by | Mar 7, 2025 | Business
Multibook Limited (Headquarters: Shinagawa, Tokyo; CEO: Tadaaki Murayama) announces that its global cloud ERP service multibook now supports e-Invoice, a national requirement in Malaysia.
With this, businesses can use multibook to apply for certification of electronic invoices in batches through multibook on MyInvoisPortal, the Malaysian tax authority’s web application.
- About Malaysia’s e-Invoice System
Aiming to enhance tax regulation efficiency and improve transaction transparency, Malaysia has introduced the e-Invoice system in phases, beginning in June 2024. Under this system, invoice issuers must electronically submit transaction details to the tax authority for authentication. Implementing e-Invoice is mandatory for all businesses from July 1, 2025, making compliance a pressing issue.
There are two primary methods for businesses to authenticate invoices with the tax authority. The first one is by manual submission via MyInvoisPortal, the online portal provided by the Malaysian tax authority. The second one is by API linking MyInvoisPortal with the company’s existing invoice system.
- Multibook e-Invoice compliance features
Multibook has developed a standard file output function that enables batch uploads to MyInvoisPortal. The required upload format consists of 11 sheets, which can be time-consuming when filled manually. By utilizing multibook, businesses can submit authentication requests in bulk, improving operational efficiency, reducing processing time, and minimizing errors.
Multibook remains committed to adapting to regulatory requirements and tax law updates in various countries. Our mission is to make the challenge of international business management more accessible and easier, to “Empower your potential” .
- Overview of Global Cloud ERP “multibook”
Multibook is a cloud-based ERP designed for overseas business operations, prioritizing speed in implementation, processing, and issue resolution. Supporting 12 languages, multi-currency transactions, and multiple account books, it seamlessly integrates business locations worldwide. Currently it has been adopted by over 500 companies across 33 countries, spanning industries such as manufacturing, trading, food & beverage, and construction, catering to both listed and non-listed enterprises.
Key Features: Accounting, logistics, fixed asset management, IFRS lease asset management, expense reimbursement, management cockpit, business process outsourcing cockpit, external integration (e.g., consolidated accounting, warehouse management)
Service: multibook
Website: https://en.www.multibook.jp/
12 Supported Languages: Japanese, English, Thai, Vietnamese, Korean, Burmese, German, French, Spanish, Traditional Chinese, Simplified Chinese and Indonesian.
- Company Overview
Company name: Multibook Limited
CEO: Tadaaki Murayama
Established: September 2000
Headquarters: NMF Gotanda Ekimae Building 5F, 1-1-8 Nishi-Gotanda, Shinagawa-ku, Tokyo, Japan
Overseas offices: Singapore, Thailand, Philippines
Business description: Planning, development and provision of global cloud ERP services, including “multibook.”
by | Mar 7, 2025 | Business
XPRESS Super App is an innovative multi-transport ride-hailing platform in the Philippines that empowers seniors to embrace an active second life. Inspired by Japan’s high senior employment rates, the app offers user-friendly training and design, along with BYD-backed Hybrid/EV loans at 0% commission during a transition period. The Negosyo Program and exclusive financing provide safe, sustainable mobility, with every booking insured for riders and drivers, ensuring reliable transportation solutions daily.
Manila, Philippines – XPRESS Super App, the country’s newest multi-transport ride-hailing platform, is redefining retirement by inviting senior citizens to embrace a vibrant “2nd life” after their careers. Inspired by Japan’s progressive employment model, a recent report by the Japan Business Federation revealed that in 2022, the employment rate for individuals aged 60 and older reached 25.2%, significantly higher than in the United States (18.6%) and the United Kingdom (10.9%). This encouraging data has fueled XPRESS’s mission to ensure that retirement is a time of purpose and renewal.
Designed with simplicity in mind, the XPRESS app features large, easy-to-read icons, and the company provides smartphones along with personalized training for those unfamiliar with modern technology. “We believe everyone deserves a chance to stay active and engaged,” an XPRESS spokesperson stated.
In a groundbreaking collaboration with BYD, XPRESS offers drivers the opportunity to avail Hybrid and EV loans, making sustainable vehicle ownership more accessible. During a limited-time transition period, drivers using electric EV or hybrid vehicles benefit from a 0% commission program, allowing them to maximize earnings while supporting eco-friendly transportation.
