Regardless of industry and size, we are seeing increasingly stringent regulations and tighter controls imposed by regulators globally, with the most recent one being the Beneficial Ownership. And as technology becomes progressively embedded into the way we work, we are seeing more challenges and risks associated with virtual meetings, data storage and workflow management.
But how are these being managed effectively? What does this mean for businesses, as their focus extends beyond compliance obligations to include corporate governance, sustainability and managing risks?
Board of directors now play a more critical role in legal entity management to optimise stakeholder expectations. Their expanding responsibilities may mean that you’ll need support in the set up of a business, managing transactions, providing board support, governance protocols and advisors to the board for effective entity management.
From entity creation and management to dissolution, we offer a full range of services delivered by a team of experienced company secretaries and governance individuals, so that you can focus on strategic decisions with peace of mind. Using our in-house digital platform, we’re able to integrate our services to support the full life cycle in entity management (including transactions, governance and compliance) for a better and smoother experience.
We offer a full range of the following:
advisory services on the different types of establishment in Malaysia
incorporation of entities
registration of foreign companies/branches
application for representative/regional office
Regulators have joined hands globally, in embedding Beneficial Ownership (BO) reporting as part of mandatory regulations. With the introduction of BO in the Malaysian Companies Act 2016, have you ensured that your internal regulations govern such reporting?
Putting in place a robust reporting and maintenance policy can help ensure compliance when the new regulation is enforced.
How comfortable are you with your entity’s statutory compliance under the Malaysian Companies Act 2016? Or acquiring a new business but unsure of its compliance status? We can help in conducting a due diligence on an entity’s record which summarises its compliance status from various risks perspectives and propose remedial actions where required.
Under the Malaysian Companies Act 2016, hefty penalties with imprisonment provisions may be imposed by the Regulator on the Company and Officers for breach of compliance.
The pandemic has resulted in changes to governance practices, which amongst others include:
Directors’ risk and responsibilities
Remote board
Technology
Speak to us to find out more.
Malaysia has emerged as an attractive regional hub for services in the last decade, with promising growth in the financial services, information and communications technology (ICT), manufacturing and logistics sectors among others.
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.
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.
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