MFRS 15 Seminar – Revenue from contracts with customers

The introduction of MFRS 15 marks a major change in one of the most important topics for financial reporting – revenue recognition. As we enter the second quarter of 2018, companies across all industries would have experienced impact on many aspects of business. Real estate industry players are particularly impacted as they are required to transition from MFRS 111 on construction contracts and IC Int 15 on real estate sales and contend with issues of high complexities.

Join us for a complimentary workshop where our experts will be focusing on MFRS 15 for the real estate industry and sharing their views on the implications of prevailing industry practice, implementation issues and resulting changes to tax treatment.

Agenda

Registration details

• Registration closes on Wednesday, 30 May 2018.
• This seminar is complimentary and seats are confirmed on a first-come-first-served basis.
• The organiser reserves the right to cancel and/or make changes to the programme, venue, speaker(s)/ facilitator(s) and/or topic(s) if warranted by circumstances beyond its control.
• For further enquiries, kindly contact:

Deloitte speakers

Tham Lih Jiun

Real Estate Tax Leader

Lih Jiun is an executive director in our Corporate Tax Division and has more than 20 years of experience in the profession. She undertakes cross border tax structuring, M&A pre- and post-acquisitions advisory, group tax planning and other tax advisory assignments. She specialises in corporate taxation with emphasis on the real estate sector.

Lih Jiun has advised many multi-national companies in Malaysia as well as global conglomerates on various assignments including:

• Advising on the acquisition of a major township development project with estimated GDV of US$36 billion in Kuala Lumpur city centre. The engagement involved due diligence study, post-acquisitions investment and financing structuring, etc.
• Advising in structuring of overseas investments and projects, establishing international procurement and global employment centre.
• Assisting multi-national companies in realigning their business operation in the Asia Pacific region and venturing into new jurisdictions.
• Assisting multi-national companies in structuring their international distribution networks covering Asia and Middle East.
• Advising, preparing and submitting a customised incentive support package to the Ministry of Finance for newly reclaimed lands at Southern Johor, Iskandar Malaysia. The said engagement involves negotiations and discussions with regulatory bodies such as the Iskandar Regional Development Authority, Labuan International Business and Financial Centre and external consultants ranging from quantity surveyors and town planners to business consultants, to seek their input in developing the incentive package which will attract, spur and develop the necessary economic activities and infrastructure within selected locations in the lands. Estimated GDV for the project is US$100billion.

Jimmy Lai

Audit Partner in Real Estate

Jimmy is an audit partner with over 26 years of experience in audit and assurance, financial advisory and consulting services – particularly in the areas of risk management and internal controls. He has been a partner with Deloitte Malaysia for more than 15 years, specialising in statutory audits, M&A transaction services and valuation services. He has extensive experience as a hands-on leader rendering audit and advisory services to clients in the real estate sector, including those listed on Bursa Malaysia.

In his previous capacity as the Head of the M&A Transaction Services and Valuation Services practice, he has led teams serving strategic buyers and private equity investors with due diligence services, advising on investment risks, deal breaking and deal structuring matters, purchase price allocation, merger integration, sales and purchase agreements, financial modelling and valuations. In addition, he has obtained US GAAP Accreditation for audits of subsidiaries of U.S registrants as well as initial public offering in the US.

Jimmy is currently Deloitte Malaysia Clients & Market Leader. Jimmy holds a Bachelor of Commerce (Accounting & Finance) from University of New South Wales, Australia. He is a Chartered Accountant of the Malaysian Institute of Accountants, Fellow Member of CPA Australia, Divisional Deputy President 2018 of Malaysia of CPA Australia. In addition, he is a member of the INTI Education Group Industry Advisory Board (Laureate International Universities).

Izzad Shamsudin

Audit Partner

Izzad has more than 10 years of experience in the public accounting practice. Prior to joining Deloitte, he was Head of Finance and ICT in a multinational company and a Senior Audit Manager in another audit firm.

Izzad’s clients include small and medium enterprises (SMEs) and multinational and public-listed companies from various industries including banking and financial markets, manufacturing, retail, media and commerce. He also has extensive experience with clients from the banking sector and government-linked companies (GLCs).

He was also a manager in an advisory practice specialising in banking and capital markets. His advisory exposure includes being a programme manager and advisor for the setup of the Islamic Banking Window of a foreign bank, facilitator and content developer for a senior management strategy retreat for a leading development financial institution and manager for a simulation exercise involving a bank failure for a leading statutory body.

He is a member of the Institute of Chartered Accountants in England and Wales (ICAEW) and the Malaysian Institute of Accountants (MIA) with a degree in accounting science from Cardiff University, United Kingdom.