Closing down a company is a significant decision that can arise from various circumstances: the business is no longer viable, restructuring has rendered it redundant, or it has served its purpose. In Malaysia, companies can be voluntarily dissolved under the Companies Act 2016 through two primary methods: Striking Off...
The transitional period for the beneficial ownership reporting framework that was implemented since 1 March 2020 has come to an end following the enforcement of the Companies (Amendment) Act 2024 (‘the Act’) on 1 April 2024.
The Companies (Amendment) Bill 2023 (“Amendment Bill”) was passed by the Dewan Rakyat on 28 November 2023 and subject to the official announcement from the Suruhanjaya Syarikat Malaysia (“SSM”) (also known as the Companies Commission of Malaysia).
Companies incorporated under the Companies Act 2016 in Malaysia have mandatory annual compliance filings that need to be lodged with the regulator, Suruhanjaya Syarikat Malaysia (SSM). In general, this includes the Annual Return and Financial Statements. Companies that are able to maintain their statutory compliance...
Suruhanjaya Syarikat Malaysia or the Companies Commission of Malaysia recently issued the Guideline for the Reporting Framework for Beneficial Ownership of Legal Persons.
While most people starting a company are more than ready for the challenges of running a business, the incorporation of a company comes with its own complexities, ranging from governmental processes, state laws and legislations, and the various types of business licenses required, just to name a few.
Malaysia’s move to standardise labour laws in line with conventions under the International Labour Organisation (ILO) is part of the effort to improve working conditions and social security protection for foreign workers in Malaysia.
The company Constitution is often relegated to a supporting role in the operations of a company, and it is in fact, widely overlooked as a key driver of a company’s corporate governance.
