Business

Defining Islamic Banking

Posted in Blog, Business, Finance

During the early years of Islamic banking between the 1960s and 1980s, the main focus of these banks is to establish Islamic working framework within their national boundaries. There is no significant issue then that requires international attention. It is only until the creation of the inter-governmental Islamic Development Bank in 1994 that expanded Islamic finance internationally, a new banking system inspired by Islam religion principles. Today, there are more than 250 financial institutions with Islamic banking operations worldwide. The fundamental of Islamic finance industry is where...

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About 1Malaysia – Business news, info & opportunities

Posted in Blog, Business

About Malaysia Since its independence in 1957, Malaysia has been nothing short but a spectacular destination for businesses to penetrate the South East Asian market. Ideally located in between Thailand & Singapore, Malaysia is in the center of the Asian region, with its neighbours being fast-emerging economies such as Indonesia, Vietnam, Singapore, Thailand, Brunei and Philippines. Malaysia is quickly becoming one of the most important business development region in the whole of Asia – With its enactment as the Islamic hub of Asia, you can be rest assured that Malaysia is a center...

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Governance: What Should We Govern – Corporate or Its People?

Posted in Blog, Business

After the economic crisis in 1997, the need for good corporate governance mushroomed, to an extent whereby Malaysia issued its first Code of Corporate Governance in year 2000. Corporate governance is all about how the company, its employees and everyone involved with the company is managed. There are 4 pillars to corporate governance: transparency, accountability, fairness, responsibility. Compliance with the Code is not mandatory. However, listed companies are required under the Listing Requirements of Bursa Malaysia to include in their annual reports, how they have applied the principles...

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Company Formation: Documentation & Process

Posted in Blog, Business

Companies Commission of Malaysia (alternatively called Suruhanjaya Syarikat Malaysia or “SSM” in brief). This is the government body that manage and govern all companies and businesses in Malaysia. Stage 1: Document Submission Process to SSM For all company incorporation in Malaysia, the first process is to conduct a name search. This is to ensure the intended name is approved by SSM. For each name search, application is via Form 13A and fee of RM30. Result for the application will be available the next working day. Once SSM approved the use of name, the next step is to submit the following...

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Memorandum and Articles of Association

Posted in Blog, Business

Memorandum and Articles of Association Whenever a limited company applies for loans from banks, credit terms from suppliers or even as simple as opening a bank account, Memorandum and Articles of Association is one of the pre-requisite documents. Most business people know about this requirement but do know what are they for. Why is this document so important? This document governs the affairs of the limited company, consisting of 2 parts, with the first part being the Memorandum of Association and the second part being the Articles of Association. This document is issued during the...

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Business Entities Part 2 – Company Limited by Shares

Posted in Blog, Business

Business Entity (Part 2): Company Limited by Shares View other business entities » In Malaysia, the most common type of limited companies is those limited by shares. These companies are incorporated and governed by the Companies Act, 1965. Companies limited by shares will carry “Sdn Bhd”, “Sendirian Berhad” behind their names according to Section 22(4) of the Act. The meaning of private limited companies is that the liabilities of its members are limited to the amount of shares they hold in the company. For example, if Mr. Tan’s shares in a Sdn Bhd amounted to RM10,000.00, and he has fully...

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