And (c) Properties Companies in Malaysia

(C) PROPERTIES COMPANIES IN MALAYSIA are private companies that are engaged in the business of real estate development, investment, management and ownership. These companies are regulated by the Malaysian government through the (C) Properties Companies Act 1965.

The main objectives of the (C) Properties Companies Act 1965 are to promote the orderly development of the real estate industry in Malaysia and to protect the interests of investors in real estate companies. The Act provides for the registration of (C) properties companies and the regulation of their activities.

(C) properties companies are required to submit their audited accounts and financial statements to the Registrar of Companies annually. They are also required to maintain a minimum paid-up capital of RM2 million and a minimum net worth of RM10 million.

(C) properties companies are allowed to carry out real estate activities in Malaysia only if they are registered with the Registrar of Companies and have obtained the necessary approvals from the relevant authorities.