Why You May be Affected by the Recent Beneficial Ownership Reporting Obligations under the Companies Act 2016
The recent amendments to the Companies Act 2016 (“CA 2016”) provide a mandatory requirement for the entities registered under the Companies Commission of Malaysia (“CCM”) to identify, obtain, and maintain their beneficial ownership information. According to the Guidelines for the Reporting Framework For Beneficial Ownership of Companies issued by the CCM (“Guidelines”), the following natural…