Tuesday, 15 August 2017
High Performance Culture in Organization
TOP 10+ KEY ELEMENTS IN CREATING A HIGH PERFORMANCE CULTURE
HIGH PERFORMANCE CULTURE ARE NOT DEPENDENT ON ONE SIMPLE FACTOR
High performance culture are not dependent on one simple factor or as a result of one or two things. The entire context you operate in greatly impacts your results. This context includes the culture of the company – how things get done, how decisions get made, what works and does not work as far as behaviors and what gets rewarded and how.
The key to building a high-performing culture is to make sure you consider “‘what“ and “how“ you will get to your destination points – the clear definitions of where you are going in a specific time-frame.
The specifics of a high performance culture are unique to your company because they are based on what will work best for you to get you to where you want to go within the parameters you have defined. There is no ‘one size fits all’ when it comes to culture.
CREATING A HIGH PERFORMANCE CULTURE
However, here are 10 key elements in creating a high performance culture that probably will fit most organizations:
# 1 – CLEARLY DEFINE WHAT WINNING LOOKS LIKE
Look across the entire organization and define what it looks like from a variety of perspectives – sales, marketing, customer service, procurement, finance etc.
#2 – SPELL OUT YOUR “PREFERRED CULTURE”
In the same way that leaders shape and communicate a vision, they also spell out a picture of the culture they are striving for.
This can often be just a set of guiding principles or values, but the best seem to go further by establishing preferred behaviors that support these values: Which aspects of our current culture are we happy/unhappy with? What preferred behaviors do we need to create the culture we want? What behaviors actually get rewarded round here? Which unacceptable behaviors are actually tolerated here? How do we measure up against each of our preferred behaviors?
#3 – SET STRETCH TARGETS
Employees tend to rise to the standard set for them. The more you expect, the more they will achieve. But there is a fine line between good stretch targets, which can energize an organization, and bad ones, which can dampen morale
#4 – CONNECT TO THE BIG PICTURE
The majority of employees want to be a part of a compelling future, want to know what is most important at work and what excellence looks like. For targets to be meaningful and effective in motivating employees, they must be tied to larger organizational ambitions. Employees who don’t understand the roles they play in company success are more likely to become disengaged. No matter what level the employee is at, he should be able to articulate exactly how his efforts feed into the broader company strategy
#5 – DEVELOP AN OWNERSHIP MENTALITY
When individuals understand the boundaries in which they can operate, as well as where the company wants to go, they feel empowered with a freedom to decide and act, and most often make the right choices. They begin to think and act like an “owner”
#6 – IMPROVING PERFORMANCE THROUGH TRANSPARENCY
By sharing numbers with employees, you can increase employees’ sense of ownership. However, being open is not enough. You need to be sure your employees are trained to understand financial statements and have enough insight into their own jobs to know how to affect the numbers. Focus on additional metrics besides the financial ones. Employees who are not in the financial world will be able to relate better to the results and will feel more included in the process
#7 – INCREASE PERFORMANCE THROUGH EMPLOYEE ENGAGEMENT
Employees who are engaged put their heart and soul into their job and have the energy and excitement to give more than is required of the job. Engaged employees are committed and loyal to the organization
#8 – STORYTELLING
Storytelling can be a powerful tool when you want to drive organizational change and performance improvement. The leaders must be able use stories to motivate their employees to achieve more than they thought possible
#9 – INTERNAL COMMUNICATION
Internal communication need to be on the top of the agenda – Have they heard the message? Do they believe it? Do they know what it means? Have they interpreted it for themselves, and have they internalized it?
#10 – TAKING THE TIME TO CELEBRATE
Do remember to celebrate milestones once they have been reached. Taking the time to celebrate is important because it acknowledges people’s hard work, boosts morale and keeps up the momentum. If you want something to grow, pour champagne on it
CULTURE EATS STRATEGY FOR BREAKFAST
High-performance organizations do not take their culture for granted. They plan it, monitor it and manage it so that it remains aligned with they want to achieve. Do remember the famous words of Peter Drucker: Culture eats strategy for breakfast.
