New Companies Act to reduce cost of doing business

KUALA LUMPUR: The new Companies Act 2016 and Companies Regulations 2017, which came into effect in January, aim to reduce the cost of doing business, especially for small and medium-sized enterprises.

“Basically there are a lot of business-friendly policies that have been newly introduced. One of the major changes is a ‘single member and single director company’ as compared to previous requirements of two directors and members.