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Friday, June 2, 2017

Companies Act 2016 Major Changes

Companies Act 2016 implemented with effective from 31.1.2017. 
The previous Companies Act 1965 duly repealed.
Major Changes:- 
a) ONE PERSON company
b) NO MORE AUTHORISED CAPITAL required. No more nominal value or par value for each shares. Only remain paid up capital! Any future share issued will be at an issue price. The issue price may be determined by Board based on company performance.
c) NO MORE ANNUAL GENERAL MEETING. Audit report approved by Board and adopted by Members. Filing audit report with authority within 7 months from year end
d) ANNUAL RETURN will be filed within 30 days from company's anniversary date (i.e date of incorporation)
f) WITH NO CONSTITUTION, all changes in the company details, directorship, shareholdings etc will be governed by new Act
g) no compulsory to adopt COMMON SEAL
h) no compulsory to have SHARE CERTIFICATES

Register Company under New Companies Act 2016

Set up a new Company (Sdn. Bhd.)

 Package of RM1,899 inclusive of the followings.
  1. One FOC Name Search (Extra name Search for only additional RM50 each)
  2. SSM Charges of RM1,000.00 for incorporation
  3. E-Notice of Incorporation
  4. Company profile extract from Registrar of Companies
  5. Minutes of first board meeting
  6. Register Book
  7. Secretarial File 
  8. Free use of Company registered office address
It's also inclusive 5 sets of the following Certified True Copy (CTC) documents:
  1. E-Notice of Incorporation Section 14
  2. Company profile extract from Registrar of Companies
  3. Resolution to open bank account 
Contact Persons:- Emily Hoo
Tel: 03-3319 9130 Fax:03-3319 9130 H/P: 0139319130