PLEASE LOOK AT SLIDE PRESENTATIONS BELOW:
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Tuesday, 23 May 2017
Wednesday, 22 March 2017
Friday, 3 March 2017
Snapshots of Companies Act 2016
Malaysia company laws have become truly modernized when the changes made to the Companies Act 2016 (Act 777). The changes came into effect since Jan 31 and comprise of 620 provisions for Act 777 compared with 350 provisions previously. The main aim of the changes is to examine the whole process and simplify or remove some of the procedures to ensure a speedy incorporation process. According to experts, it gives positive move for entrepreneurs as well as small medium enterprise (SME) owners because the new provisions will lower costs and improve the ease of doing business.
1. Incorporation of Companies
a. Easier process for companies to be incorporated
b. Introduction of single shareholder and single director companies
Only one person and one director are required for incorporating a private company, compared with at least two directors and two shareholders previously.
That person can also serve as the director. The provisions are also intended to protect shareholders in private companies and public-listed firms.
For example, a company that wants to restructure its share composition via capital reduction is required to make a solvency statement to be approved by
shareholders before the exercise can be carried out.
c. Common seal and share certificate becomes optional
d. Particulars required
e. Effect of CA 2016 on M&A (No more Memorandum and Articles of Association)
f. Effect of CA 2016 on Company Secretary at formation stage
It allows individuals to complete the incorporation without requiring a company secretary to do so.
g. No Annual General Meeting for private companies
The companies will enjoy the abolition of the mandatory requirement to hold an AGM for private companies.
h. Abolishing the unanimity rule for written shareholder resolutions
The above changes will reduce the administration cost incurred by the company.
2. Share Capital and No Par Value regime
a. CA 2016 impact on share capital
b. Introduction to No Par Value Regime
c. Implications on accounting
d. Double entry effects
e. Share premium account
3. Duties and responsibilities of Directors
a. Brief on Duties and responsibilities of Directors
It ensures that the directors’ responsibilities have been carried out and that their fiduciary duties are met. This also ensures that there are no passive directors.
b. Enhanced corporate governance requirements
Officers and company directors will be held to a much higher standard of governance and accountability.
shareholders stand to benefit from the liberalisation of proxy requirements, as well as new provisions to account for related-party transactions made by company executives and discloure principles to avoid conflicts of interest.
c. Effects on audit
4. Impact on Accounting – Financial Statements and Report
a. Requirements on Approved Accounting Standards and its effect on Financial Statements
b. System of internal control
c. Disclosure requirements in financial statements
d. Contents of Directors’ Report
e. Time allowed for sending out copies of financial statements and reports
5. Impact on Auditors
a. Provisions relating to Private Company
b. Appointment of auditors
c. Terms of office
d. Provisions relating to Public Company
e. Appointment of auditors
f. Terms of office
g. Auditor’s remuneration
h. Procedure to appoint auditor
i. Removing auditor from office
j. Resignation of auditor (including rights of resigning auditor)
k. Attendance of auditors where financial statements are laid
l. Audit exemption clause in CA2016
The changes will benefit those aspiring to start a company where they enjoy
A template has been introduced to allow
According to the Companies Commission of Malaysia
The new laws are on par with global standards and ensure that the route for starting a business in Malaysia is more competitive, which, in turn, will attract more investments and promote the growth of SMEs in the country, it added.
“We welcome the move, as it means our company laws have become truly modernised. It is easier to start a company and we foresee a lot of entrepreneurs and SMEs benefitting from this,” said Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) deputy secretary-general II Michael Chai.
Under the new provisions,
Moreover,
Another major shift for Malaysian corporations is that
“dded Chai, who is also ACCCIM’s legal affairs committee chairman.
According to the Companies Commission (Amendment) Malaysia Act 2015 (Act A1478), which also came into force since Jan 31, potential penalties for corporate malfeasance include a fine of up to RM5mil, as well as a prison sentence of up to 10 years.
Criminal sanctions can also be imposed on officers responsible instead of the company.
Another legal expert noted that the issue of personal liabilities in regard to the Companies Act 2016 provisions was a challenging one.
