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Malaysia Company Registration

Updated:2017-10-26 15:09:39    Source:www.tannet-group.comViews:214

Malaysia company registration is one kind of Tannet's business incorporation services. Malaysia Company Formation under Malaysian Companies Act 2016 has been implemented on 31st of January 2017. Below are the 10 crucial things companies can consider preparing for under the Malaysian Companies Act 2016. 

Filing of Annual Return (Anniversary of Incorporation Date)
The new regime now requires the filing of the annual return not later than 30 days from the anniversary of the incorporation date. Previously, the annual return would be filed after the Annual General Meeting (AGM). So while companies may have just filed their annual return a short while ago, it would be prudent to track the anniversary of your incorporation date to see if you need to file the annual return again.

Shareholder Resolutions – Comply with the Written Resolutions Procedure
For private companies, there is the new written shareholder resolutions procedure. This will be different from the previous procedure of procuring the Members Circular Resolution where all the shareholders signed on the resolution. There is also an impact on wholly-owned subsidiaries which will have to comply with the new written resolution procedure.

Execution of Documents: Some Uncertainty
Companies will have to be aware that there is a provision providing that the valid execution of documents will need to meet certain signatory requirements, in particular, where a director must sign on that document. It is not clear whether this provision will be interpreted as meaning this is the only way you can validly execute a document or this is merely one way you can carry out such a valid execution. This would have a significant operational impact on all companies if all documents must also require the signature of a director.

New Regulations and New Forms
The new Companies Regulations 2017 have also been gazette. The new Regulations set out some changes and also sets out the Schedule of Fees. The new Forms are not contained within the new Regulations and they should be up on the Companies Commission website very shortly. Some of the forms can be lodged through the electronic filing system while the other forms will have to be printed out and then manually lodged over the counter. The Form numbers have been removed and they only refer to the specific section number in the Companies Act 2016.

Winding up Notice – New RM10, 000 Threshold
The notice has been gazette confirming that the new threshold for the issuance of the winding up notice is now RM10, 000. This is a significant increase compared with the existing RM500 threshold under section 218 of the Companies Act 1965.

The above is just part of it to look into under the Companies Act 2016. There will still be many part for us to get used to and to fully understand in the months and even years to come.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143512, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.

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