Parliament has passed the Companies (Amendment) Bill 2023, emphasizing its role in maintaining the competitiveness of Malaysia’s corporate sector and preventing its misuse for criminal activities. Deputy Minister Fuziah Salleh highlighted the bill’s focus on refining corporate governance, compromise schemes, and introducing measures for corporate rescue. The amendments, also include new provisions for reporting and disclosing beneficial ownership information, enhancing transparency and safeguarding against illicit practices in the business landscape. (Source: Malay Mail / 28 November 2023)
Malaysia Strengthens Governance and Transparency with passing of Companies (Amendment) Bill 2023