“Shareholders often complain that if an officer commits a misconduct, it is the company that is fined. When this is the case, shareholders are the ones being punished, as the shareholders’ funds would be depleted.
“The move to make directors or officers-in-charge liable is a dramatic one, as how do you make a decision between someone who intentionally commits a wrongdoing and those who are negligent? You must also balance the fact that if this is overdone, then good people may not want to serve on the board due to the exposure to personal liabilities,” said Mah-Kamariah & Philip Koh senior partner Philip Koh Tong Ngee.
However, he noted that the core provisions under the Companies Act 2016 would enhance shareholders’ engagement with the management. The new laws also took into account new technological developments to reflect the realities of doing business in the 21st Century, he added.
Read more at http://www.thestar.com.my/business/business-news/2017/02/02/doing-business-with-ease/#ABrherIs08mIQErE.99
ARM's LENGTH
What is an 'Arm's Length Transaction'
The transactions between affiliated firms must be made purely on commercial basis both firms trying to maximize their advantage, and neither firm accommodating or favoring the other in any way.
It is the description of an agreement made by two parties freely and independently of each other, and without some special relationship, such as being a relative, having another deal on the side or one party having complete control of the other. It becomes important to determine if an agreement was freely entered into to show that the price, requirements, and other conditions were fair and real. Example: if a man sells property to his son the value set may not be the true value since it may not have been an "arm's length" transaction.
The arm’s length principle requires that transaction with a related party be entered into under comparable conditions and circumstances as a transaction with an independent party. It is founded on the premise that when market forces drive the terms and conditions agreed to in an independent party transaction, the pricing of the transaction would reflect the true economic value of the contributions made by each party to the transaction. Essentially, this means that if two associated enterprises derive profits at a level above or below the comparable market level solely by reason of the special relationship between them, the profits will be deemed non-arm’s length. In such a case, the tax authorities may make the necessary adjustments to the taxable profit of the related parties in their jurisdiction so as to reflect the true value that would otherwise be derived on an arm’s length basis.
Click here and Deloitte: Arm's length standardfor more.
Wednesday, 1 February 2017
COMPANIES ACT 2016: IN STAGES OF IMPLEMENTATION
The Companies Act 2016 (CA 2016) will be implemented over several stages, starting with phase one which came into effect on Jan 31.
The Companies Commission of Malaysia (SSM) said on Wednesday that with the enforcement of the first phase, the Companies Act 1965 is hereby repealed.
However, it pointed out that several provisions in the CA 2016 which have yet to be effective are:
Section 241 – provision relating to the requirement for company secretaries to register with Registrar; and
Division 8 of Part III – provisions relating to corporate rescue mechanisms on corporate voluntary arrangement and judicial management.
SSM said a company may be incorporated by or have only one member and that single member can also be the sole director of the company. However, for public companies, the CA 2016 still retains the minimum requirement of two directors.
The CA 16 also sees the change of “certificate of registration” to “notice of registration”
SSM will issue a notice of registration for the incorporation of a new company to confirm that provisions relating to the requirements for registration have been complied with in line with the requirement of the law.
Under the CA 2016, a company does not have to state its authorized capital. Instead, a company is required to notify its issued share capital and paid-up capital and the related changes through the return of allotments.
It said from Jan 31, 2017, any newly issued share will no longer be tied with the nominal value when the company was incorporated. A company may issue shares at a price depending on the factors affecting the current circumstances and needs of the company.
SSM also pointed out that a company incorporated from Jan 31, 2017, has the option whether to adopt a constitution or otherwise.
For a company which was incorporated before the CA 2016 came into effect, the existing constitution (memorandum & articles of association) will continue to be applicable to such companies until the companies resolve otherwise. However, it is still mandatory for a company limited by guarantee to have a constitution.
Effective from Jan 31, 2017, a company has the option to have a common seal. Execution of documents must comply with the procedures outlined under Division 9 of Part II including situations when a company decides to have a common seal.
Beginning from Jan 31, 2017, all private companies are no longer required to hold annual general meetings. Instead all decisions of private companies can be fully made through circular resolutions.
Under the CA 2016, the requirement to lodge Annual Returns is based on the anniversary of the incorporation of a company, and the date for the lodgement of Financial Statements is no later than seven months from the financial year end of the company.
