Companies Act 2016 and its impact to Businesses in Malaysia
Nabil Nazrin, Legal Counsel, Malayan Banking Berhad, Malaysia
Existingly, one can establish a business in Malaysia either by way of a sole proprietorship business, partnership business, Limited liability partnership business or as a company. Partnerships are governed by the Partnership Act 1961 whereas Limited liability partnerships are governed by the Limited Liability Partnership 2012. Companies formed in Malaysia were previously governed by the Companies Act 1965 ("CA 1965"). There are advantages and disadvantages in each type of business, depending on the criteria and risk appetite that one is looking at.
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