6 common mistakes of Sdn Bhd under the Companies Act 2016

6 common mistakes of Sdn Bhd under Companies Act 2016

1. Section 30 (1) :

The company does not display the company's name and registration number at the places where the business is carried on (signboard)

2. Section 30 (2) :

The company does not specify the name and registration number on all business documentation and correspondence.

3. Section 68 (1):

The company fails to lodge the yearly annual return within 30 days from the anniversary date of incorporation.

4. Section 248 (1):

Directors fail to prepare financial statements within

(a) 18 months from the incorporation date;

(b) 6 months from the subsequent financial year end.

5. Section 258 (1) (a):

Failure to circulate the financial statements within 6 months from financial year end.

6. Section 259 (1) (a):

The company fails to lodge yearly financial statements within 30 days from the circulation date.

Non-compliance with any of the above sections is subject to penalty.

Penalty ….to be revealed in the next posting

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