SSM advised the owners of the company to take into account of the changes when reviewing, formulating or implementing policies and procedures which may affect companies when dealing with the ministry/department/agency/organisation.
It also said this was to ensure that the business friendly policies which are contained in the CA 2016 can be implemented efficiently and the benefits could be enjoyed by the business community in general.
Apart from the CA 2016, SSM will also enforce the Interest Schemes Act 2016 from Jan 31, 2017.
The Interest Schemes Act regulates the offering of interest schemes as an alternative to fund raising activities for companies. The provisions in the Interest Schemes Act were previously contained in the Companies Act 1965.
Source:http://www.thestar.com.my/business/business-news/2017/02/01/phase-one-of-companies-act-2016-comes-into-effect/#d7gkrRTmf74xkXbD.99
A BIRD VIEW OF COMPANIES ACT 2016
OBJECTIVES OF REVISING THE COMPANIES ACT in Malaysia
1. To provide a regulatory framework to facilitate starting a business and reduce cost of doing business
2. Accord protection to corporate directors and other stakeholders of a company
3. Enhance internal control, corporate governance and corporate responsibility
4. Provides flexibility in managing affairs of companies
5. Simplification of compliance provisions
KEY EFFECTS OF THE MALAYSIA COMPANIES ACT 2016
1. Companies will no longer be required to state its authorised share capital
2. Simplify laws and procedures for companies, promoters may incorporate companies
3. Introduction of single member / director company
4. Company may adopt M&A and A&A after incorporation
5. Abolish requirement for private companies to hold Annual General Meeting
6. Power of members to require circulation of statements
7. Migration towards no par value regime
8. Introduction of members’ right for management review
9. Introduction of corporate rescue mechanism through Judicial Management & Corporate Voluntary Arrangement to rehabilitate companies
10. Reforming policies relating to share buyback and financial assistance via introduction of solvency test
11. Introduction of Business Review Report
12. Introducing alternative procedures for reduction of capital through solvency statements
13. Dividends can only be distributed out of profits and is only allowed if it meets solvency test
14. Remuneration of directors of public companies to be sanctioned
15. Abolish the maximum age for directorship
16. Statutory declaration by promoters / directors to be replaced with statement of compliance
17. Increased sanctions on directors and secretaries for breaches under the Act, which include heavier fines and longer terms of imprisonment.
Snapshots of THE MALAYSIA COMPANIES ACT 2016
1. Single member company
Single member can also be the sole director
Public company must have at least 2 directors
2. Simplified incorporation process
Superform – No more multiple forms
M&A at point of incorporation is optional
Secretary at point of incorporation is optional
Notice of registration is conclusive evidence
3. Effect of incorporation
Company is a body corporate with legal personality separate from its members
Has full capacity to undertake any business activities
4. Evidence of membership
Entry of names of members in the register of members
Share certificate is optional
5. Execution of documents
Use of common seal is optional
Document may be executed by authorized officers
6. Other requirements
i. Appointment of Company Secretary within 30 days after incorporation
ii. New requirement for all Company Secretaries to register with Registrar and once registered, a practicing certificate will be issued
iii. In the event office of sole director or last remaining director becomes vacant due to death, disqualification or otherwise vacation of office,the Company Secretary is responsible to call for a meeting of next of kin or personal representatives for the purposes of appointing new director. If new director is not appointed within 6 months, the Registrar may direct to strike the company off the register.
iv. Introduction of business review report (internal control and corporate responsibility report) to be part of directors’ report
v. Members must be given reasonable opportunity at meeting to question, discuss.
vi. The Registrar has power to exempt certain categories of private companies from having to appoint auditor
vii. No requirement to hold AGM for private companies and main method to make decision will be via written resolution.
viii. Meeting at multiple venues is allowed but main meeting venue shall be in Malaysia where the chairperson is present
ix. Share will be issued without par value and will be issued at a price.
x. Transitional period of 24 months will be given to companies to utilize the amount standing in credit in company’s share premium account.
