BalPartners_Group_Corporate_Profile_2020

OUR CAPABILITIES
PROFILE

AUDIT | ASSURANCE | ADVISORY
INSOLVENCY | TAXATION
ACCOUNTING

ESTABLISHMENT  THE FIRM’S BACKGROUND
 OUR GROUP COMPANIES
In the light of the rapid changes in global legislative
a n d e c o n o m i c c o n d i t i o n s i n ye a r 2 0 1 0 , B a l t a s a r, a f t e r h i s  OUR TEAM
resignation from one of the leading international  OUR PROFESSIONAL STANDARDS
affiliated chartered accountants firm in Malaysia,
where he worked for approximately 10 years,  OUR RANGE OF SERVICES
resolved and decided to pursue his own professional  OUR EXPERIENCES
practice as chartered accountant. It was on 20 October  APPENDIX
2010, that his practice was officially formed and
registered as a Chartered Accountants Firm with
Malaysian Institute of Accountants (MIA) under the name
of BAL & PARTNERS (“the Firm”).

GROWTH

The philosophy of the Firm is to grow with its clients
through the provision of personal advice, consultancy
and high quality professional services. One important
link between the Firm and its clients is the inter-linked
growth that both enjoy. Through the provision of high
q u a li ty, p ers onalised ser vic e, our c lie nts have e n j oye d
tremendous growth. This growth has in turn contributed
to our own growth, in term of staff, locations, expertise
and specialist departments. Our growth, in turn, places
us in a better position to offer higher quality service to
o u r c l i e n t s . C ur re n t l y, we a re ex p e r i e nc i n g a s t e a dy
growth in our clientele and staff strength. This is
indicative of the growth that both we and our clients
enjoy.

OUR GROUP COMPANIES

BUSINESS PISON & BAL & BOARDROOM
PROSPECT PARTNERS PARTNERS ADVISORY
SDN. BHD. SDN. BHD.
• ACCOUNTING • AUDIT &
• COMPANY SERVICES ASSURANCE • CORPORATE
SECRETARIAL ADVISORY &
SERVICES RECOVERY
• TAXATION • LIQUIDATION
SERVICES

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OUR TEAM

Baltasar bin Maskor, Managing Partner / Liquidator

• Approved Company Auditor and Liquidator under Section 263 and
433 Companies Act, 2016 and Malaysian Institute of Accountants
(“MIA”).

• Hold licenses under Labuan Financial Services Authority (“LOFSA”)
and Suruhanjaya Koperasi Malaysia.

• Approved Tax Agent under Section 153(3) Income Tax Act, 1967.
• Partner in charge for RM4.7 billion PKFZ loan restructuring exercise.
• Director/Partner in charge for statutory audit Kewangan Bersatu

Berhad, Tradewinds Group, PKNS Group, MARA Group and RISDA
Group.
• Responsible in preparing Accountants Report for Reverse Take Over
(“RTO”) exercise of Chin Foh Berhad.
• Extensive experience in all aspects of Corporate Recovery &
Insolvency.

OUR TEAM

Muhammad Sanusi bin Ismail, Partner

• Approved Company Auditor under Section 263 of the
Companies Act, 2016.

• Approximately 12 years of professional experience in
public practice.

• Involved in various number of statutory audit of public
listed companies, audit of government
agencies/corporations, as well as corporate exercises such
as financial due diligence review, investigative audit and
corporate restructuring.

OUR TEAM

Johari bin Yazid, Principal

• Approximately 20 years of professional experience in
public practice.

• Involved in various number of statutory audit of public
listed companies, audit of government
agencies/corporations, as well as corporate exercises such
as financial due diligence review, investigative audit and
corporate restructuring.

• Extensive experience in all aspects of Corporate Recovery
& Insolvency.

OUR TEAM

Mohd Shukri Suhari, Director (Business Prospect Sdn. Bhd.)

• Approved Company Secretary under Section 241 of the
Companies Act, 2016.

• Chartered Accountant pursuant to Section 15 the Accountant
Act, 1967 (Revised 1972).

• Approximately 12 years of professional experience in public
practice.