Furthering its commitment to inclusivity, XPRESS has introduced the Negosyo Program in partnership with Cebuana Lhuillier. This initiative provides exclusive financing options for driver partners across Metro Manila and key cities nationwide like Bataan, removing barriers to EV adoption.
XPRESS also addresses driver shortages during rush hours by welcoming both senior riders and drivers. With specific age requirements for 2-wheel Moto Taxis (20-60) and 4-wheel Car Taxis (20-65), additional doctor’s fit-to-drive certification for riders or drivers aged 60-65, and an active professional Philippine driver’s license, XPRESS is paving the way for a more inclusive, sustainable future. Every active booking is insured for both the rider/driver and their passenger to ensure top-notch coverage.
For more details, visit www.xpress.ph and follow XPRESS on Facebook, Instagram, and TikTok @XpressPhilippines or e-mail in**@****ss.ph.
by | Mar 7, 2025 | Business
Manila, Philippines – February 26, 2025 – The Kloud Solutions Inc. Launch event was a groundbreaking moment in the Philippine IT and cloud computing industry, marking a new era in telecommunications and business solutions. Among the key highlights of the event was the presentation of OneSuite Business by Mary Olmstead, an emerging leader in IT and cloud communications, who introduced the cutting-edge virtual PBX system designed to revolutionize business communications for solopreneurs, small businesses, and remote teams.
Mary Olmstead: Pioneering Smart Business Communication Solutions and AI Advocacy
Mary Olmstead, a passionate advocate for innovative and cost-effective IT solutions, took center stage to introduce OneSuite Business, an industry-leading pay-as-you-go virtual PBX that empowers professionals, business owners, and remote teams with seamless communication solutions. With her expertise in IT and business communication, Olmstead highlighted how OneSuite Business offers unparalleled convenience for those needing a dedicated US business number while staying in the Philippines for business, vacation, or leisure activities.
OneSuite Business: A Game-Changer for Business Owners, Remote Professionals, and Travelers
Since its inception in 1999, OneSuite has been a pioneer in prepaid integrated telecom services, and with the evolution of remote work and global business operations, OneSuite Business was designed as an upgraded, simplified, and cost-efficient solution tailored for today’s professionals.
Key benefits of OneSuite Business include:
✔ Dedicated Business Number: Stay connected with a US business number wherever you go.
✔ Auto Attendant & IVR: Set up professional call routing to ensure calls reach the right place.
✔ Caller ID Protection: Keep personal and business communications separate while maintaining professionalism.
✔ Receive 2FA & OTP Verification Codes: A secure solution for authentication while traveling abroad.
✔ Scalability for Teams: A flexible virtual phone system for solopreneurs, startups, and growing businesses.
✔ Pay-as-you-go Pricing: Only pay for what you use, making it an affordable option for businesses of all sizes.
✔ Multi-Device & Remote Access: Make and receive calls or send SMS from anywhere in the world via the OneSuite Business App or thru the website.
On <b>February 26, 2025</b>, at the<b> Kloud Solutions Launch</b>, Olmstead had the opportunity to showcase how OneSuite Business can empower professionals with seamless communication solutions.<i></i>
Mary Olmstead emphasized that OneSuite Business is the perfect solution for Filipinos working remotely, managing an international business, or maintaining a presence in North America without incurring expensive roaming or international calling charges. Additionally, OneSuite Business is an ideal choice for U.S. tourists traveling to the Philippines or anywhere else in the world for business, work, or leisure activities. With its cloud-based IPPBX service, OneSuite Business ensures that travelers can maintain seamless communication as if they never left the U.S.This means they can receive and make calls with a dedicated U.S. number, send and receive SMS, and manage business operations without the hassle of costly international fees or unreliable roaming services. Whether in Southeast Asia, Europe, or anywhere else, OneSuite Business provides uninterrupted connectivity, giving travelers the flexibility and convenience of a professional business phone system wherever they go.
