11/05/2026

BIZ & FINANCE MONDAY | MAY 11, 2026

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Mistakes businesses are making with e-invoicing

CAAM enhances efficiency, says Malaysia’s airspace operations resilient KUALA LUMPUR: Malaysia’s airspace operations remain resilient in handling high volumes of regional air traffic, underscoring the country’s role as a key aviation con nectivity hub in Southeast Asia, according to the Civil Aviation Authority of Malaysia (CAAM). In a statement, CAAM said it continues to strengthen airspace efficiency within the Kuala Lumpur Flight Information Region (KL FIR) and Kota Kinabalu Flight Information Region (KK FIR) amid evolving global airspace dynamics and increasing operational com plexity. Regional traffic data showed that Kuala Lumpur International Airport (KLIA) remains among the busiest airports in Southeast Asia, supported by several of the region’s most heavily travelled routes. CAAM said key corridors such as Kuala Lumpur-Singapore, Jakarta-Kuala Lumpur and Kota Kinabalu-Kuala Lumpur continue to record high flight frequencies. “This underscores Malaysia’s strategic role in maintaining regional connectivity and ensuring the continuity of air travel across Asean,” it said. The authority said continuous improve ments in airspace design and air traffic management have enabled both KL FIR and KK FIR to accommodate growing traffic volumes while maintaining high standards of safety, efficiency and reliability. These include the implementation of Required Navigation Performance Approach (RNP APCH) procedures at KLIA, as well as full Performance-Based Navigation (PBN) Stan dard Instrument Departure (SID), Standard Terminal Arrival Route and RNP APCH procedures in the Kota Kinabalu FIR. CAAM said the measures enable more precise routing, reduced track miles and improved arrival and departure efficiency. It added that the expansion of Direct Route Operations and User Preferred Routes allows aircraft to operate on more efficient and flexible flight paths, reducing con gestion, flight times and fuel consumption. Enhanced cross-boundary coordination also supports more adaptive routing in response to changing operational con ditions. CAAM said the adoption of advanced air traffic management concepts such as System Wide Information Management and Flight and Flow Information for a Collaborative Environment enables real-time data sharing, improves predictability and supports more effective collaborative decision-making across the aviation ecosystem. Advancements in Performance-Based Communication and Surveillance have also enhanced operational capacity by ena bling more efficient aircraft separation while maintaining high safety standards, it said. It further noted the efficiency of KL FIR and KK FIR as critical to supporting one of Southeast Asia’s busiest aviation networks, with KL FIR serving as a central node for major regional routes and KK FIR strengthening connectivity across East Malaysia while supporting growing cross border traffic flows. – Bernama

MALAYSIA’S e-invoicing regime, which commenced on Aug 1, 2024, is no longer merely a “future compliance” exercise. Today, the majority of medium and large businesses are already within the system. Most taxpayers now understand the basic mechanics of e-invoicing. They know how to issue an e-invoice, validate transactions and use the MyInvois platform. However, many businesses are adopting their own interpretations and practices which may not necessarily comply with the requirements issued by the Inland Revenue Board (IRB). This is where taxpayers need to be extremely careful. A practice which may appear operationally convenient may amount to non compliance under the e-invoicing framework. During an audit or review exercise, the IRB will not merely examine whether an invoice exists, but will also assess whether the transaction was treated correctly under the applicable e invoicing guidelines and rules. IRB already using e-invoice data The IRB now has unprecedented visibility over business transactions and is able to analyse data on a real-time basis. Recently, the IRB announced that reviews conducted using e invoice data uncovered RM3.5 billion of previously unreported income involving 38,906 taxpayers, with RM760.7 million in taxes payable. The authorities also disclosed that since the implementation of e-invoicing began, more than 225,000 taxpayers have issued about 1.3 billion e-invoices nationwide. PETALING JAYA: Meta Bright Group Bhd, through wholly owned subsidiary Meta Bright Energy Sdn Bhd (MBESB), has entered into a conditional subscription agreement to acquire 51% equity interest in Bumidotearth Sdn Bhd. The acquisition marks Meta Bright’s evolution from a pure-play energy asset investor into a fully integrated energy solutions platform. By securing a controlling stake in Bumidotearth, Meta Bright internalises specialised engineering, procurement, construction, and commissioning (EPCC) capabilities, enabling the group to participate directly across the full project lifecycle – from infrastructure development and execution to long-term monitoring and maintenance. Bumidotearth specialises in deploying proprietary dynamic control drive (DCD) hardware and Enerlytics Internet of Things dashboards, delivering high-performance, variable-speed heating, ventilation and air conditioning (HVAC) optimisation for commercial and industrial buildings. Meta Bright corporate and strategic planning executive director Derek Phang Kiew Lim said, “This acquisition is a strategic game-changer for our energy platform. The pilot deployment has demonstrated encouraging commercial viability for demand-based HVAC optimisation. The logical next step was to internalise the technical execution capability required to aggressively expand the deployment footprint nationwide . Energy efficiency is rapidly becoming an operational imperative for commercial building owners grappling with rising electricity costs. By bringing Bumidotearth’s proven technology and EPCC expertise in-house, Meta Bright is now uniquely positioned to provide end-to-end, zero-capex solutions. We are combining capital funding, proprietary technology, and long-term

