Q: What are the key highlights of the changes for the newly implemented Companies Act 2016 compared to the old Act? Under the Companies Act 1965 (“Old Act”), a memorandum and articles of association (“M&A”) is required for a company to be incorporated. Under the Companies Act 2016 (“New Act”), the M&A is replaced by…
Q: What are the differences between shareholders and directors? A shareholder or member owns a company by holding its shares. A director manages the company. A director does not have to be a shareholder and a shareholder has no right to be a director. Q: What is paid-up capital? Paid-up capital is the amount of…
Q: I would like to issue shares to other potential investors to invest in my company, how could I do it? Private companies In general, for allotment of new shares of a private company to new identified investors to increase its issued and paid-up capital, the prior approval of majority of existing shareholders by way…
Q: How do I calculate the legal fee for tenancy agreement? The standard legal fees chargeable for tenancy agreement are as follows:- First RM 10,000 rental – 25% of the monthly rent Next RM 90000 rental– 20% of the monthly rent More than RM 100,000 – negotiable Legal Fee for Tenancy Agreement period of above…
Q: What is probate? Probate is the legal process of proving the last will of a deceased person to the court is valid and enforceable. The executor would need to obtain the grant of probate from the Court in order for the executor to administer and distribute all the estate of the deceased. Q: What…
Q: What is a will? A will is a legal document which a person, namely the testator, indicates his arrangement regarding to distribution of his property upon death and the care of any minor children. Q: What are the advantages of making a will? Having a will in place has the following benefits:- Avoid potential…
How do I get a divorce? If both parties agree to the divorce and terms, they may get a lawyer to file a Joint Petition. The Joint petition must state: Details of marriage and children, if any; Previous court cases relating to the marriage; Agreed terms on maintenance, custody and division of assets. If one…
Q: What are the main vehicles used in Malaysia to establish a business? There are 3 types of business entities one can choose from to start up a business in Malaysia, namely: Sole proprietorship Partnership Companies – Under the Companies Act 2016, a company can be incorporated as: a company limited by shares – the…
Importance of having an agreement for sale of business Business or asset sale is common in Malaysia. Sale of a business usually includes the assets of the business as well unless otherwise negotiated by the parties. A business sale is to be distinguished from a company sale or shares sale which involves the sale of…