A Strategic Moment in the IT Industry
The Kloud Solutions Inc. Launch event was a testament to the growing demand for locally owned, sovereign cloud computing and telecom solutions in the Philippines. As SkyLab’s FusionFlow Cloud Service Platform expands its reach into the region, the partnership between OneSuite Business and Kloud Solutions Inc. underscores the importance of cutting-edge cloud-based communication solutions tailored for modern business needs.
Olmstead’s presentation highlighted the shifting landscape of business communication, ensuring small businesses, entrepreneurs, and remote professionals have the right tools to stay connected, work efficiently, and grow their businesses seamlessly.
Building a Name in the IT Industry
Mary Olmstead is set on making an impact in the IT and cloud solutions space. With her expertise and strategic vision, she aims to continue advocating for smart, affordable, and efficient business communication tools, as well as the integration of AI to drive digital transformation. Her presentation at the Kloud Solutions Inc. launch is just the beginning of her journey toward becoming a recognized leader in IT, AI, and telecom innovations.
For more information about OneSuite Business and how it can help your business stay connected while in the Philippines, visit www.onesuitebusiness.com or contact Mary Joy Custodio-Olmstead at ma***********@**********on.com.
by | Mar 7, 2025 | Business
Villgro Philippines, a gender-smart incubator supporting impact-driven enterprises, has partnered with the Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA) to jointly run the Sustainable Agriculture and Food Security Enhancement (SAFE) Accelerator. This virtual accelerator program is designed to support high-potential enterprises developing regenerative, climate-resilient solutions that address food security and sustainable agriculture challenges in Southeast Asia. Applications will open in April 2025.
Villgro Philippines, a gender-smart incubator supporting impact-driven enterprises, has partnered with the Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA) to jointly run the Sustainable Agriculture and Food Security Enhancement (SAFE) Accelerator. This virtual accelerator program is designed to support high-potential enterprises developing regenerative, climate-resilient solutions that address food security and sustainable agriculture challenges in Southeast Asia.
With agriculture serving as a backbone for millions across the region, the sector faces escalating threats from climate change, extreme weather events, unsustainable farming practices, and food waste. The SAFE Accelerator aims to cultivate market-driven, climate-resilient solutions that protect biodiversity, sustain farming communities, and improve food security.
“SEARCA, with its deep expertise in advancing climate-smart agriculture and agritech innovations, sees the SAFE Accelerator as a key initiative in fostering sustainable development across the region,” said Dr. Glenn Gregorio, SEARCA Center Director.
He added that the program will support four enterprises in Lao PDR, the Philippines, Timor-Leste, and Vietnam that integrate regenerative, nature-based solutions in their business models.
“The need of the hour is urgent transformative change to ensure food security – regenerative agriculture is at the heart of restoring ecosystems and ensuring our food systems are sustainable. The SAFE Accelerator will equip enterprises driving climate-friendly agribusinesses with coaching, tools, and networks to scale regenerative solutions that sustain both people and the planet.” said Priya Thachadi, Co-Founder and CEO of Villgro Philippines.
The four-month virtual accelerator program offers tailored capacity-building, mentorship from industry experts, hands-on workshops, gender-smart training, and self-paced investment readiness training. The program will conclude with an Impact Showcase, where selected enterprises will connect with potential investors and partners. Additionally, eligible enterprises may receive further funding opportunities through Villgro Philippines’s investor network.
“The SAFE Accelerator is an important step for empowering enterprises at the forefront of climate-smart agriculture, enabling them to scale solutions and the kind of innovations needed to reshape agriculture in Southeast Asia—driving both ecological restoration and long-term food security,” said Atty. Eric Reynoso, SEARCA Program Head for Emerging Innovation for Growth.
Applications will open in April 2025 for screening and joint evaluation by Villgro Philippines and SEARCA. Interested enterprises or partner organizations in Lao PDR, the Philippines, Timor-Leste, and Vietnam may reach out to the team at cl*****@****************es.org.
by | Mar 7, 2025 | Business
Are you considering investing in Indonesia? Understanding the process of establishing a Foreign Owned Company Limited Liability Company (PT PMA) is crucial for foreign investors looking to tap into Indonesia’s promising economic landscape. In this comprehensive guide, we’ll explore the requirements, corporate structure, and key considerations involved in setting up a PT PMA in Indonesia.
