At One Glance
Entity Formation & Business Establishment
At CNP, our team of professionals is dedicated to providing you with the best solutions and recommendations regarding the type of entity that suits your needs. We also offer guidance on structuring your corporate operations effectively. Our services in this area encompass the following:
- Advisory services on the appropriate type of entity
- Corporate structure guidance
- Company formation based on Companies Act
Furthermore, at CNP, we offer a comprehensive range of services to support businesses and entities in corporate governance and compliance with statutory and regulatory obligations. These services include:
- Management of board and committee meetings
- Maintaining corporate records
- Managing share transfers and dividends
- Annual meeting of shareholders
- Managing subsidiaries
- Advising on corporate governance and best practices
- Implementation of corporate restructuring
Nature of Malaysian Company
Malaysia Limited Liability Company (be it Sendirian Berhad, or Berhad) is detached from another individuals or businesses with respect to accountability, these are also separate legal existence to two:
- Shareholders – those who own the company
- Directors – those who operate the company
The company will continue in existence until it is removed from the Registrar. This would mean that another person can legally enter into contract, acquire, and own property in the name of the company. The property owned by a company can be motor vehicles, machineries, intangible assets, lands, both residential and commercial properties, and many more.
Private company can be incorporated and operated by a single resident director (public company with minimum of 2 resident directors). Private company can have a minimum of 1 shareholder and a maximum of 50 shareholders. Public company allows more than 50 shareholders. Shareholder can be a natural person or corporate.
The biggest benefit of forming your own company is limited liability protection. Simply put, your personal assets are secured against your company’s liabilities.
Requirements of Malaysian Company
To start a Malaysian company, you only need a minimum of RM1 paid up capital. The company must have at least one shareholder subscribed to the shares of the company. The shareholder applies even to non-Malaysians. However, there are certain industries requiring partial local shareholding. In the case of such, an additional local shareholder will be needed.
You would need at least one director who is of legal age and is a currently residing in Malaysia. The director must not be a bankrupt, or a convict who has been imprisoned more than 5 years.
On top of a shareholder and a director, you would also need at least one company secretary. The company secretary must be a member of Malaysian recognised professional bodies, or licensed by the Companies Commission of Malaysia.
Last but not least, the company must have a registered address in Malaysia. It is of normal practice to have the secretarial office as the registered office.
At One Glance
Corporate Governance, Compliance & Secretarial Services
Here at CNP Group, services to support businesses and all entities in corporate governance and compliance with statutory and regulatory obligations are provided. These services include corporate restructuring and all corporate actions. These services are listed as such:
- Management of board and committee meetings
- Maintaining corporate records
- Managing share transfers and dividends
- Be the governance liaison for officers and directors
- Advising on compliance pertinent to relevant laws and regulations
- Annual meeting of shareholders
- Managing subsidiaries
- Advising on corporate governance and best practices
- Implementation of corporate restructuring