Ba204 Corporate Which Juristic Person Assessment Answer
a) Decide on what types of business that you want to do.
b) Decide on your company name based on Guideline on Company name
c) Company types
d) Company features
e) Requirement of a company to be incorporate
f) Company Incorporation Procedures
g) Registration Fee
GENERAL INSTRUCTIONS TO STUDENTS FOR ORAL PRESENTATIONS
A. Preparation for your talk:
- Know your topic; read background information; talk to your mentor, other faculty, etc.
- Be prepared to answer questions
B. Organization of visual aids: Organize your slides with the following in mind:
- Title, affiliations, awards, etc.
- Introduction and/or background in subject area
- Information to engage a general audience and to provide context to interest audience
- Experimental (if appropriate, can be integrated with Results)
- Results
- Conclusions or Summary
C. Preparation of PowerPoint:
- Make each of your slides clear and readable.
D. During your talk:
- Refer to your slide information using a laser pointer
- Hold pointer steady; do not waive it around
E. Practice, Practice, Practice:
- Practice as much as possible to achieve an easy delivery
- Do not read your talk or memorize it
- Know as much about your subject area as possible
F. Handling of audience questions:
1. Text
- Make all text as large as possible; > 28 font, using same font style throughout
- Exceptions: (however, try to use font no less than 20 if possible) references or subtitles on
graphs or pictures.
- Font: Arial or Times Roman
- Bold: all text
- Colors: depends upon background choices; see ideas below
2. Backgrounds
- Use a simple, pleasing background
- Examples:
- Dark blue grading to light blue; yellow print
- Simple repeated graphic on left side; white background and black print
- Avoid a background with many lines many colors, or many shades of one color
- DO NOT USE ANIMATED BACKGROUNDS; they are distracting to audience
3. Graphs, diagrams, pictures, etc.
- Make these as large as possible
- Make any text be as large as possible.
- Use appropriate significant figures on EXCEL plots or other types of plots that have numbers.
- Don't exceed four plots per page
4. Operation of PowerPoint during your talk
- Use the Page Up/Page Down or cursor keys to move between your slides.
5. Other:
- Know what version of PowerPoint will be available (ppt 95/97 or later versions, for example)
- Know what type of disc drive will be available for uploading your presentation
- If special software is available for your presentation (QuickTime Movie player, Adobe Reader, etc.).
Answer:
A corporation or a company is a body corporate which is a juristic person. A Juristic person is a person created by legal fiction which has access to most rights that are given to juristic persons. In light of the same this legal fiction must be created with the force of law and must be done through due process of law. This happens through a process known as incorporation (Wan Mohammad, Wasiuzzaman & Nik Salleh, 2016). The following paragraphs will elaborate on the procedure for incorporation of a private company limited by shares within the jurisdiction of Malaysia.
Procedures
The entity to be incorporated into a corporation is a food and beverage company called “Vadh”. It has been stated that same is a private company having share capital. Corporations conducting business or existing within the jurisdiction of Malaysia are governed and regulated by the Companies Act, 2016 (Mokhtar, Jusoh & Zulkifli, 2016). As prescribed by the provisions of this act, companies can be of two types- public limited companies and private limited companies. Here we will only consider the incorporation process for private limited companies. As per the prescriptions of the act there are certain prerequisites which need to be met before the incorporation process of a particular company can be initiated. These are- a proposed name of the company, more than one member, in case of companies bound by shares they must have more than one share and must have one or more directors (Joseph et al., 2016).
Once the above stated requisites are met an application for incorporation maybe made by the company before the SSM. In case of private limited companies the same must show that it has one director who resides within the jurisdiction of Malaysia (ordinarily) and has a place of business within the same jurisdiction. Additionally, it must also be shown that the company has a separate promoter. There are two kinds of incorporation one is name reservation, where an approved name which was approved by the SSM is reserved for a company.
This does not however encompass a complete incorporation process and only reserves the name for the company (Hadi, Suryanto & Hussain, 2016). The second method is direct incorporation, through this method the company’s name (if approved by the SSM) is reserved and the company is given the right to commence business activities as a certificate of incorporation is given. The application procedure before the registrar has some further prerequisites which must be met once all the above mentioned formalities are completed. These prerequisites are again certain vital disclosures regarding the company which would be essential to grant its incorporation status. These disclosures are as follows (Hobson, 2016):
- The name of the company (as proposed).
- The nature of the company ( private limited in this case)
- The type of business proposed for the company.
- The address of the registered office of the company as well as a business address that would officially be recorded for the company.
- It must contain all relevant information regarding the company’s directors and the named promoters of the company.
- A declaration to the same effect from the directors of the company and the promoters of the company.
- A compliance declaration which is given by all individuals who have been involved in the process of incorporation of the company.
- Any additional relevant information which needs to be declared by a company.
An application containing all the above mentioned prerequisites can successfully be considered by the registrar for incorporation. Furthermore, an incorporation fee needs to be paid by the company to complete the process of incorporation, in case of a company limited by shares the amount to be paid as prescribed by the Companies Act, 2016 is RM1,000.00. A successful application goes beyond mere name reservation and the same is only complete upon obtaining the certificate of incorporation.
Thus, when a company obtains the same it becomes a juristic person and is allowed to commence business transactions within the same jurisdiction. It is worthwhile to mention here that within 30 days of the completion of the incorporation procedure the company must appoint a duly qualified company secretary to preside over the secretarial processes in the company (Bujang, Bern & Brumm, 2016). It is also noteworthy that in case of companies limited by shares a company constitution is optional.
Conclusion
To conclude, the companies incorporated within the jurisdiction of Malaysia are governed by the Companies Act, 2016 and is brought into existence through procedures defined in it. A company once incorporated would be allowed to carry on business transactions within the same jurisdiction.
Reference List
Bujang, A. S., Bern, C. J., & Brumm, T. J. (2016). Summary of energy demand and renewable energy policies in Malaysia. Renewable and Sustainable Energy Reviews, 53, 1459-1467.
Hadi, A. R. A., Suryanto, T., & Hussain, M. A. (2016). Corporate Governance Mechanism on the Practice of International Financial Reporting Standards (IFRS) among Muslim Entrepreneurs in Textile Industry-The Case of Malaysia. International Journal of Economic Perspectives, 10(2).
Hobson, J. A. (2016). Petroleum company operations and agreements in the developing countries. Routledge.
Joseph, C., Gunawan, J., Sawani, Y., Rahmat, M., Noyem, J. A., & Darus, F. (2016). A comparative study of anti-corruption practice disclosure among Malaysian and Indonesian Corporate Social Responsibility (CSR) best practice companies. Journal of cleaner production, 112, 2896-2906.
Mokhtar, N., Jusoh, R., & Zulkifli, N. (2016). Corporate characteristics and environmental management accounting (EMA) implementation: evidence from Malaysian public listed companies (PLCs). Journal of cleaner production, 136, 111-122.
Wan Mohammad, W. M., Wasiuzzaman, S., & Nik Salleh, N. M. Z. (2016). Board and audit committee effectiveness, ethnic diversification and earnings management: a study of the Malaysian manufacturing sector. Corporate Governance, 16(4), 726-746.
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