Companies Act 2024: Good for Malaysia

The Companies (amendment) Act 2024 came into force on 1st April this year. With that all entities have until 30th June to submit information on their beneficial owner to the Companies Commission of Malaysia. The Act also improves on previous regulations regarding the definition and also reporting framework of beneficiaries. Ranjit Singh, senior litigation partner of Ranjit Singh & Yeoh explains the mechanics of this and why this is a step in the right direction.

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