• Involved in various number of statutory audit of public listed
companies, audit of government agencies/corporations, as well
as corporate exercises such as financial due diligence review,
investigative audit and corporate restructuring.

OUR TEAM

Pison Abidin, Director (Business Prospect Sdn. Bhd.)

• Approved Company Secretary under Section 241 of the
Companies Act, 2016.

• Chartered Accountant pursuant to Section 15 the Accountant
Act, 1967 (Revised 1972).

• Approximately 16 years of professional experience in public
practice.

• Director/Partner in charge for preparation of financial
statements for several companies under MOF incorporated.

• Involved in various number of corporate industries related to
accounting, secretarial and taxation services.

OUR PROFESSIONAL  Personal service;
STANDARDS  Quality control;
 Cost-effective service:
10  Training;
 Industry knowledge;
 Recruitment;
 Professional

standards; and
 Confidentiality and

secrecy.

OUR PROFESSIONAL STANDARDS

• Personal service

 One of the features that set our Firm apart from other practices is the personal quality of service that we provide to our clients. We minimise the bureaucracy
that is so prevalent in other firms where the clients never get to speak to the partners or the qualified senior personnel of those firms. It is our practice that the
partners and the qualified senior personnel of our Firm avail themselves on a personal “on-call” basis to our clients. In this manner, the close personal
relationship enables qualified, experienced service to be imparted to our clients.

• Quality Control

 It is our Firm’s policy that all assignments are headed by an experienced partner. He is the person who applies his professional skills and experience on the
assignment and makes the necessary decisions to ensure the proper completion of the engagement. He is assisted by a manager and a supervisor and a team
of assistants headed by a senior. To ensure the production of work of a high quality, the partner, manager, supervisor and senior are all qualified accountants
and professionals who are highly experienced. The managers in the Firm have at least seven years’ experience and the seniors, a minimum of four. Work is
planned and reviewed at every stage by qualified and experienced accountants, with the partner being responsible for the overall review of the whole
assignment. Further, on large assignments, it is our policy that the work is reviewed by a second partner. This is to ensure that the work performed has the
benefit of the input of at least 2 experienced partners. The process of involving partners at every stage of the work, and not only at the final stages, ensures
that the high quality of our work is maintained. This process also enables us to offer constructive and independent ideas to our client. Further, a second partner
review ensures that those closest to the engagement do not inadvertently overlook anything and would preserve our standards of professionalism and
independence.

• Cost Effective Service

 Involving partners and qualified accountants at every stage of the work brings to bear their wide experience directly on engagements the Firm performs. By
making decisions at every stage keeps work down to a minimum, thus incurring savings for our clients. Further, we constantly seek more efficient methods of
serving our clients without diminishing the quality of our services. In our audit assignments, we employ a SYSTEMS-BASED approach, statistical sampling
techniques, etc. to reduce the number of professional hours otherwise required with traditional auditing methods. Again, savings from this efficiency is passed
on to our clients.

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OUR PROFESSIONAL STANDARDS

• Training

 We recognise the need to provide the highest quality service to our clients through the services of well-trained and qualified accountants. As such, our Firm
spends a high percentage of its annual budget in training its staff. These include courses, seminars, talks and structured in-house training on auditing and
industry matters for from the various professional bodies, which include:-

 Malaysian Institute of Accountants (MIA)
 The Malaysian Institute of Certified Public Accountants (MICPA)
 The Institute of Chartered Accountants in England & Wales (ICAEW)
 The Association of Certified Chartered Accountants (ACCA)
 The Malaysian Institute of Taxation
 The Malaysian Institute of Chartered Secretaries and Administrators (MAICSA)

 Our qualified staff and partners are also required to meet post-qualifying Continued Professional Education (CPE) requirements in order to update themselves
on technical matters so as to be able to serve our clients better. In this respect, the Firm requires the senior personnel and the partners to meet the CPE targets
imposed by the respective professional bodies of which they are members. In addition to this, the Firm requires these personnel to meet Firm targets by way of
attendance and participation at conferences, seminars, talks and schools organised by professional bodies locally and, on an international level. These activities
cover topics currently of importance to the profession or specific industries of which our clients are involved in. In this way, our personnel are constantly kept in
touch and their skills upgraded to position themselves better in the quality of service afforded to clients.

