Bhd, reflecting confidence in Exim Bank’s capabilities in structuring and coordinating complex financing transactions in strategic sectors. “The project is expected to create jobs

From left: Exim Bank chief business officer Faizah Mustapa, Duta Marine director and shareholder Mahyudden Abdul Wahab and BPMB Mohamed managing director, group corporate & investment banking Nazri Omar after the signing of the FSO Permata Dulang financing agreement.

during both the conversion and operation phases while ensuring the uninterrupted supply chain for Malaysia’s oil and gas exports. “This will subsequently generate economic

spillover effects to key growth regions such as Terengganu and reinforce Malaysia’s standing in the global energy sector,” they added. – Bernama