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Our clients will discover this fact when they do the printout (company profile) of their company from the SSM online system.
Our answer is: the SSM system will not show new shareholders’ names but the old shareholders’ names.
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My Company Identity Number (MyCoID) is the main component of the Business Registry System (BRS) under the National Registry System (NRS) development project introduced by Government. A Single Corporate Identity Number – MyCoID (My Company Identification) will be used to facilitate Business-to-Government (B2G) and Business-to-Business (B2B) transactions.
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Search result from SSM Online system is not complete or comprehensive. Some name search may show there is no one using the name as no result is shown. However, no result does not mean no one is using it, it could be some other reasons the name has not been displayed.
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With more complex developments in company legislation and the creation of business collaborations to result in larger groups of companies, the role of a company secretary has evolved from just a normal employee to one who is far more important in any company.
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The statutory provision under section 22(1) of the Act provides that, except with the consent of the Minister, a company shall not be registered by a name that, in the opinion of the Registrar, is undesirable or is a name, or a kind of name, that the Minister has directed the Registrar not to accept for registration.
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Below is the sample of board resolution from the Board of Directors of a Sdn Bhd Company in Malaysia.
The board resolution has been passed by the Board to open bank account with Maybank for such conditions that the bank shall honour.
It is important to state clearly what are the decisions made by the Board of Directors in the resolution.
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The objects clause is set by the shareholders for directors to conduct the company’s businesses within provision of objects clause.
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