Speaking at the Companies Commission: Closing of Companies and LLPs

On 23 February 2017, I will be speaking at the Companies Commission of Malaysia for a talk entitled Closing of Companies and Limited Liability Partnerships. I am an associate speaker for COMTRAC, the Companies Commission of Malaysia Training Academy.

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There has been overwhelming response for this talk and the registration has already closed unfortunately. My co-speaker will be Puan Norhaslinda Salleh, Head of the Insolvency in the Registration Services Division of the Companies Commission.

The talk will be based on all the new provisions of the Companies Act 2016 as well as the Limited Liability Partnerships Act 2012. The focus will be the closing down of a business, whether it is the winding up of a company or a LLP. We will be sharing from our practical experience, and in particular, my co-speaker will be able to share from the regulator’s perspective.

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 We will cover areas on:

  1. Understand the process of winding up and its impact on the company, creditors and liquidators.
  2. Appreciate the difference in the two voluntary winding up processes.
  3. Identify the different effects of voluntary winding up on legal proceedings.
  4. Recognise the different grounds to initiate the court winding up process.
  5. Understand the court winding up process from the statutory demand until the winding up order.
  6. Be aware of the striking off procedure and to avoid striking off.
  7. How to apply for the striking off for a dormant company.
  8. Applying for the reinstatement of a struck off company.
  9. Learn on the practical issues arising from the management of assets of dissolved companies.
  10. Understand the winding up and striking off procedure for LLPs.

Choosing the right business vehicle for your startup or small business in Malaysia

This post is a part of a series based on my Law for Startups workshop at MaGIC in September 2015. It’s a basic introduction to legalities for startup founders. You can access the slides here.

Read the earlier posts for context:

  1. Law for startups in Malaysia — building on the best foundations.
  2. The legal landscape in Malaysia for startups — a hybrid of traditional corporate practices and Silicon Valley models.

One of the earliest decisions that a startup or small business founder will have to make is choosing the right business vehicle through which the business/idea will be carried out.

Business vehicle options

The most common business vehicle options in Malaysia are —

  1. sole proprietorships / partnerships;
  2. private limited liability companies (Companies / Sdn Bhd); and
  3. most recently, the limited liability partnership (LLP).
Unfortunately, Elon hasn't made this vehicle available in Malaysia yet.
Unfortunately, Elon hasn’t made this vehicle available in Malaysia yet.

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