Section 245 of the Companies Act 2016 (CA 2016) provides for a company and for its directors and manager to keep and maintain accounting and other records at the registered office of the company or such other places as the directors think fit. These accounting and other records shall at all times be open for inspection by the directors. Further, the court also may by order allow an approved company auditor acting for a director to inspect the accounting and other records of t

‘…one has to remember that a scheme of arrangement is a corporate rescue mechanism. As with other corporate rescue mechanisms, such as judicial management, it seeks to rehabilitate the company and achieve a better realisation of assets than possible on liquidation.’ Hitachi Plant Engineering & Construction Co Ltd And Another V Eltraco International Pte Ltd And Another Appeal [2003] 4 SLR 384 Consequent to the Consultative Document on the Proposed Companies (Amendment) Bill 2

In the realm of contractual agreements, the interplay between oral promises and subsequent written agreements often becomes a focal point of legal scrutiny. The Federal Court in Abd Ghani Golamdin v Universiti Utara Malaysia & 2 Ors [2023] 6 MLJ 1 examined a scenario wherein an employee received an oral commitment of additional remuneration from his superiors, and this commitment was subsequently documented in writing. A key question emerged - Would this written “agreement” s

On 10 October 2023, the Government tabled amendments to the Companies Act 2016 (CA) via the Companies (Amendment) Bill 2023. This Bill introduces, among others, a comprehensive beneficial ownership reporting framework under the new Division 8A in Part II of the CA. Proposed Amendments The key proposed amendments are as follows: 1.Criteria of Beneficial Owner Presently, Section 2 of the CA defines “beneficial owner” as the ultimate owner of the shares and does not include a no

In a move towards strengthening corporate governance and promoting high standards of integrity and accountability, the Companies Commission Malaysia (CCM) has recently issued a new Code of Ethics for Company Director and Company Secretary ( Code of Ethics ). This Code of Ethics serves as general guidelines on the ethical expectations of directors and company secretaries when carrying out their duties. This Code of Ethics supersedes the previous Code of Ethics – Company Direct