To Carry On The Business As Real Property And Housing Developer Companies in Malaysia
The Companies Act 2016 (Act 777) was introduced on 1 January 2017 and it repealed and replaced the Companies Act 1965. The new Act seeks to improve corporate governance and compliance with international standards, as well as to enhance shareholder protection.
One of the key changes under the new Act is the introduction of the concept of "real property and housing developer companies" (RPHDCs). RPHDCs are companies which are involved in the business of developing real property for sale or for rental, and which carry on such business as their principal activity.
In order to qualify as an RPHDC, a company must:
- have at least RM20 million in paid-up capital;
- have at least 50% of its directors who are Malaysian citizens;
- have at least 60% of its shares held by Malaysians; and
- have its registered office and principal place of business in Malaysia.
RPHDCs are subject to certain additional requirements under the new Act, including the need to prepare and maintain a real property development account, and to appoint a qualified accountant to audit the account. They are also required to disclose certain information to the Registrar of Companies, and to the public, on an annual basis
One of the key changes under the new Act is the introduction of the concept of "real property and housing developer companies" (RPHDCs). RPHDCs are companies which are involved in the business of developing real property for sale or for rental, and which carry on such business as their principal activity.
In order to qualify as an RPHDC, a company must:
- have at least RM20 million in paid-up capital;
- have at least 50% of its directors who are Malaysian citizens;
- have at least 60% of its shares held by Malaysians; and
- have its registered office and principal place of business in Malaysia.
RPHDCs are subject to certain additional requirements under the new Act, including the need to prepare and maintain a real property development account, and to appoint a qualified accountant to audit the account. They are also required to disclose certain information to the Registrar of Companies, and to the public, on an annual basis
SMG GLOBAL SDN BHD - 1021797-T
GOLDEN SOURCE CODE SDN BHD - 958759-D
TERANG BINA SDN BHD - 877841-U
HASM VENTURES SDN BHD - 949934-A
EMUSE EDUCARE SDN BHD - 864992-U
DATARAN SERANTAU (FARM) SDN BHD - 806790-A
WANGSA I & I DEVELOPMENT SDN BHD - 903360-A
UNIQUE SUN PROPERTIES SDN BHD - 849918-H
KHALID & ZAITON PROPERTIES SDN BHD - 779635-U
RAN DEVELOPMENT SDN BHD - 777828-H
TEGUH MEGA JITU SDN BHD - 809069-V