Lowyat.NET: Latest topics by Gwiyomiz

Questions about Sdn Bhd

Gwiyomiz — Mon, 06 Feb 2017 12:38:04 +0800

Hi all, I have some questions that need to be clarified, hope you guys can help me on this

I'm running my own business as a sole proprietor right now. I have an investor who want to invest into my business, so my business can grow.
As a sole prop for a few years I'm lacking of knowledge on how to run a Sdn Bhd.

1. How does company share works?
- I don't have much money, maybe I'll put RM100k into this Sdn Bhd, while my investor will put RM900k, does that mean I can only have 10% share and he will have 90%?
Or despite the fact I'm putting less money, can I still have higher share as I was the main owner and director of this company?
- The % of shares is equal to the % of money we will earn from the company's profit?
- Shareholder can withdraw their money any time they want? What if my investor want to withdraw at the 6th month, where company doesn't have any earning yet, I'll have to close down the company as my capital will shrink by a big amount and can no longer sustain?
- Can we have an agreement under the Memorandum or something to lock the shareholder's money for like, 2 years?

2. Is it better to engage with a company registration service company to sign-up? So they can provide consultation, secretary & accounting service?
- For accountant, can I hire an in-house accountant instead of outsource 1? Is an accountant A MUST at the point of starting up the business? As I may need some time to hire one.

3. Paid-up capital means I need to have this full amount of money in the company current account right? So if Paid up capital RM1 million, I need to have this amount deposited into the company current account?
Do I need to maintain this minimum amount in the bank at all time?

4. Since I'm receiving most of my capital from my foreign investor, should I ask them to bank in the money to my personal account first? Or I have to go through company registration process and set-up the Current account first, then only ask them to transfer the money directly into this new Current account?

5. The new company Act 2016 is now in force, so I can be the only Director in Sdn Bhd now right? Shareholders will be me and my foreign investor.

6. My current sole prop and the new Sdn Bhd will be separate entity right? So should I close down this sole prop after the Sdn Bhd is opened? As all the transactions are going to be conducted under this new Sdn Bhd name.

Thank you to anyone who can help!

[HELP] Legit Check on Burberry Polo

Gwiyomiz — Sun, 01 Jan 2017 15:09:24 +0800

Any sifu can help me to legit check this Burberry polo?

GST on foreign customers pay to foreign company

Gwiyomiz — Tue, 26 Apr 2016 12:51:46 +0800

Hi all, I'm operating alone in my company and accounting alone is giving me headaches at times.
For the past 2-3 months, my gross revenue grows and expected to be over RM500k in the future months.

However, my income is less than RM500k, the high amount is due to:
My foreign country customer pays me in USD, say 50k USD, then I'll pay to a foreign company to carry out the service, say 48k USD, I'm making only 2k USD in between, for some professional setting and consulting service.

In this whole situation, my client knows his money is going to pay to that third party foreign company, however the money will always pass through my account first, then go to the third party company.

I've read on customs.gov.my on this and it says:

» Click to show Spoiler - click again to hide... «

It seems this kind of transactions considered as 'disbursements', probably zero-rated as I can't charge my client GST too as they are not from Malaysia, my supplier is also not from Malaysia.

Is it a must for me to start registering for GST? The new accounting fees and complications can make things worse.

Where should I report this?

Gwiyomiz — Wed, 11 Feb 2015 21:24:06 +0800

Mass SMS/WhatsApp spam.
Which department should I lipot to?

Inb4: report to /k/

[WTS] Sony Home Theater

Gwiyomiz — Sat, 09 Nov 2013 18:20:41 +0800

SOLD

Where can a degree holder find work?

Gwiyomiz — Wed, 10 Jul 2013 08:59:31 +0800

was wondering any other suggestion for job related to nanotechnology?

current offer:
1.) Intel penang
2.) Google singapore
3.) Plexus penang

any other places you guys recommend i can consider to apply? looking for high pay jobs

Suggestion for new build

Gwiyomiz — Wed, 10 Jul 2013 08:30:44 +0800

hi can any sifu here suggest 2 new build for me?

build 1
budget: RM2600
specs: any
usage: gaming (yeah girl gamer here)

build 2
budget: RM1200
specs: any
usage: office work

many thanks for your help

Kawasaki Ninja 250

Gwiyomiz — Fri, 19 Apr 2013 12:24:08 +0800

Just to ask the price of the Ninja 250 and we nonid to take extra lesen for this bike? Installment rate and others to advise??

Online Game Intro?

Gwiyomiz — Fri, 19 Apr 2013 12:15:47 +0800

Hi all, Any 1 have any suggestion of online game to introduce ? RPG will be better but not web game. Ofcause not too old as well the game..

WTS> LAPTOP

Gwiyomiz — Fri, 19 Apr 2013 11:45:19 +0800

Just to ask for opinions as going to change new laptop but my old laptop still can use , so is there any idea where i can sell it? bought it since 2010 May and never format before until now with original windows 7. Antivirus were also original. Battery is going to die actually (cant hold more thn half hour i guess). Model is HP Compaq CQ 41 . AMD Processor with ATI Radeon Graphic card. 320 GB HDD If selling can sell how much ?

Jelly Bean

Gwiyomiz — Wed, 10 Apr 2013 11:40:14 +0800

Did any1 know when jelly bean can officially to update in Malaysia? Currently using S2. Heard that other country can update already.

L> Jobs at Singapore

Gwiyomiz — Tue, 09 Apr 2013 23:59:11 +0800

Currently Looking for jobs in Singapore . Please PM JObs details if available ! X Sales or X Operator. Expected Logistic , Shipping Liner Company , IT Field Company .