From understanding the legal framework to navigating restrictions on foreign ownership and minimum investment requirements, this article provides valuable insights to help you make informed decisions and navigate the complexities of investing in one of Southeast Asia’s largest economies. Whether you’re a seasoned investor or exploring new opportunities, this guide will equip you with the knowledge and tools needed to establish a successful presence in Indonesia’s thriving business environment.
Indonesia presents excellent investment prospects to foreigners because of its youthful and huge population, growing standard of living, wealth of natural resources, and inexpensive labor. As a result, Indonesia tends to see an increase in the realization of foreign direct investment (FDI) annually. This section addresses the establishment of Perseroan Terbatas Penanaman Modal Asing, often known as PT PMA, a limited liability company for foreign investments in Indonesia. It is the official organization that permits foreign investors to carry out business operations in Indonesia.
Indonesia, one of the largest growing nations, offers excellent economic prospects to foreigners. The Foreign-owned Limited Liability Company (PT Penanaman Modal Asing) requirements in Indonesia are important information for those of you who wish to begin growing your business there. Let’s just call it PT PMA for short.
PT PMA, as its name suggests, is a Limited Liability Company (PT) that operates under the regulations of Law Number 40 / 2007, which relates to limited liability companies (Company Law). This type of business might be partially or fully owned by foreign entities or individuals. It is also important to keep in mind that several economic areas in Indonesia are off-limits to international investment.
A foreign investment in Indonesia is defined as an investment activity carried out by a foreign investor with the intention of operating a business inside the borders of Indonesia, as per Law No. 25/2007 on Investment (New Investment Law). The PT PMA is the legal organization that permits a foreign individual, foreign entities, or foreign government agency to conduct business in Indonesia—that is, to create income streams and profits.
It is essential to emphasize that a number of Indonesian industries are either completely or partially off-limits to foreign investment. The Positive Investment List, which is maintained and updated often, is the resource you need to learn which industries accept foreign investment (BKPM). The list indicates the highest proportion of foreign ownership permitted in the event that a sector is partially closed to foreign investment. This implies that in order to conduct business in that specific industry, you will require an Indonesian partner.
Corporate Structure of a Foreign Owned Limited Liability Company (PMA)
A foreign owned limited liability corporation (PMA) has the following corporate structure:
Shareholders
Two must be present at minimum. The shareholders from Indonesia and/or abroad may be either natural persons or corporations.
Board of Directors
The PMA’s daily activities are overseen by the members of the board of directors. The corporation must have at least one director, who may be an Indonesian or a foreign national. A president director must be selected if the board of directors is composed of more than one director. Additionally, the president director may be an Indonesian or a foreign national.
Board of Commissioners
The commissioners’ job is to keep an eye and supervise the PMA’s board of directors. A president commissioner must be selected if the board of commissioners has more than one member, and the shareholder must choose at least one commissioner. Both foreign nationals and Indonesians may serve as commissioners and president commissioners.
The general meeting of shareholders appoints the members of the board of directors and board of commissioners. A notarial deed of appointment concludes their choice.
Important Things to Consider When Setting Up a PT PMA
Here are some major considerations you should make before deciding to open a PT PMA in Indonesia:
Owners of PT PMA shares:A PT or LLC needs two shareholders, at least one of whom must be a foreign national, in order to be considered as a foreign company.The Positive Investment List and the Business Sector:Indonesian government has opened up to be invested by foreigner. Most of the activities are open for foreign ownership based on the Positive Investment List Regulation. However, certain economic sectors (PT PMA) are totally off-limits to foreigners, while other sectors allow foreign ownership to be limited to up to 95%. You can do research using Indonesia’s Positive Investment List (Daftar Positif Investasi) to find the list of prohibited sectors.Registered Office Address:The address must be in the commercial area.Name of the Company:The name shall consist of 3 words. The words cannot contain the words which have a meaning as Corporation, Company, Limited Liability, Incorporation, or any other name which has a similar meaning. Example of Indonesian company names: PT Tata Boga Indonesia, PT Jaya Success Indonesia. After you select the name, you must check whether the name is available to be used and not similar with other registered Indonesian company.Plan for Minimum Investment and Paid-Up Capital:The amount of money invested by a company’s shareholders is known as a paid up capital. The daily operating costs will subsequently be covered by these paid-up capitals. The Investment Coordinating Board, or BKPM, in Indonesia established a minimum capital requirement of at least IDR 10 billion, or equivalent approximately about USD 700,000. This amount is equivalent to the requirements for a Large Enterprise Local LLC (PT).
