This is a great question as there are many moving pieces. The choice of jurisdiction for a tech startup should consider the tax, legal, networking, startup costs, customer base, and the local talent pool in the region. Both countries have growing populations with a lot of talented software developers, programmers, lawyers, accountants, and engineers, so if you're looking to base your operations and hire locally, you are in luck. Singapore generally offers better tax incentives and a lower effective corporate tax rate than Malaysia. Singapore offers reduced tax rates for qualifying startups that are tax resident of Singapore and meet certain shareholder ownership requirements. You'll also need to consider the tax residency of the shareholders of the company. Both Singapore and Malaysia have various double tax treaties with countries around the world, so you'll have to consider the potential withholding taxes on repatriating profits to your parent company in the form of a dividend distribution.