 Other than that, the Firm requires its partners and senior personnel to participate in conferences, seminars and talks as speakers, lecturers or tutors as the
process of preparation and delivery at these conferences etc. is an education process by itself. These are often organised for in-house purpose, professional
bodies or for our clients

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OUR PROFESSIONAL STANDARDS

• Industry Knowledge

 We recognise that it is imperative that we are knowledgeable of the industries that our clients are involved in. As such, we make it a policy that our staff learn and do
research on the industries that we audit and to compile the necessary dossiers on every new field we enter into. These are referred to and updated regularly as there is a
need to keep up to date with developments in the specific industries so as to enable us to be better able to serve our clients.

• Recruitment

 Perhaps our biggest asset is our staff. Recognising this, we have always placed a very high importance on our recruitment strategies. We have always concentrated on
recruiting people who have displayed the correct qualities that would enable them to become high calibre accountants. Only people of this quality would be recruited to
work on our professional engagements. We realise that only through high calibre personnel are we able to provide high quality services to our clients.

• Accounting and Auditing Standards

 The Firm adopts MASB Approved Accounting Standards and International Auditing Standards/Approved Standards on Auditing in Malaysia in its professional engagements.
In addition, it follows closely the standards, bulletins and guidelines issued by the MIA. Apart from these, the Firm also follows other auditing and accounting related
pronouncements generally accepted internationally. Aided by these, the Firm ensures the provision of internationally recognised standards in its work done for clients.

• Confidentiality and Secrecy

 The Firm imposes upon itself a high level of confidentiality and secrecy on all client matters. Partner, advisors, directors, managers and staff of the Firm have to attest to an
undertaking on this matter and are continually reminded of this undertaking. While on field assignments, it is our policy to identify key client personnel and only to restrict
discussion of sensitive matters to such identified personnel. Our staff will not be allowed to discuss such matters with other client personnel. On our part, we identify our senior
personnel who are allowed to discuss certain sensitive issues with the identified key client personnel. Other staff of ours would be prohibited from access to such information
and are informed on a need-to-know basis.

 Our clients’ files are always locked up other then when in use by the designated personnel. As and when the need arises, the Firm uses safe deposit boxes in banks to
safeguard files and sensitive documents. Files from previous years are stored away from the office at a location only known to the partners and designated senior personnel.

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OUR PROFESSIONAL STANDARDS

• Partners and Advisors

 Partners and advisors have extensive experience in professional practice including international experience. The Partners holds licences
under the Companies Act, 2016, and is a member of professional accountancy bodies in Malaysia. We subscribe to the high standards
of their professional bodies and have imposed similar demanding standards on the services offered by the Firm. The Partners and
Advisors are experts in various fields in their own right. Each has had international experience, both overseas and Malaysia with clients
of varying sizes and business. Their range of experience include auditing, management and tax consultancy, receivership and
management, computer consultancy and other ancillary professional areas. The partners have also spent considerable time in
government, commerce and industry, at various levels of management. With the vast professional experience, the partners have
achieved, they bring to the Firm this pool of experience and expertise which they bring to bear on the assignments performed by the
Firm.

• Office Locations

 The Firm operates principally from its offices at Shah Alam, Selangor Darul Ehsan, Kota Kinabalu and Labuan, Sabah. The Firm does not
operate with numbers of branches and associates to ensure the maintenance of high standards of work.

• Staffing

 The Firm has in its employment at present about fourty (40) qualified professional staff, in both offices. The Firm policy as regards staff
recruitment is that new recruitment will only be effected in line with the growth of the Firm whilst keeping the present level of staff as
optimum. Currently, the Firm is in the process of recruiting various personnel to meet its expansion needs in the various departments.

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OUR RANGE OF SERVICES

Financial Consultancy | Audit Assurance | Corporate
Recovery & Insolvency | Business Advisory | Taxation |
Forensic Accounting & Investigation

OUR RANGE OF SERVICES

• Auditing

 This is a service that is widely provided in all public accounting firms and usually forms the backbone of public
accounting firms. Auditing department is the largest department. Its clients include plantation, housing
developers, shipping, trading, construction and manufacturing companies, co-operative societies and many other
industries and businesses.

