Setting Up Non-Listed Public Company Limited by Shares (Bhd.)
Essential elements to incorporate a Non-Listed Public Company Limited by Shares
When can the Company commence business?
1. A Public Company with share capital which has not issued a prospectus inviting the public to subscribe for its shares or has not issued a prospectus under the Capital Markets and Services Act 2007, shall not commence any business or exercise any borrowing power until:-
- A Statement in lieu of prospectus which complies with the Companies Act, 2016 has been lodged with the registrar;
- A Statutory declaration verifying the requirements under the relevant paragraphs in Companies Act, 2016 have been complied with.
2. The Company shall become entitled to commence business or exercise any borrowing powers after lodgement of the statutory declaration with the registrar.
Annual Obligations of Public Companies Limited by Shares
Financial Statements and Reports
Annual General Meeting (AGM)
– Within eighteen (18) months from its incorporation for first AGM;
– Within six (6) months of the Company’s financial year end and not more than fifteen (15) months after the last preceding AGM (whichever is earlier).