As Bank Negara Malaysian (BNM) and Securities Commission Malaysia (SC) have issued a cease-and-desist letter to CopyCashCoin in its attempt to launch an ICO (Initial Coin Offerings) in Malaysia in January 2018, the question remaining is whether it’s possible to launch ICO (Initial Coin Offerings) in Malaysia legally? ICOs are all the rage the world…
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…
What are the main vehicles used in Malaysia to establish a business? a company limited by shares – the most common type of limited companies. A company having a share capital may be incorporated as a private company (company name ended with the word “Sdn. Bhd.”) or public company (company name ended with the word…
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…
