Reminder for register online business with SSM Many people dabble in business online to supplement their income, but did not register company or business with the Companies Commission of Malaysia (SSM) to avoid Inland Revenue Board queries. This is an offence punishable under the Registration of Businesses Act. For those who make use of social…
Overview of Malaysia New Companies ACT 2016 The new Companies Bill 2015 (“Bill”), which will replace the current Companies Act 1965 (“Act”) as a whole and is expected to be gazzetted tentatively by end of August 2016 and its implementation shall commence as early as January 2017. OBJECTIVES OF REVISING THE COMPANIES ACT in…
Amendments to Employees’ Social Security Act, 1969 Please be informed that effective 1 Jun, 2016, The Employees’ Social Security Act, 1969 has been amended as below:- The ceiling of wage for contribution payment has been raised from RM3,000.00 per month to RM4,000.00 per month; All employees who are employed under a contract of service or…
Land Acquisition by LLP Guideline Suruhanjaya Syarikat Malaysia (SSM) has issued PN2/2016 on 6 June 2016 to clarify the requirements that need to be fulfilled relating to the acquiring of land by a limited liability partnership (LLP) and related matters. Please click here for the details of the Practice Note No. 2/2016. Related Link LLP…
Annual Declaration by a Limited Liability Partnership (“LLP”) The Companies Commission of Malaysia (“SSM”) had, on 29 February 2016, issued Practice Note No. 1/2016 “Limited Liability Partnerships Act 2012 – Requirements Relating to the Lodgement of Annual Declaration by a Limited Liability Partnership (“LLP”)“. This Practice Note serves to clarify on the areas below: Time…
6 JANUARY 2016 – MITI TO FOCUS ON HUMAN CAPITAL PROGRESS IN 2016 MITI 2016 to-do list covering national, regional and multilateral level initiatives actually kicked-off the 11th Malaysia Plan (RMK11), working with regulators in different industries/sectors that enables SMEs to grow their business through an enabling environment. National level Launch of MITI-related documents…
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