Free Malaysia Today
At odds over ringgit trading in S'pore
The Star Online
ALTHOUGH the Singapore Stock Exchange (SGX) and the republic's Intercontinental Exchange (ICE) launched the ringgit futures trade last month, Bank Negara Malaysia (BNM) chose to protest against this unfriendly move on Aug 9 – Singapore's national ...
Ringgit to trade between 4.27 and 4.28 versus greenback next week
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KL issues warning over offshore futures trading
The trading community in Malaysia is a vibrant one. Comprising not only traders, manufacturers, importers, exporters, forwarders, shipping agents, warehouse and depot operators; it also includes transport and logistics community, banking and insurance agencies as well as Asean and international links. Smooth communications is key for this community to run business efficiently.
However, manual processes and the need to duplicate documents for the approval of different agencies and authorities often slow down operations within the trading community. A one-stop centre for all transactions, myTRADELINK, eliminates this situation.
myTRADELINK is Malaysia's trade facilitation portal that connects trading communities with the relevant government agencies and also other businesses involved in global trade and logistics. An initiative of the Malaysian Government, led by the Ministry of Finance of Malaysia - and operated by Dagang Net Technologies Sdn Bhd, it is a single platform where the trade community can exchange documents required to fulfil regulatory trade processes for import, export or transit - anytime, anywhere via the Internet.
The exchange of electronic trade documents between the public and private sectors of the trade and logistics community are safe, secure and efficient through this single connectivity access. All required documents can be prepared, submitted, applied for, and even approved online at one single point - eliminating the need for manual transactions. Apart from facilitating trade transactions, myTRADELINK serves as a trade information hub and allows users to streamline their transactional activities.
Traders, manufacturers, importers, exporters, forwarders, shipping agents, warehouse and depot operators, transport and logistics community, banking and insurance agencies as well as Asean and international links stand to gain many benefits from MyTRADELINK. Among them are a significant reduction of manual paperwork and physical processes; and the convenient reusability of data and information that reduces the unnecessary keying in of the same data or information more than once.
Users of myTRADELINK will also benefit from the increased efficiency of data processing, release and clearance of cargo. The approval process through the various myTRADELINK services is transparent - allowing for peace of mind and reliable expectations for the next course of action.
With myTRADELINK, the trade community is converged through one single window; making completing trade processes a breeze!
Prepare and submit electronic Customs Declarations online.
Prepare and submit Customs Duty payments via Electronic Funds Transfer, Duty Net and FPX .
Shippers and shipping agents can submit vessel and cargo manifests to the respective authorities here.
Apply for permits from relevant Permit-Issuing Agencies and obtain approval online.
Apply for Preferential Certificate of Origin from the Ministry of International Trade and Industry (MITI) and obtain approval online.
Apply for and get pre-registration and permits under the purview of the Strategic Trade Act 2010 online.