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Requirement of Setting Up Public Limited by Shares (Non-Listed) for Local
Your eligibility as Director(s)

1) Malaysian/ Foreigner

2) At least 2 Directors reside in Malaysia

3) Age of 18 and above

4) Not bankrupt

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Documents needed

1) Photocopies of NRIC/Passport

2) Proof of Residence (For foreigner)

3) Authorised Letter (if your proposed name has trademark/ Controlled Words)

When can the Company commence business?

1. A Public Company with share capital which has not issued a prospectus inviting the public to subscribe for its shares or has not issued a prospectus under the Capital Markets and Services Act 2007, shall not commence any business or exercise any borrowing power until:-

  • A statement in lieu of prospectus which complies with the Companies Act 2016 has been lodged with the registrar;

  • A statutory declaration verifying the requirements under the relevant paragraphs in Companies Act 2016 have been complied with.

 

2. The Company shall become entitled to commence business or exercise any borrowing powers after lodgement of the statutory declaration with the Registrar.

Annual Obligations of Public Companies Limited by Shares

1. Annual Return
File with the Registrar each calendar year not later than thirty (30) days from the anniversary of its incorporation date. 
 
2. Financial Statements and Reports
Financial statements and reports are to be circulated to members at least 21 days before the date of Annual General Meeting (AGM) of the Company. A copy of the financial statements and reports shall be lodged with the Registrar within thirty (30) days from the date of its Annual General Meeting (AGM). 
 
3. Annual General Meeting (AGM)
Every Public Company is compulsory to hold AGM as follow:-
- Within 18 months from its incorporation for first AGM;
- Within 6 months of the Company’s financial year end and not more than 15 months after the last preceding AGM (whichever is earlier).
 
4. Annual Tax Return
Under the self-assessment system, submission should be made within seven (7) months from the end of the accounting period of the company which constitutes the basis period for the year of assessment.

5. Form E 
Form E is a declaration report submitted by every employer to inform the Inland Revenue Board (IRB) on the number of employees and the list of employee's income details every year not later than 31st March.

©2022 by ASI Secretarial Services Sdn. Bhd. (199501010974 (340175-U))

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