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Requirements to Form a Malaysian Company

Update Date:2015-9-17 8:53:37 Source:Tannet (Malaysia) Sdn Bhd Views:762

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Suruhanjaya Syarikat Malaysia (Companies Commission Malaysia)

The Companies Commission of Malaysia (SSM) established on 16 April 2002, serves as an agency to incorporate companies and register businesses in Malaysia.

A limited company in Malaysia can be incorporated with a minimum authorized capital and paid-up capital of RM400,000 and RM2 respectively.

Director requirements

Every company must have at least 2 directors who are at least 18 years of age and are residing in Malaysia.

He/she is not a bankrupt and has not been convicted and imprisoned for a period of past 5 years.

Company Secretary requirements

A company must have at least one Company Secretary

Company secretary must be a member of any one of the prescribed professional bodies or licensed by the SSM.

Registered office requirements

Every company must have a registered office in Malaysia to which all communications and notices may be addressed.

It is normal practice in Malaysia to have the secretarial office as registered office of the company.

Accounts and Audit

Every company is required to prepare its accounts and to be audited by approved auditors in Malaysia every year.

A company must appoint one or more auditors who must be approved auditors in Malaysia.

The audited accounts must be tabled at the AGM for adoption/approval by the shareholders of the company.

This audited accounts is required to be lodged with SSM, together with the Annual Returns.

Annual General Meeting (AGM)

A company is required to hold its Annual General Meeting (AGM)  within 6 months from the accounting year end, and for newly registered company, within 18 months from the date of incorporation.

One of the agenda of AGM is to have the audited accounts adopted or approved by the shareholders of the Company.

Annual Returns

Every company needs to lodge the Annual Return within 1 month of the AGM

Annual Return shall include audited accounts and auditor’s report.

Annual return is a snapshot of general information about a company’s directors, secretary, registered office, shareholders, share capital, principal business activities, etc.



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