xi. Annual return to be lodged within 30 days of anniversary of incorporation date
xii. De-coupling of requirement to lodge audited accounts and annual return
xiii. In case of private company, audited accounts to be lodged within 30 days from time circulated to members
1. To provide a regulatory framework to facilitate starting a business and reduce cost of doing business
2. Accord protection to corporate directors and other stakeholders of a company
3. Enhance internal control, corporate governance and corporate responsibility
4. Provides flexibility in managing affairs of companies
5. Simplification of compliance provisions
KEY EFFECTS OF THE MALAYSIA COMPANIES ACT 2016
1. Companies will no longer be required to state its authorised share capital
2. Simplify laws and procedures for companies, promoters may incorporate companies
3. Introduction of single member / director company
4. Company may adopt M&A and A&A after incorporation
5. Abolish requirement for private companies to hold Annual General Meeting
6. Power of members to require circulation of statements
7. Migration towards no par value regime
8. Introduction of members’ right for management review
9. Introduction of corporate rescue mechanism through Judicial Management & Corporate Voluntary Arrangement to rehabilitate companies
10. Reforming policies relating to share buyback and financial assistance via introduction of solvency test
11. Introduction of Business Review Report
12. Introducing alternative procedures for reduction of capital through solvency statements
13. Dividends can only be distributed out of profits and is only allowed if it meets solvency test
14. Remuneration of directors of public companies to be sanctioned
15. Abolish the maximum age for directorship
16. Statutory declaration by promoters / directors to be replaced with statement of compliance
17. Increased sanctions on directors and secretaries for breaches under the Act, which include heavier fines and longer terms of imprisonment.
Snapshots of THE MALAYSIA COMPANIES ACT 2016
1. Single member company
Single member can also be the sole director
Public company must have at least 2 directors
2. Simplified incorporation process
Superform – No more multiple forms
M&A at point of incorporation is optional
Secretary at point of incorporation is optional
Notice of registration is conclusive evidence
3. Effect of incorporation
Company is a body corporate with legal personality separate from its members
Has full capacity to undertake any business activities
4. Evidence of membership
Entry of names of members in the register of members
Share certificate is optional
5. Execution of documents
Use of common seal is optional
Document may be executed by authorized officers
6. Other requirements
i. Appointment of Company Secretary within 30 days after incorporation
ii. New requirement for all Company Secretaries to register with Registrar and once registered, a practicing certificate will be issued
iii. In the event office of sole director or last remaining director becomes vacant due to death, disqualification or otherwise vacation of office,the Company Secretary is responsible to call for a meeting of next of kin or personal representatives for the purposes of appointing new director. If new director is not appointed within 6 months, the Registrar may direct to strike the company off the register.
iv. Introduction of business review report (internal control and corporate responsibility report) to be part of directors’ report
v. Members must be given reasonable opportunity at meeting to question, discuss.
vi. The Registrar has power to exempt certain categories of private companies from having to appoint auditor
vii. No requirement to hold AGM for private companies and main method to make decision will be via written resolution.
viii. Meeting at multiple venues is allowed but main meeting venue shall be in Malaysia where the chairperson is present
ix. Share will be issued without par value and will be issued at a price.
x. Transitional period of 24 months will be given to companies to utilize the amount standing in credit in company’s share premium account.
xi. Annual return to be lodged within 30 days of anniversary of incorporation date
xii. De-coupling of requirement to lodge audited accounts and annual return
xiii. In case of private company, audited accounts to be lodged within 30 days from time circulated to members
Effects of Companies Act 2016
There are several effects of CA 2016, for example:
1. Incorporation of Companies
a. Easier process for companies to be incorporated
b. Introduction of single shareholder and single director companies
c. Common seal and share certificate becomes optional
d. Particulars required
e. Effect of CA 2016 on M&A (No more Memorandum and Articles of Association)
f. Effect of CA 2016 on Company Secretary at formation stage
g. No Annual General Meeting for private companies
h. Abolishing the unanimity rule for written shareholder resolutions
The above changes will reduce the administration cost incurred by the company.
