Changes to Companies Act positive for entrepreneurs and SMEs

Chai: ‘It is important to ensure that the directors’ responsibilities have been carried out and that their fiduciary duties are met.’

PETALING JAYA: The changes made to the Companies Act 2016 (Act 777) are positive for entrepreneurs as well as small medium enterprise (SME) owners, because the new provisions will lower costs and improve the ease of doing business, according to experts.

Among the changes which benefit those aspiring to start a company is the abolition of the mandatory requirement to hold an AGM for private companies.