• Accounting

 Being a public accounting firm, it is only natural that this service be extended to its clients either on a full-time or
part-time basis. The Firm not only writes up the books of its clients but also provides advice on accounting
systems best suited to the clients’ business. This involves the setting up of an accounting system with the
necessary internal controls with the main objective of achieving efficiency, accuracy and security. It is not the
Firm’s policy to write up client’s books of accounts perpetually but rather until such time where it is economically
feasible for the client to engage a full-time staff or if the service is so sought, to train the clients’ staff until they
are competent enough to maintain full records of the clients’ accounts.

• Tax Services

 Our tax professionals offer clients a unique mix of tax expertise and business awareness. As in the other areas
of our practice, we believe a sound understanding of the clients’ business goals and objectives is essential for us
to identify intelligently their needs and act as a catalyst in identifying innovative tax planning opportunities.

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OUR RANGE OF SERVICES

• Apart from audit-related services such as reviewing the adequacy of provision for income taxes and reviewing tax returns for any open
years to identify areas of potential exposures or areas where refunds might be claimed, we provide other tax services such as:-

 preparation of income tax computations and supporting schedules for submission to the Inland Revenue Board;
 applying for and making payments of tax including withholding tax to the Director General;
 attending to any tax queries raised by the Inland Revenue Board in the course of finalising the tax assessments;
 filing appeals against any excessive assessments;
 requesting for refunds of any tax overpaid;
 tax compliance work such as reviewing statements of income of the company’s employees prior to submission to the Inland Revenue Board, filing the employer’s

return Form E, filing notification of commencement and cessation of employment of the company’s employees, obtaining tax clearance etc;
 assisting our clients in applying for tax incentives e.g. pioneer status and
 investment allowance;
 compliance and consulting work on Real Property Gains Tax;
 assisting clients in areas where tax can be minimised within the existing law and practice;
 identifying alternatives available to clients in restructuring and reorganising their group of companies;
 describing the tax consequences of each alternative in any tax planning scheme and assist in weighing the comparative advantages and disadvantages of

each alternative;
 alerting clients of any tax exposure to their companies and assist in finding solutions to overcome or reduce the exposure;
 advising on any tax ramifications that may arise from making any business decision;
 reviewing any tax returns prepared by client’s accountants; and
 advising on any general tax matters that may arise from time to time.

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OUR RANGE OF SERVICES

• Receiverships

 The members of the team have experienced assignments with several major banks and financial institutions. Most receivership
cases are appointments from banks that are debenture holders having a charge on the assets of the respective companies to
whom they have extended their loan facilities. The team has also managed several of the companies placed under its care
where appointment was made as Receiver and Manager. The types of business which the team has managed as Receiver and
Manager includes chemicals, dye and fertiliser manufacturers, paint manufacturers, timber processing factory, a cinema, copper
wire manufacturers, disposable syringe manufacturers, palm oil refinery, printing press etc to name a few.

• Liquidations

 The members of the team have also handled several cases of company liquidations. Requests are sometimes made by company
directors to have their companies liquidated as they see no purpose in continuing the business further. In some cases, these are
undertaken for creditors when a company is in a state of financial crisis. A controlled liquidation can often result in businesses
being saved for the benefit of proprietors, creditors and staff.

• Secretarial Services

 This service is provided to maintain and update statutory records of companies. Such service includes company formation, filing
of statutory forms, attending meetings and preparation of minutes, advising clients regarding company secretarial matters etc.
This department is set up essentially to assist the Firm’s clients in meeting their statutory requirements with the Registrar of
Companies.

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OUR RANGE OF SERVICES  Others
 Corporate planning and advice on capital
• Management consultancy restructuring;
 Share valuation of unlisted companies; and
 Design of systems  Accountant’s Report for inclusion in prospectuses.
 Financial accounting systems;
 Management accounting systems; and • Investigations
 Administration systems, etc.
 These are usually special assignments requested
 Business planning and appraisal by clients and cover a wide range of activities, the
 Company appraisals; usual being:-
 Organisation and corporate planning;  Detection of suspected fraud;
 Management audit; and  Purchase and sale of business; and
 Merger and acquisition studies, etc.  Investigation into the company’s statement of
affairs
 Finance
 Financial controls;
 Project evaluation;
 Cost reduction planning; and
 Profit improvement programmes, etc.