2. Share Capital and No Par Value regime
a. CA 2016 impact on share capital
b. Introduction to No Par Value Regime
c. Implications on accounting
d. Double entry effects
e. Share premium account
3. Duties and responsibilities of Directors
a. Brief on Duties and responsibilities of Directors
b. Enhanced corporate governance requirements
c. Effects on audit
4. Impact on Accounting – Financial Statements and Report
a. Requirements on Approved Accounting Standards and its effect on Financial Statements
b. System of internal control
c. Disclosure requirements in financial statements
d. Contents of Directors’ Report
e. Time allowed for sending out copies of financial statements and reports
5. Impact on Auditors
a. Provisions relating to Private Company
b. Appointment of auditors
c. Terms of office
d. Provisions relating to Public Company
e. Appointment of auditors
f. Terms of office
g. Auditor’s remuneration
h. Procedure to appoint auditor
i. Removing auditor from office
j. Resignation of auditor (including rights of resigning auditor)
k. Attendance of auditors where financial statements are laid
l. Audit exemption clause in CA2016
1. Incorporation of Companies
a. Easier process for companies to be incorporated
b. Introduction of single shareholder and single director companies
c. Common seal and share certificate becomes optional
d. Particulars required
e. Effect of CA 2016 on M&A (No more Memorandum and Articles of Association)
f. Effect of CA 2016 on Company Secretary at formation stage
g. No Annual General Meeting for private companies
h. Abolishing the unanimity rule for written shareholder resolutions
The above changes will reduce the administration cost incurred by the company.
2. Share Capital and No Par Value regime
a. CA 2016 impact on share capital
b. Introduction to No Par Value Regime
c. Implications on accounting
d. Double entry effects
e. Share premium account
3. Duties and responsibilities of Directors
a. Brief on Duties and responsibilities of Directors
b. Enhanced corporate governance requirements
c. Effects on audit
4. Impact on Accounting – Financial Statements and Report
a. Requirements on Approved Accounting Standards and its effect on Financial Statements
b. System of internal control
c. Disclosure requirements in financial statements
d. Contents of Directors’ Report
e. Time allowed for sending out copies of financial statements and reports
5. Impact on Auditors
a. Provisions relating to Private Company
b. Appointment of auditors
c. Terms of office
d. Provisions relating to Public Company
e. Appointment of auditors
f. Terms of office
g. Auditor’s remuneration
h. Procedure to appoint auditor
i. Removing auditor from office
j. Resignation of auditor (including rights of resigning auditor)
k. Attendance of auditors where financial statements are laid
l. Audit exemption clause in CA2016
MALAYSIA COMPANIES ACT 2016
The Companies Act 2016 has come into operation with effect from 31 January 2017. You can follow the link for further information.
1. KERANGKA UNDANG-UNDANG /LEGAL FRAMEWORK
2. PENETAPAN TARIKH PERMULAAN KUAT KUASA/ APPOINTMENT OF DATE OF COMING INTO OPERATION
3. PERATURAN-PERATURAN SYARIKAT/COMPANIES REGULATIONS 2017
4. FREQUENTLY ASKED QUESTIONS
5. AKTA SYARIKAT 2016 / COMPANIES ACT 2016
6. SMALL SNAPSHOTS OF COMPANIES ACT 2016
1. KERANGKA UNDANG-UNDANG /LEGAL FRAMEWORK
2. PENETAPAN TARIKH PERMULAAN KUAT KUASA/ APPOINTMENT OF DATE OF COMING INTO OPERATION
3. PERATURAN-PERATURAN SYARIKAT/COMPANIES REGULATIONS 2017
4. FREQUENTLY ASKED QUESTIONS
5. AKTA SYARIKAT 2016 / COMPANIES ACT 2016
6. SMALL SNAPSHOTS OF COMPANIES ACT 2016
Thursday, 26 January 2017
Public Listing on Bursa Malaysia Board
The flotation of the company in Malaysia has to be done on BURSA MALAYSIA. Bursa Malaysia was known as Kuala Lumpur Stock Exchange (KLSE, Bursa Saham Kuala Lumpur in Malay) from its founding in 1930 when the Singapore Stockbrokers' Association was set up as a formal organisation dealing in securities in Malaya.
