Replace vehicles on transportation allowance by a FSL

Introducing ALD MHC MyCar

For many years, Malaysia’s HR policies have been based on a system of allowances: transportation, cost of living, meal, phone….and the list gets longer. When looking at transportation, the complexity is even greater with companies offering a cash allowance, coupled with mileage claim, insurance claim and petrol claims. 

MyCar enables your company to transfer the transportation allowance into a Full Service Vehicle Leasing scheme while making it cost neutral for you.

How does it work?

MyCar aims to reconcile the objectives of the company and its drivers.

MyCar’s main 4 features :

Optimizes the overall tax burdens providing additional benefits to both the company and its driver.  A true win-win !

• The driver trades in his gross allowance for MyCar and gains an incremental tax saving on the allowance amount
• The company benefits from a reduction in its corporate tax bill by claiming deductions on the lease payments to ALD MHC. There is no additional cost to the company
• Ensures your drivers are safe, driving a new car that is fully maintained, fitted with new tyres, comprehensively insured and where all taxes are paid
• Helps the company achieve its CSR commitments and control its CO2 targets while having control of what vehicles its employees drive.

Download our brochure

Contact us for a personalized illustration and assessment on how we can make MyCar work for you.