Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

Malaysia’s Mieco opts for Epicor, becomes fully GST compliant

AvantiKumar | Feb. 26, 2015
Well-structured system and open architecture were among the qualities that helped make the choice, said Mieco's Financial Controller Eric Wong.

Craig Charlton - Epicor Asia Pacific 

Photo - Craig Charlton, Senior Vice President of Epicor's Asia Pacific Operations.

 

Malaysian particleboard manufacturer Mieco Chipboard [Mieco] has chosen Epicor Software Corporation's enterprise resource planning solution - ERP 10 - to become compliant for the new Goods & Services Tax [GST], which will take effect on April 1, 2015.

Mieco's financial controller, Eric Wong, said preparation for the new GST has been an important aigenda item n the closing months of 2014 for Malaysian companies with an annual turnover of RM500,000 [US$138,550] or more.

"Prior to confirming the selection of Epicor, we had spent a fair amount of resources to identify key GST impact points to help us determine the requirements for complete compliance," said Wong, adding that the company has selected Epicor 10 to help achieve full GST compliance as well as enhance business efficiency.

"Among the main features we were looking for was a solution that was user-friendly, with a well-structured yet open architecture, which is able to provide relevant and real-time insights to department team leaders," he said. "After much contemplation, we decided to go ahead with Epicor ERP 10 as it was the best choice for us in meeting our compliance needs as well as business goals in the most cost-efficient manner."

Mieco commissioned its first particleboard production line in 1976, using rubber wood, or now known as tropical oak wood. In a statement, the company said it was also first in Malaysia's wood-panel industry to receive the BS EN ISO 14001:1996 Environmental Management System accredited by Lloyd's Register Quality Assurance and has also attained the certification for the Occupational Health and Safety Management System 18001:1999. The company has three factories located in Semambu, Gebeng and Kechau Tui, Pahang with a combined capacity of more than 900,000 cubic meters per annum.

 GST scramble

During a recent series of Computerworld Malaysia 2015 forecast interviews, Epicor Asia Pacific Operations' senior vice president, Craig Charlton, had warned companies to move from their 'wait-and-see stance'.

"The company foresees companies struggling to meet GST compliance, with the effective date just one month away -- a relatively short amount of time for testing, training, and debugging new accounting systems and software," said Charlton.

"Epicor has already provided a seamless transition for companies in the Asian region," he said. "While there is anxiety among Malaysian companies in the run-up to April 2015," said Charlton. "Our ERP solution is already configured in accordance to Malaysia's GST requirements and it is simple enough that most of our customers can do it themselves with just a few training sessions and instructions provided by Epicor."

Charlton said Epicor ERP offered an end-to-end, industry-specific enterprise software solution that was flexible in deployment, whether on-premises or in the cloud.

He added that the GST features in the ERP system included recording and reporting of input and output GST, claim back of GST on invoices, automatic reporting for government GST returns, creation of GST audit file, and many others. Epicor is already being used in 100 countries and has helped companies meet various tax regimes in Malaysia, Thailand, Indonesia, Philippines and Singapore.

 

Sign up for CIO Asia eNewsletters.