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OUR RANGE OF SERVICES

• Feasibility Studies

 Feasibility studies can be made on new projects, new product lines, new investments and an assessment made on prospects,
desirable locations, taking into account not only marketing and purchasing requirements, but also fiscal considerations.

• Staff Recruitment

 Recruitment of staff can be undertaken by the Firm especially for executives and top management staff. The Firm can advise on
the terms of engagement and assessment of suitability.

• Computer Selection and Operation

 This is an increasingly important aspect of day to day business activity. The wrong choice of a computer or the poor operation
of a computer can create a disastrous impact. We can advise on the proper selection of a computer for the particular activity
required and can also provide operational plans and assist where there are operational difficulties. An independent view is
obtained quite distinct from that of a computer company wishing to sell a computer.

 Services in this area include:-
 Feasibility studies on the viability of having a computer based system and whether to have an in-house system or to engage the use
of computer service bureau;
 Advice and design of computer based accounting systems; and
 Advice on security for computer hardware and software.

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OUR RANGE OF SERVICES

• Business Information

 Business information can be provided both from local sources as well as from international sources. General
information will probably be already available. Where clients require specific information, arrangements can
be made for this to be secured on a short or long term basis.

• Human Resource

 Human resource is another area where the Firm also provide the service. It sometimes happens that certain
companies are not able to recruit the required management expertise immediately. Recruitment of the right
calibre staff may prolong for quite some time and companies are not able to fill in the vacancy in good time
thus creating a vacuum in the department concerned. The Firm has in the past been appointed as management
accountants, financial consultants and internal auditors by certain companies to take charge of the relevant
departments during the interim period until such time as when recruitment of the right calibre staff materialises.

• General

 Generally, the above is a selection of the services that can be provided by the Firm. However, it is not
exhaustive and we are at all times ready to work with clients in all areas of their activities where the
involvement of a public accountant is considered to be of assistance.

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OUR EXPERIENCES

OUR EXPERIENCES

• Our experience is wide and varied which comprise of profit and non-profit organisations,
cooperative, and government agencies from various industries range from plantations, property
development, shipping, construction, manufacturing, investment holding, banking, trading etc. Our
experience not only includes auditing their accounts but also consultancy, tax advisory,
restructuring, profit improvement programmes, management assistance etc.

• Some of the major clients our team have served and handled in Malaysia for various engagement
and exercises which had entail high degree of project management and comprehensive reporting
requirements are as follows:-

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PROFESSIONAL SERVICES RENDERED  Company/Corporation Name

ASSURANCE ENGAGEMENT /  Tradewinds (M) Berhad
STATUTORY AUDIT  Nepline Berhad
 Prinsiptek Berhad
24  Magna Prima Berhad
 Kewangan Bersatu Berhad
 Majlis Amanah Rakyat (“MARA”)
 Yayasan Sabah (“YS”)
 Perbadanan Kemajuan Negeri Selangor (“PKNS”)
 Sabah Economic Development Corporation

(“SEDCO”)
 Dewan Bandaraya Kota Kinabalu (“DBKK”)
 Rubber Industry Smallholders Development

Authorities (“RISDA”)
 Perbadanan Kemajuan Pertanian Selangor

(“PKPS”)
 Koperasi Kakitangan Petronas Berhad

(“KOPETRO”)
 Koperasi Kakitangan Bank Rakyat Berhad

(”SEKATARAKYAT”)

PROFESSIONAL SERVICES RENDERED  Company/Corporation Name

INITIATING & IDENTIFYING INTERNAL  LGM Corporation
CONTROL DEFICIENCIES AND SUBSEQUENT  University Hospital
 PKPS
FOLLOW UP REVIEW ON FIXED ASSET
IDENTIFICATION AND TAGGING EXERCISES

INVESTIGATIVE AUDITS AND FORENSIC  RISDA Group
ACCOUNTING EXERCISES  Algotech (M) Sdn Bhd