charges, director-related expenses, staff claims and cross-border payments. Risks may surface much later The danger is that many of these issues may only surface years later during a tax audit exercise. At that stage, the exposure may not merely involve technical corrections, but businesses may potentially face penalties of up to RM20,000 per offence for non-compliance. What businesses must understand is that the current cases detected are probably only the tip of the iceberg. As the IRB’s data analytics capabilities become more sophisticated, more discrepancies and unusual transaction patterns are likely to be identified over time. Businesses should therefore take the opportunity now to carefully review their e invoicing practices, especially where temporary workarounds or operational shortcuts were adopted during implementation. Review and regularise before an audit If weaknesses or errors are identified, it is absolutely important to regularise the position voluntarily before the authorities commence an audit review. IRB will be accommodative where taxpayers proactively come forward to correct mistakes and make voluntary disclosures.

The provided implementation deferments and relaxation measures for smaller businesses to ease the transition. Businesses with annual turnover below RM1 million are currently exempted, while taxpayers with annual government has

turnover between RM1 million and RM5 million have been granted a deferment until Dec 31, 2027. However, this should not be misunderstood as a relaxation of enforcement for taxpayers who are already within the system.

Common mistakes businesses are making One major issue relates to the misuse of self billed e-invoices. There appears to be an increasing tendency for taxpayers to resort to self-billing whenever suppliers are unable or unwilling to issue e-invoices, or where supporting documentation is incomplete. However, self-billed e-invoices are only permitted in specific circumstances prescribed under the guidelines. They are not intended to be used merely because supporting documents are unavailable or because operational challenges arise. Another common mistake involves the incorrect use of consolidated e-invoices. Some businesses continue consolidating transactions beyond the relaxation period which may no longer qualify under the guidelines, particularly for transactions where consolidated e-invoices are not permitted, such as transactions exceeding RM10,000. Errors are also commonly seen in transactions involving balance sheet items such as deposits, reimbursements, intercompany

The real challenge with e-invoicing is no longer implementation, but ensuring that the treatment adopted is technically correct, defensible and fully compliant. This article is contributed by Thannees Tax Consulting Services Sdn Bhd managing director SM Thanneermalai (www.thannees.com). Meta Bright takes controlling stake in Bumidotearth

Phang says the acquisition is a strategic game-changer for Meta Bright’s energy platform.

periods. Based on the guaranteed average annual PAT of RM500,000, the acquisition was executed at a highly competitive implied price to-earnings multiple of 4.0 times. Meta Bright intends to leverage Bumidotearth’s engineering expertise, DCD Technology, and digital monitoring capabilities to strengthen the group’s position within the energy optimisation and sustainable infrastructure sector, while expanding deployment opportunities across the commercial, retail, hospitality, healthcare, and institutional segments.

execution to build a highly recurring, high margin energy solutions business.” The acquisition injects immediate, high-quality earnings visibility into the group. Bumidotearth brings an active order book of 10 ongoing projects valued at RM4.1 million, with an established deployment history at premier sites including shopping malls, hospitals, hotels, and grocery shops. The transaction includes a firm profit guarantee of RM1.5 million in aggregate profit after tax (PAT) over three consecutive 12-month