To Carry On The Business Of Joint Venture Companies in Malaysia

A joint venture company in Malaysia is a business entity that is jointly owned and operated by two or more parties. The parties can be individuals, companies, or other entities such as government agencies. The joint venture company is set up for a specific purpose and is governed by a joint venture agreement. The company is jointly liable for the debts and liabilities of the business.

The joint venture company has its own legal identity separate from the parties that own and operate it. The company can enter into contracts, own property, and sue and be sued in its own name. The joint venture company is regulated by the Companies Act 2016.

The parties to a joint venture company must contribute to the capital of the company. The contribution can be in the form of cash, property, or other assets. The parties must also agree on the management and control of the company, as well as the sharing of profits and losses.

The joint venture company must have a registered office in Malaysia. The company must also appoint at least two directors who are resident in Malaysia. The directors must be natural persons of at least 18 years of age.

The joint venture company must prepare financial statements in accordance with the Financial Reporting Standards. The company must also submit the financial statements to the