Petaling Jaya: The co-working space provider to meet the demand for flexible workplaces in Malaysia’s major economic centers, is expanding to Johor and Penang outside the Clang Valley earlier this year.
Work CFO and strategist Andrew Yev said that the team has visited Johor several times and is quite excited, especially with the official announcement of the Johor-Singapore Special Economic Zone (JS-SEZ).
“Clang Valley is still the main area of our expansion, but whether it is in Penang in the north or in Johor in the south, I would say, these are natural the next cities that we will discover. The economy is doing well. Therefore, we basically try our best to catch development in that sense, ”he said Sunbiz in an interview.
Yehov said that the company is planning to open four outlets annually every year with a target of 100,000 square feet of workplace. “By 2026, Worq will probably establish its presence in Johor or Penang, which is inspired by the demand for economic activity and business services in these states.”
Stephanie Ping, CEO of Worq, said that South East Asia benefits from supply chain diversification and increasing foreign investment, Worq’s goal is to support businesses and promote economic growth. Is.
He said, “It is a clear opportunity for countries like Malaysia, Vietnam and Thailand to benefit from it as businesses are getting away from dependence on single country like China.”
Ping said that Southeast Asia is rapidly attracting foreign investment as these businesses want to diversify their supply chain. “In this context, Malaysia will benefit from increasing investment as companies are likely to open more workplaces in this sector.”
Initiatives like JS-SEZ are expected to increase connectivity and comprehensive economic cooperation.
“This cooperation between Malaysia and Singapore will help meet the needs of their growing economies as it is in a position to promote regional development, attract global investors and create more employment opportunities. Businesses actively want to install operations near both Malaysia and Singapore, with significant expansion in areas such as manufacturing, technology and logistics, ”said Ping said.
He said that in the budget 2025, tax incentives are increasing the demand for co-operations.
Ping said, Ping said, with the introduction of incentives for flexible work system, inclusion and incentives for workforce diversification in budget 2025, co-work location techniques-capable, are moving forward to provide community-operated solutions which emerging business needs and comprehensive economic Combine the trends.
“Co -working places are responding by presenting flexible and adaptable enterprise solutions that make it easy for multinational companies to establish the presence in Malaysia – with more adaptable membership options and technology -competent workplace, these places now support diverse functioning The new policies of the government have encouraged models. ”
Ping said that co-work spaces are advanced their features with artificial intelligence-managed solutions, high-speed internet and smart office solutions to provide a spontaneous, modern work environment for employees. “They will become common, gradually replace more traditional office locations as businesses are either considering changing their offices completely or complementing with co-functioning options.”
Tax incentives of Budget 2025 include capacity building and software acquisition expenses, which are limited RM500,000 – which are now eligible for additional 50% tax deduction.
In addition, encouragement has been started to encourage women and disabled persons returning to work to be hired. Employers can get the same 50% tax deduction at employment expenses to hire women returning to the workforce for a period of 12 months.
Business people who hire persons with disabilities will get an incentive of RM600 per month for three months. These incentives provide more opportunities to diversify their workforce along with benefiting businesses from tax relief. ,
