10 Deadlines in the month of May 2024 for Malaysian Companies In May 2024, Malaysian companies face crucial deadlines for tax compliance and employee benefits. Adhering to these deadlines is essential for maintaining regulatory compliance and smooth business operations. Here are the key deadlines to remember: May 15, 2024: PCB (April Salary): Ensure prompt processing […]
Determining the Financial Year End In Malaysia, the Companies Act 2016 grants companies the autonomy to choose their financial year end. While the Act does not stipulate a specific date, it mandates that companies prepare Financial Statements within certain timelines and submit them to regulatory bodies. 1. Financial Year End Selection: i. Preparation of Financial […]
Understanding the Capital Structure of SDN BHD Companies in Malaysia 1) Defining Paid-Up Capital: Paid-up capital, also known as contributed capital or paid-in capital, represents the funds injected into a company by its shareholders in exchange for shares. It serves as the financial foundation, enabling companies to fuel operations, pursue investments, and manage debts. Paid-up […]
Navigating Annual Return Requirements for Malaysian Companies: A Comprehensive Guide In adherence to the Companies Act 2016, all local companies (Section 68), foreign companies (Section 576), including Exempt Private Companies, registered within the Companies Commission of Malaysia (SSM) are mandated to fulfill strict Annual Return (AR) lodgement requirements. These obligations underscore the universal importance of […]
Understanding the 6 Annual Compliance Fees for Secretarial Services in Malaysia Embarking on a new business journey involves meticulous planning, especially when it comes to adhering to regulatory requirements. Company secretarial charges, although obligatory under the Companies Act 2016 in Malaysia, are often underestimated by business owners. Let’s delve into the breakdown of annual compliance […]
A Complete Guide to Company Secretary Regulations in Malaysia: Requirements and Responsibilities In Malaysia, every company must adhere to specific requirements regarding company secretaries. Here’s an overview of the qualifications, appointment process, duties, and more to ensure compliance and smooth operations. Qualifications of a Company Secretary: A company secretary must be a natural person aged […]
Are you considering the process to set up an Sdn. Bhd. company in Malaysia and weighing the options of handling it yourself or engaging a company secretary? While navigating the entire incorporation process independently is feasible, it’s important to consider several key factors. Time and Energy Investment: Setting up a MyCoID account and completing identity […]
Are you looking to establish an Sdn Bhd corporation in Malaysia? Our detailed guide simplifies the registration process,ensuring a seamless experience from start to finish. Step 1: Register for an Account on the MyCoID Portal Begin your journey by creating an account on the MyCoID portal. Await a confirmation email with instructions for account authentication […]
What Is The Difference Between Sole Proprietorship/Enterprise And Sdn. Bhd. Company In Malaysia? Q1: What sets apart an Sdn. Bhd. from a Sole Proprietorship in Malaysia? A1: Sdn. Bhd. and Sole Proprietorship are distinct business structures in Malaysia. A Sdn. Bhd., or private limited company, is a legal entity with its own rights, capable of […]
Navigating Company Name Approval with SSM 1. Restricted or Prohibited Words: The Companies Act 2016 gives SSM the authority to prohibit or restrict certain names deemed undesirable by the Registrar. For example, name which in connection with Royal family, state or federal government, political parties and so on. Specific prohibitions can be found in the […]
Resigning as a Company Director Can’t Just Walk Away: Resigning as a company director isn’t as simple as quitting a regular job. There are rules, especially under the Companies Act 2016, that make it a bit tricky. Â Statutory Restrictions: You can’t just up and leave if it means the company will be left high […]
The Companies Act 2016 has recently undergone substantial changes through the implementation of the Companies (Amendment) Act 2024, which became effective on April 1st, 2024. One notable aspect of these updates is the strengthening of the Beneficial Ownership (BO) Reporting Framework, which applies to both domestic and foreign companies operating in Malaysia. 1. Expanded Definition […]