Incorporate Your Business in Malaysia by registering a Berhad (Bhd.) @ RM 3,210.40 inclusive of SST charges.
We would like to offer and share our expertise in the Bhd. registration to all future entrepreneurs as we encourage doing business through legal compliance method.
Berhad Company (Berhad) which is known as Malaysian Public Limit are known to have the follow structure:
i. companies limited by shares;
ii. regulated by Companies Act, 2016;
iii. separate legal entity like a normal human being where it can own, borrow, rent, sue, be sued and owns estate with using the owners' name;
iv. shareholders more than 50 person (public or private);
v. can be listed at BURSA through following compliance issued by Securities Commission Malaysia (SCM);
vi. Berhad company to continue function regardless the any changes to the owner even death unless to strike off through procedure by SSM.
The incorporation could be done within 3 to 4 working days but beforehand please get prepared on this required info as below:
i. A minimum of 2 directors (IC & Email add) who have a residential address in Malaysia;
ii. A minimum of 2 shareholders (IC & Email add) to complete the incorporation however directors and shareholders can be the same person;
iii. Appointment of at least a CoSec be it in-house or external;
iv. To hold company's statutory meeting within 3 months from the date on the incorporation certificate and the preparation of Statutory Report (Section 142) Sample: FORM 51. Statutory Report. (COMPANIES REGULATIONS, 1966 - P.U. 173_66)
v. Company's activities and business address if any (supported by tenancy agreement);
vi. Our standard retainer fees is RM 70.00 monthly;
vii. All company's activities will be refer to our standard pricing.
The Incorporation services of a Public Limited Company (Bhd.) service package includes the stated:
a.Checking on availability of company registration name for 2 times (FOC) and an additional of RM 100.00 for 3rd subsequent name search;
b.Appointment of directors (minimum is 2 and up to 4 directors during incorp);
c.Allotment of of company paid up (minimum RM 2);
d.Standard online registration at SSM;
f.Submission of Form 49 (section 14), 44 (section 14), 24 (section 14) & 9 (section 17) to SSM after registration;
g.Preparing of 1st meeting minutes for board of directors and appointment of auditor;
h.Preparing resolution for the company to open bank account (maximum 2 accounts);
i.3 sets of certified true copies of incorporation documents (including E-copies of the Form 9 (section 17), 49 (section 14), 44 (section 14) & 24 (section 14);
j.Using our registered business address as your Registered Office Address;
k.Free consulting on company's incorporation related matters & shares methodology;
l.Inclusive of company chop, common seal, share certificate book, minutes book & register book;
m.Free compliance business checklist info http://www.cwca.com.my/blog/sdn-bhd-compliance-checkup-checklist/ on the need-to-do matters while doing business in Malaysia;
n. With refer to the new Companies Act 2016, a public limited company (Bhd.) will be owned by at least TWO directors;
o. To prepare a statutory meeting report for the Company's first statutory meeting. FORM 51. Statutory Report. (COMPANIES REGULATIONS, 1966 - P.U. 173_66)
At the end of the financial year, the Company is required to:
i. Completion of Audit report before AGM of the Company;
ii. To have AGM of the Company;
iii. Lodging the Company's Annual Report to SSM.
A short read on listing at Bursa Malaysia Listing & Requirements:
In Malaysia, there are 2 markets: Main Market where the big companies are doing the fund raising and shares trading with public as such Sunway Group, Petronas and banks while ACE markets where companies are thriving to grow with the ultimate aim in entering Main market. Technically, all companies are free to apply for listing as long the company is proven in having growth positively.
Requirements for Main market:
i. Having profit figure and uninterrupted profit after tax of 3 to 5 full financial years with an aggregate of minimum of RM 20 million and a minimum of RM 6 million profit after tax in the latest full financial year.
ii. The company is able to fulfill the Market Capitalization Test (Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) where the company is able to offer RM 500 million in total of market capitalization once listed in public upon incorporation where at the same time, producing operation revenue of 1 full financial year before application for public listing.
iii. The company is to submit the details for Infrastructure Project Corporation Test where the company is able to construct an infrastructure either in Malaysia or outside Malaysia with a minimum of RM 500 million of project's costing.
iv. Post IPO: The company will need to issue a minimum of 25% of the company 's shares to the public.
v. Timeline for listing: 6-12 months with costing of RM 2 million to RM 3 million.
vi. The company requires 1,000 public shareholders with issuing price at least RM 0.50 or higher.
vii. Allocation of 50% of the public spread on bets effort basis.
Requirements for ACE (Access, Certainty, Efficiency) market:
i. The company to have paid-up capital approximately RM 5 million to RM 10 million.
ii. No minimum operating track record or profit requirements.
iii. Post IPO: The company will need to issue a minimum of 25% of the company's shares to the public.
iv. Timeline for listing: 4-6 months with costing of RM 1.5 million to RM 2 million.
v. The company requires 200 public shareholders with holding at least 100 shares where the issuance price at least RM 0.10.
vi. Allocation of 12.5% when enlarging paid-up to Bumiputera investors after 5 years of listing.
Requirements for LEAP (Leading Entrepreneur, Accelerator Platform) market:
i. It is preferred with profit record but not mandatory.
ii. Public spread at least enlarging 10% but without minimum shareholder.
iii. Optional allocation to Bumiputera's equity.
iv. Company needs to demonstrate solvency under CA 2016.
To list your business on Bursa Malaysia, the following documents for our research work are needed:
i. Last 5 years audited financial statements;
ii. Latest management accounts;
iii. Net profit forecast and projection for the next 3 years (rough estimation)
iv. Estimated funds size required and expected utilization of proceeds, e.g. for capital expansion, working capital requirements, details of potential acquisition, etc; and
v. Company profile and its shareholding structure.