CONVERTING SDN BHD TO LLP ACCORDING TO LIMITED LIABILITY PARTNERSHIP ACT 2012 By AZIZAM AZIZAN What is LLP or PLT? A LLP is an alternative business regulated under the LLP Act 2012 that combines the characteristics of a conventional company and partnership. LLP’s offer similar advantages to private limited companies (Sdn Bhd) suchasLimited Liability, Perpetual […]

By MOHD AMIRUL RADZUAN Sales Tax on Low-value Goods (LVG tax) 2024 – What Do You Need To Know? On January 1, 2024, Malaysia officially implemented the sales tax on low-value goods (LVG tax), a measure initially proposed in Budget 2022. While it was originally scheduled to take effect on April 1, 2023, the implementation […]

By MALAYA CORPORATE The Advantages of Bumiputera Status What is bumiputera status ?Under SC : A Bumiputera-controlled company is here defined as a company in which more than 50 per cent of its equity is owned by Bumiputera shareholders/institutions; https://www.sc.com.my/resources/media/media-release/sc-allows-flexibilities-in-listing-criteria-for-bumi-companies#:~:text=A%20Bumiputera%2Dcontrolled%20company%20is,per%20cent%20of%20its%20Board Market Preference Some consumers and clients may prefer doing business with Bumiputera companies due to […]

By AZIZAM AZIZAN “Stay Informed: The Newest Registration Numbers from SSM A Company Registration Number, issued by the Companies Commission of Malaysia (SSM), is a vital identifier for businesses operating within Malaysia. This unique alphanumeric code serves as a fundamental component of a company’s legal identity and plays a pivotal role in the country’s business […]

By AZIZAM AZIZAN UNAUDITED REPORT: WHAT TO UNDERSTAND? In the realm of business and finance, transparency and accurate reporting are paramount for maintaining trust and confidence among stakeholders. The Companies Act 2016 and the Suruhanjaya Syarikat Malaysia (SSM) play crucial roles in regulating and governing the operations of companies in Malaysia. One essential aspect of corporate reporting is […]

By AZIZAM AZIZAN DISQUALIFICATION OF DIRECTOR The Director’s Dilemma: Exploring Disqualification Under Company Law In the realm of corporate governance, the role of directors is pivotal in steering the direction and success of a company. However, not all individuals are deemed suitable for this responsibility. The Companies Act 2016, a fundamental legal framework in Malaysia, outlines provisions for […]

By AZIZAM AZIZAN MASTERING SSM FORMS: A COMPRHENSIVE GUIDE FOR YOUR SDN BHD BUSINESS In Malaysia, the Companies Act 2016 lays the foundation for the legal framework governing business entities, including Sendirian Berhad (Sdn Bhd) companies. As a crucial aspect of compliance and operation, understanding and utilizing the statutory forms provided by Suruhanjaya Syarikat Malaysia (SSM) is […]

By AZIZAM AZIZAN LOAN TO DIRECTORS AD OTHERS PARTIES The Companies Act of 2016 (Act) establishes the duties and obligations of directors as company officers. A director is typically prohibited under the Act from taking loans from the business or any linked firm, even if the company is in a solid financial position to provide a loan. Having […]

By AZIZAM AZIZAN DECODING THE ROLE AND SIGNIFICANT OF A COMPANY SERETARY Every company aims to secure the services of skilled professionals who can effectively contribute to maximizing profitability. With this objective in view, the role of a Company Secretary is strategically positioned across various management tiers to uphold corporate governance and facilitate seamless administrative […]

By AZIZAM AZIZAN OPTIMIZING FINANCIAL STRUCTURE: EXPLORING THE OBJECTIVES AND PROCEDURES OF CAPITAL REDUCTION Capital reduction refers to the process of decreasing a company’s share capital. The Malaysia Companies Act 2016 introduces two methods for companies to carry out capital reduction, in contrast to the earlier Companies Act 1965 which only provided a mechanism requiring […]

By AZIZAM AZIZAN NAVIGATING THE PROCESS OF CHANGING COMPANY SECRETARY The Board of Directors has the authority to remove a Company Secretary from his or her position. The board of directors has the ability to appoint a company secretary, it also has the jurisdiction to remove the secretary. This can be accomplished through either a […]

By MALAYA CORPORATE THE POSITIVE SIDE OF GAINING KNOWLEDGE ABOUT TAX In the Companies Act 2016, the guidelines for distributing dividends can be found in section 131. This section is based on two fundamental principles: 1. Dividends must be paid using the company’s profits. 2. Dividends should not be paid if their payment would render […]