As part of Bank Negara Malaysia's continuous surveillance on the repatriation of export of goods by resident exporters (as required under Notice 7 of Foreign Exchange Policy Notices) as well as an effort to ensure the accuracy of the national statistics, your company is required to submit monthly report on Inter-company Account (“IA”) transactions to Jabatan Pengurusan Data dan Statistik, Bank Negara Malaysia for statistical compilation purpose IF your company fulfil the following:

•annual gross export value of RM50 million and above in goods or services (based on the latest calendar year); and
•netting arrangement with a non-resident counterpart

IA is defined as an account maintained by a resident company in Malaysia with any non-resident company, whether related or non-related, to record all payables and receivables in foreign currency vis-à-vis the non-resident company and settlements on the balances of the account arising from the offsetting of payables against receivables.

You may contact BNM’s Cash BOP Reporting team via the below e-mail to initiate the submission of Statement IA through BNM’s External Sector Statistics Portal or to request for more information/clarification.