Engaged In Companies in Malaysia

Engaged in companies in Malaysia are required to comply with the Companies Act 2016 and the Companies Commission of Malaysia (CCM) guidelines. The Companies Act 2016 provides for the registration of companies and the regulation of their internal affairs, while the CCM is the statutory body responsible for the regulation and supervision of companies in Malaysia.

Under the Companies Act 2016, a company must have at least two shareholders and a minimum paid-up capital of RM2,000. The company must also appoint a company secretary within six months from the date of its incorporation.

The company must maintain proper books of account and prepare financial statements in accordance with the accounting standards prescribed by the Minister of Finance. The financial statements must be submitted to the CCM within 30 days from the end of the financial year.

The company must also hold an annual general meeting (AGM) within 18 months from the date of its incorporation and thereafter once in every calendar year, but not more than 15 months from the date of the last AGM.

The quorum for an AGM is two shareholders or 10% of the total number of shareholders, whichever is lower. The company must give 14 days’ notice of the AGM to all shareholders.

The company must