The first formal securities business organisation in Malaysia was the Singapore Stockbrokers' Association, established in 1930. It was re-registered as the Malayan Stockbrokers' Association in 1937. The Malayan Stock Exchange was established in 1960 and the public trading of shares commenced. The board system had trading rooms in Singapore and Kuala Lumpur, linked by direct telephone lines.
In 1964, the Stock Exchange of Malaysia was established. With the secession of Singapore from Malaysia in 1965, the Stock Exchange of Malaysia became known as the Stock Exchange of Malaysia and Singapore. In 1973, currency interchangeability between Malaysia and Singapore ceased, and the Stock Exchange of Malaysia and Singapore was divided into the Kuala Lumpur Stock Exchange Berhad and the Stock Exchange of Singapore. The Kuala Lumpur Stock Exchange which was incorporated on 14 December 1976 as a company limited by guarantee, took over the operations of the Kuala Lumpur Stock Exchange Berhad in the same year.
In 1998, as one of the attempts to weather the 1997 Asian financial crisis, it fully suspended the trading of CLOB (Central Limit Order Book) counters, indefinitely freezing approximately US$4.47 billion worth of shares and affecting 172,000 investors, most of them Singaporeans.
On 14 April 2004, Kuala Lumpur Stock Exchange was renamed Bursa Malaysia Berhad, following the demutualisation exercise, the purpose of which was to enhance competitive position and to respond to global trends in the exchange sector by making themselves more customer-driven and market-oriented. It consisted of a Main Board, a Second Board and MESDAQ with total market capitalisation of MYR700 billion (US$189 billion).
Bursa Malaysia has since then focused on various initiatives aimed at improving its product and service offerings, increasing the liquidity and velocity of its markets, improving the efficiency of its businesses and achieving economies of scale in its operations. On 18 March 2005, Bursa Malaysia was listed on the Main Board of Bursa Malaysia Securities Berhad with a 17% or RM0.50 premium over its retail price of RM3.00.
(Source: Wikipedia- Bursa Malaysia's About Us Page – Data updated as at 3 February 2016 Bursa Malaysia's About Us)
At this time, there are two types of board on Bursa Malaysia
a. Main Board:
It is for companies that have a track record of certain financial or size large enough to affect the economy of the nation.
b. Ace Board:
It is more to companies which have prospects to grow like having new technologies, but require sponsors to be eligible for listing.
There are listing requirements to be complied with accordingly, please click below:
a. MAIN BOARD
b. ACE BOARD
Wednesday, 18 January 2017
Sedekah
Jika kamu menampakkan sedeka-sedekahmu (menampakkan sedekah dengan tujuan untuk dicontohi orang lain, bukan untuk riak), maka itu baik. Dan jika kamu menyembunyikannya dan memberikannya kepadaorang-orang fakir, maka itu lebih baik bagimu dan Allah akan menghapuskansebahagiankesalahan-kesalahanmu. Dan Allah Maha teliti dengan apa yang kamu lakukan. (2:271)
Orang yang miskin itu bukanlah orang yang suka berkeliling (meminta-minta) yang pergi setelah diberi sebiji atau dua biji buah kurma, sesuap atau dua suap makanan, dan sepiring atau dua piring makanan, tetapi orang miskin yang sesungguhnya ialah orang yang cukup dirinya dan keadaannya tidak mudah diketahui untuk diberi sedekah, serta tidak pernah meminta sesuatu pun kepada orang lain. (2:273)
Orang yang miskin itu bukanlah orang yang suka berkeliling (meminta-minta) yang pergi setelah diberi sebiji atau dua biji buah kurma, sesuap atau dua suap makanan, dan sepiring atau dua piring makanan, tetapi orang miskin yang sesungguhnya ialah orang yang cukup dirinya dan keadaannya tidak mudah diketahui untuk diberi sedekah, serta tidak pernah meminta sesuatu pun kepada orang lain. (2:273)
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Malaysia company laws have become truly modernized when the changes made to the Companies Act 2016 (Act 777). The changes came into effec...
-
The Companies Act 2016 (CA 2016) will be implemented over several stages, starting with phase one which came into effect on Jan 31. The ...
