For first time home buyers, there is nothing more confusing than to sign up for your first housing loan. After your housing loan application has been approved by the bank of your choice and before proceeding to the signing of the Loan Agreement, the bank will issue a letter of offer. This, as a basic…
Malaysia follows the system of registration of title and hence the title is everything. This means that legality of the property and the legality of the vendor is spelt out in the title itself. The first thing a purchaser should do in acquiring a property is to conduct a land search or engage a lawyer to conduct…
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…
The 14th General Election (“GE14”) is before us. However, the Election Commission has fixed the polling to be held on 9th May 2018, a Wednesday. At the time of writing, there is no indication from the caretaker Federal Government on whether 9th May 2018 will be designated as a public holiday. Leaving aside the question of the propriety…
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…
