Sam Chay This is Me

 Web References

1. 1. ChamberBiz.com

   chamberbiz.yellowbrix.com/page - [Cached]

   Published on: 12/14/2002   Last Visited: 12/16/2002

   Commenting on the matter, Ernst & Young tax consultant Sam Chay said that with rationalisation, the leasing companies can transfer one of their business operations (leasing or non-leasing) to a new company.
   
   "In this way, the issue of allocation of common expenses would not arise once there are two companies dealing with only one business source within the company," he said.
   
   Currently, Aflam has a membership of 36, of which 30 are leasing companies or lessors, three licensed finance companies, two development finance institutions and one equipment vendor.
   
   Leasing companies are classified as scheduled institutions under the Banking and Financial Institutions Act 1989, or Bafia.
   
   The total cost of assets acquired through leasing and industrial hire purchase was RM4.12 billion in 2000, representing a 371.2 per cent growth when compared with RM1.11 billion in 1989.