Summary
Understanding the intricacies of establishing a Foreign Owned Company Limited Liability Company (PT PMA) in Indonesia is crucial for investors looking to tap into the country’s promising economic prospects. With its youthful population, abundant natural resources, and growing standard of living, Indonesia offers a fertile ground for business growth. However, navigating the legal and regulatory framework, including compliance with the Negative Investment List and understanding the corporate structure requirements, is essential for success.
By grasping the requirements and considerations outlined in this guide, investors can make informed decisions and maximize their chances of establishing a successful presence in Indonesia’s dynamic market. Thus, knowing the ins and outs of setting up a PT PMA is not only important but also imperative for those looking to capitalize on Indonesia’s economic potential and contribute to its ongoing development.
Looking to dive into Indonesia’s vibrant business landscape? Let us assist you in navigating the complexities of setting up your business entity in this dynamic market. Kickstart your entrepreneurial journey today! Click here to begin.
by | Mar 6, 2025 | Business
Trump’s Strategic Crypto Reserve prioritizes XRP, SOL, and ADA over Bitcoin and Ethereum. Discover the reasons behind this bold move, its economic and political implications, and how it impacts the crypto market.
Since his return to the White House, President Donald Trump has taken a new approach to the cryptocurrency industry, focusing on clearer regulations and the establishment of a Strategic Crypto Reserve.
However, what has sparked widespread interest is his preference for certain digital assets—XRP, Solana (SOL), and Cardano (ADA)—over more established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
Why Trump Supports XRP, SOL, and ADA
Ki Young Ju, CEO of CryptoQuant, explains that the Trump administration backs only digital assets that align with U.S. national interests. This strategic selection aims to bolster America’s financial dominance on the global stage.
According to a Zycrypto report, Young Ju noted on the platform X that the crypto industry has become a powerful tool for the U.S. to strengthen its financial influence worldwide.
By supporting these particular assets, the administration seeks to attract foreign capital into the U.S. crypto market, giving the country a competitive advantage.
Trump has instructed the Presidential Working Group to continue developing the Strategic Crypto Reserve with XRP, SOL, and ADA as key assets. Initially, Bitcoin and Ethereum were excluded, but they were later added.
However, Young Ju argues that this inclusion does not necessarily benefit BTC and ETH, as both are considered more neutral on a global scale.
Cryptocurrency as America’s Economic Weapon
Trump’s policy suggests that digital assets aligned with U.S. interests will receive regulatory protection and support. In contrast, neutral or unfavorable assets could face stricter regulations.
This shift is evident in more lenient policies toward projects that align with the administration’s agenda, such as meme coins themed around Trump.
Young Ju remarked, “Now, if something benefits Trump and supports U.S. national interests, it is no longer considered illegal.” This statement underscores the administration’s willingness to back crypto projects that follow government policies.
Community Reactions to Trump’s Crypto Policies
Despite debates about the selection of assets for the Strategic Crypto Reserve, many crypto investors welcome this policy shift. It signifies greater acceptance of the industry in the U.S. and presents opportunities to attract new capital into the market.
Since taking office again, Trump has implemented strategic crypto policies, including establishing a specialized task force to develop clearer regulations.
Some U.S. states are also drafting legislation to create Strategic Bitcoin Reserves, marking a significant shift from previous administrations’ restrictive stance on cryptocurrencies.
Understanding Trump’s Crypto Picks
In a Truth Social post, Trump confirmed that his executive order on digital assets would create a national stockpile of XRP, SOL, and ADA. This announcement surprised many traders, causing a price surge for these tokens.
Later, Trump added Bitcoin and Ethereum to the reserve. Below is a breakdown of the selected cryptocurrencies:
1. XRP
Created by U.S.-based Ripple, XRP is the world’s third-largest cryptocurrency, with $140 billion in circulation and a price of approximately $2.40 per token. Ripple promotes XRP as a faster and cheaper alternative for global fund transfers compared to Bitcoin.