RESTRUCTURING / REVERSE  Lembaga Pelabuhan Klang – PKFZ Loan
TAKEOVERS  Padiberas Nasional Berhad (“BERNAS”)
 Tradewinds Group
MERGER TAKE-OVER  Chin Foh Berhad
 PKPS Group
25  AIC Corporation Berhad
 Cosmo Restaurants Sdn Bhd (“BURGER KING”)

PROFESSIONAL SERVICES RENDERED  Company/Corporation Name

EXPERIENCE WITH GOVERNMENT  Majlis Amanah Rakyat (“MARA”)
CONTROLLED BODIES / AGENCIES  Yayasan Sabah (“YS”)
 Perbadanan Kemajuan Negeri Selangor (“PKNS”)
26  Sabah Economic Development Corporation (“SEDCO”)
 Sustainable Energy Development Authority (“SEDA”)
 Lembaga Kemajuan Perhutanan Negeri Sabah

(“SAFODA”)
 Koperasi Pembangunan Desa Sabah (“KPD”)
 Lembaga Pelabuhan Klang
 Lembaga Pelabuhan-Pelabuhan Sabah
 Universiti Putra Malaysia
 Rubber Industry Smallholders Development Authorities

(“RISDA”)
 Dewan Bandaraya Kota Kinabalu (“DBKK”)
 BANK RAKYAT
 Construction Industry Development Board (“CIDB”)
 Perbadanan Kemajuan Pertanian Selangor (“PKPS”)
 Universiti Malaysia Sabah
 Malaysian Agricultural Research Development Institute

(“MARDI”)
 Maktab Koperasi Malaysia (“MKM”)
 Perbadanan Aset Keretapi (“PAK”)

PROFESSIONAL SERVICES RENDERED  Company/Corporation Name

WINDING UP / LIQUIDATION  Fernline Construction Sdn Bhd (Court)
 Abadi Utama Global Sdn Bhd (Court)
27  Mitisa Holdings Sdn Bhd (Court)
 Lama Tile (Timur) Sdn Bhd (Court)
 Alcim Holdings Sdn Bhd (Court)
 Alcim Sdn Bhd (Court)
 Armada Hijau Sdn Bhd (Court)
 Matheng Sdn Bhd (Court)
 Pharma Exel Sdn Bhd (Court)
 MAIS Food Industries Sdn Bhd (Creditors)
 Prima Inland Sea Resort Sdn Bhd (Creditors)
 Noel Gifts Malaysia Sdn Bhd (Creditors)
 Wong Kwok Group of Companies (Members)
 Hap Seng Group of Companies (Members)

PROFESSIONAL SERVICES RENDERED  Company/Corporation Name

RECEIVER / MANAGER / MONITORING  Intan Mutiara Sdn Bhd (Bank Rakyat)
ACCOUNTANT  Ordyn Technologies Sdn Bhd (MDV)
 BTS Tools Manufacturing Sdn Bhd (MDV)
FINANCIAL DUE DILIGENCE /  Dynamic Holidays Cruise Sdn Bhd (SME Bank)
SHARE VALUATION  Lipis Centrepoint Hotel & Apartments Sdn Bhd (SME Bank)

28  Durammit Sdn Bhd (PNS) Valuation
 Able Meridian Logistic Sdn Bhd
 Corrtrol Venture Sdn Bhd
 UQ Holiday Sdn Bhd
 Cito Group of Companies
 Ascendsys Sdn Bhd
 JZ Advanced Composites Sdn Bhd
 Cosmo Restaurants Sdn Bhd

APPENDIX

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Shah Alam HQ Kota Kinabalu Office

28-2, Jalan Opera G U2/G, 6.01, Level 6, Menara MAA,
Taman TTDI Jaya, Lorong Api-Api 1,
40150 Shah Alam,
88000 Kota Kinabalu,
Selangor Darul Ehsan, Malaysia. Sabah, Malaysia.
T: +603-7846 2001 T: +6088-277501
F: +603-7846 7001 F: +6088-278502

E: [email protected] Labuan Office
W: www.bal-partners.com
Unit No. 3A-13,
CONTACT US Level 3A, Room Alpha,
Labuan Times Square,
87000 W.P. Labuan, Malaysia.
T: +6088-277501
F: +6088-278502