KUALA LUMPUR (Oct 11): The federal government has granted a 10-year tax exemption on Systech Bhd's 51%-owned unit SysArmy Sdn Bhd following the approval of its MSC status. The computer software developer told the stock exchange today that SysArmy has been granted MSC status by the federal government. "The government has also approved SysArmy's application for the pioneer status incentive under the Promotion of Investments Act 1986," it said. The tax exemption, it said, is for the 100% income tax exemption on statutory income derived from the MSC Malaysia Qualifying Activities for a period of 10 years. The incentive is also applicable to provision of implementation, technical services and maintenance services related to the abovementioned services, it added.

Source: The Edge Markets October 11, 2016 10:41 UTC