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Q&A for Starting a Travel Agency in Malaysia
What are the general requirements for setting up a travel agency in Malaysia? What is the Travel & Tours Management Course (“TTMC”)? TTMC is a mandatory 2-days course for new travel and tour operators focusing on providing knowledge and skills related to the tourism and travel industry, including areas such as tourism management, travel agency operations, tour guiding, hospitality management, destination management, and related topics.
Declaration of Dividend by a Malaysia Company
Generally, companies are formed to make profits for its members. No express power is required in its constitution to distribute profits to its members. There is also no rule that all profits must be distributed. A payment of profits of a company to its members is called a dividend. A dividend is a share of profits in a company, i.e. a distribution of a company’s net profits which are payable to shareholders in the proportion to their shareholdings
Allotment of Shares by Malaysia Companies
Having an effective and reliable method of obtaining adequate capital for operations and expansion is a core business requirement for all companies. Whenever the company requires funds for a certain purpose, the allotment of shares is the most common strategy for obtaining a capital injection.
Foreign Equity Acquisition in Vietnam
Foreign investors may enter the Vietnam market through an equity acquisition of an existing Vietnamese enterprise (hereinafter referred to as “foreign equity acquisition”) in addition to setting up a foreign invested enterprise in Vietnam directly. Currently, Vietnam has not yet enacted any special laws or regulations on foreign equity acquisition.
Q&A Regarding Setting up a Restaurant in Malaysia
What are the popular locations for opening a restaurant in Malaysia? What type of company and minimum capital are required for foreigner to set up a restaurant in Malaysia? Besides the WRT License, what other licenses are required for opening a restaurant? What are the requirements of the restaurant’s signboard?
The Importance of Constitution of Malaysian Companies
The company’s Constitution is a legal document which sets out the objects and powers of a company and also governs internal affairs and management of the company. Under the Malaysian Companies Act 2016 (CA 2016), the M&A is replaced by Constitution. A company has the option of whether to have a Constitution as the CA 2016 has set out rights, powers, duties and obligations of company’s directors and shareholders which can be used in the absence of a Constitution.
Guide to Audit Exemption of Private Companies in Malaysia
Pursuant to Section 267(2) of the CA 2016, the Registrar shall have the power to exempt any private company from the requirement to appoint an auditor for each financial year of the company. Practice Directive No. 3/2017 issued by the Companies Commission of Malaysia (CCM) has set out the qualifying criteria for certain categories of private companies from having appoint an auditor in a financial year, i.e. audit exemption.
Transmission of Shares in Malaysia
In Malaysia, the Companies Act 2016 (“CA 2016”) recognise the distinction between “transfer” and “transmission” of shares. Both transfers and transmissions of shares are pivotal transactions that entail changes in ownership in a private company. One significant difference between a transfer and transmission of shares under the CA 2016 is that a transfer of shares is a voluntary act by the holder of shares by way of contract
Introduction to Malaysia Digital Status
Since its introduction in 1996, Multimedia Super Corridor (MSC) Malaysia has catalysed and transformed Malaysia into a knowledge-based economy. MSC Malaysia, driven by Malaysia Digital Economy Corporation (MDEC) as the nation’s lead digital economy agency, has contributed immensely towards the growth of the nation’s digital economy.
Main Difference between RO and LLC in Vietnam
The establishment of a Representative office (RO) and limited liability company (LLC) are two common forms of foreign direct investment in Vietnam. The main differences between the two forms are as follows: The company bears its own liabilities. Parent company bears liabilities. LLC Can engage in any registered business activities that are not prohibited by local laws.