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Template for resolution passed at the First Directors’ Meeting

After the incorporation of a company, the first board meeting should be convened. This is a meeting of the directors of the company. The meeting is usually done about one month after the date of incorporation. This meeting should set out the basic structure of the company. The resolution can be in one singular document [...]

By |2021-11-08T12:56:37+08:00November 8th, 2021|Running a Company|

How to correct an error in XBRL statements that have been filed with ACRA

There are a few common XBRL errors that companies make from time to time. These errors are and not limited to the following: Incomplete data Financial statements that are tabled at the AGM does not match the data prepared in XBRL format Wrongly tagged elements in the XBRL prepared If you have detected an error [...]

By |2021-09-17T11:47:50+08:00September 17th, 2021|Accounting Bookkeeping Tax and XBRL|

How can I pay for the shares of a company?

Payment for shares can be in cash or non-cash consideration. As shares are issued to raise capital for the company, the company usually has remedies in its constitution. If we refer to the Model Constitution, the company has the various remedies on shares that are not paid up: It has a lien on the shares [...]

By |2021-08-30T15:27:17+08:00August 30th, 2021|Questions and Answers|

Why you should consider a Private Limited Company structure over an LLP

A Company and a Limited Liability Partnership (LLP) are both incorporated entities which mean that they have a separate legal personality from their ownership. We encounter a lot of queries about which business structure is best recommended for people looking to set up business structures and more often than not, we usually gravitate and recommend [...]

By |2021-08-23T14:43:50+08:00August 19th, 2021|Running a Company|

Segregation of powers between shareholders and directors

We have seen cases whereby clients have confused the roles of shareholders and directors. In this article, we will be explaining the roles and powers of the shareholders and the directors. The shareholders are the owners of the company. The directors, on the other hand, are the management of the company. Thus the management powers [...]

By |2021-08-11T15:23:34+08:00August 11th, 2021|Running a Company|
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