Malaysia company registration is one type of Tannet's business incorporation services provided. Malaysia Company Formation under Malaysian Companies Act 2016 has been implemented on 31st of January 2017. There are the 10 important matters which companies can consider to prepare under the Malaysian Companies Act 2016 as below: 

Annual Return (Company Establishment Date)

The new system now requires filing annual returns no later than 30 weeks after the company's date of establishment. Previously, the annual report will be submitted after the Annual General Meeting (AGM). So, although companies have just submitted their annual returns, they carefully track the anniversary of your company's registration date to determine if they need to submit an annual return.

Shareholders Resolution - Compliance with Written Resolution Procedures

For private companies, there is a new written shareholder resolution process. This is different from the procedure for purchasing the member's circular letter, because all shareholders sign the resolution. The wholly-owned subsidiary is also subject to the new written resolution procedure.

Execution of Documents: Uncertainty

Companies must be aware that there is a provision that the effective implementation of the document needs to meet specific sign-off requirements, especially if the directors must sign the document. It is unclear whether this provision will be interpreted as meaning that this is the only way you can effectively enforce documents or that it is just one way for you to perform such an effective implementation. If all documents must also require a director's signature, this will have a significant operational impact on all companies.

New Rules and New Forms

The new company law 2017 has also been announced. Some changes have been made to the new law and the fee schedule has been set out. The new forms are not covered by the new regulations and should soon be posted on the company committee website. Some forms can be submitted electronically, while others need to be printed out and manually submitted to the counter. The figures in the table have been removed and they refer only to the specific chapter numbers in the 2016 company law.

Winding Up Notice - New RM10,000 Threshold The notice has been announced, confirming that the new threshold for liquidation notice is now RM100,000. This is a significant increase over the current RM500 threshold set out in 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 queries, please contact Tannet
24 hours Malaysia hotline：603-21418908;
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Email: mytannet@gmail.com
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