Despite its volatility, XRP has gained regulatory support, with Ripple’s President Monica Long stating that the company’s political action committee (PAC) supports candidates advocating pro-crypto regulations.
2. Solana (SOL)
SOL is the token powering the Solana blockchain, often used for launching meme coins—including Trump’s own cryptocurrency, introduced in January 2025. With $73 billion worth of tokens in circulation, SOL ranks as the sixth-largest cryptocurrency.
However, it has experienced significant volatility, particularly due to its past association with former FTX CEO Sam Bankman-Fried. Despite this, Solana remains a strong Ethereum competitor, especially in the NFT market.
3. Cardano (ADA)
Founded in 2015 by Ethereum co-founder Charles Hoskinson, Cardano (ADA) has $31.4 billion in circulation, making it the eighth-largest cryptocurrency.
ADA experienced a substantial price increase of over 70% following Trump’s announcement. Cardano’s decentralized structure includes five key entities, including the Switzerland-based Cardano Foundation and the for-profit company Emurgo.
4. Bitcoin (BTC)
As the world’s first and most valuable cryptocurrency, Bitcoin has a market cap exceeding $1.7 trillion, accounting for over half of the $3 trillion digital asset market. The SEC’s approval of Bitcoin ETFs in January 2024 and Trump’s pro-crypto stance have contributed to its price surge.
However, Bitcoin’s decentralized nature means it lacks direct political alignment, making its initial omission from the Strategic Crypto Reserve surprising.
5. Ethereum (ETH)
Ethereum powers decentralized finance (DeFi) applications and smart contracts. Founded by Vitalik Buterin, it remains the second-largest cryptocurrency.
Trump-affiliated company World Liberty Financial has issued digital tokens on Ethereum, raising over $500 million. The Ethereum blockchain continues to play a major role in reshaping global finance.
The Political and Economic Implications
Trump’s crypto reserve announcement has generated discussions about his administration’s broader economic strategy. The initial exclusion of Bitcoin raised concerns among BTC proponents who view it as the cornerstone of decentralized finance.
Some analysts argue that prioritizing XRP, SOL, and ADA over Bitcoin and Ethereum could introduce volatility and political risk.
David Sacks, Trump’s Crypto Czar, and Bo Hines, Executive Director of the initiative, have faced criticism for their handling of crypto policy.
Critics point to Trump’s controversial meme coin launches ($TRUMP and $MELANIA) and argue that the administration lacks deep expertise in digital asset regulation.
Potential Risks and Future Developments
The inclusion of relatively illiquid assets like XRP, SOL, and ADA in the Strategic Crypto Reserve could pose financial risks. Bitcoin’s daily trading volume far exceeds that of these tokens, making it the most stable choice for a national reserve.
Solana has experienced periodic network outages, and XRP’s centralized governance has drawn scrutiny.
If any of these tokens collapse, the administration may face political fallout, damaging trust in government-backed crypto policies. The Terra (LUNA) crash in 2022 and the FTX scandal serve as reminders of the volatility and regulatory risks in the digital asset market.
The Road Ahead: Bitcoin’s Rising Influence
Despite the focus on XRP, SOL, and ADA, Bitcoin remains the most dominant digital asset. Trump’s policies, while seemingly favoring certain tokens, have indirectly boosted Bitcoin’s appeal as the most liquid and decentralized cryptocurrency.
Following Trump’s announcement, Bitcoin’s price surged by approximately 7%, adding nearly $100 billion to its market cap.
The upcoming White House Crypto Summit, led by Sacks and Hines, will provide further clarity on the administration’s long-term digital asset strategy. If Trump pivots toward prioritizing Bitcoin’s security and liquidity, the U.S. could emerge as a leader in the digital financial revolution.
Conclusion
Trump’s approach to cryptocurrency represents a paradigm shift in U.S. digital asset policy. While the Strategic Crypto Reserve prioritizes XRP, SOL, and ADA, Bitcoin remains the most significant player in the market.
The administration’s regulatory stance will shape the future of crypto adoption in the U.S., influencing global financial markets. Whether this initiative succeeds or encounters regulatory hurdles remains to be seen, but one thing is clear—cryptocurrency is now firmly on the national agenda.
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