Share Capital, otherwise known as equity financing, refers to the amount of money and property that a company has received in exchange for shares of the company. The shares can be either ordinary or preferred. Share Capital is listed in the balance sheet of the company as: 1) Common or preferred shares par value 2) [...]
Paid-Up Capital is the amount of money that a company has received in exchange for its shares. Paid-Up Capital is created when the company sells its share on the primary market, directly to investors. Paid Up-Capital comprises of two sections: 1) The par value of the shares issued 2) The additional Paid-Up Capital Each share [...]
The first board meeting should be held within the first month from the date of incorporation. At this meeting, the appointment of the first directors of the company will be confirmed. Other things to be resolved at this meeting will be the common seal (not compulsory), share certificates and statutory books. Any other matters related [...]
A resolution of a company is the formal decision of a company made by the board of directors or the shareholders. There are generally 3 types of resolutions that can be passed. Board Resolution Ordinary Resolution Special Resolution The resolution can be passed at a physical meeting or by written means. Since it can be [...]
For a variety of reasons, a company's paid-up capital may need to be increased. As the paid-up capital shows the financial strength of a company, there may be instances whereby a company may need to increase the paid-up capital before tendering for certain projects. Also, there may be investors who may inject money into the [...]
Employment Pass (EP) holders are allowed to be directors of the company which their EP is tied to. An EP holder is only allowed to work for the employer specified on the EP. Thus, if the employer would like an EP holder from within the company to take on a directorship, he can do so. [...]
A company's financial year end determines the end of the company's accounting period, after which financial report for the period will be prepared for purposes such as filing annual returns with ACRA and filing corporate tax returns with IRAS. By default, ACRA assigns a company's financial year end to be exactly a year from its [...]
Tell us a little bit about your company Nimbus Design is a branding and design company, both online and offline. We also provide marketing. Our team has experience working in Singapore and USA. Since our founding in 1999, we have established ourselves in F&B, retail, and heavy industry. Tell us a little bit [...]
Key Legislative Amendments Taking Effect for companies with FYEs ending on and after 31 August 2018 In March 2017, Parliament passed the Companies (Amendment) Bill 2017. Some of these amendments which aim to reduce the regulatory burden for companies will be taking effect from 31 August 2018. We are writing to you as the new [...]
A company director Lawrence Fong Kok Liang has been fined a record SGD$57,000 for 38 charges. Fong had failed to hold the annual general meeting and failed to file the annual returns of 19 companies. Fong had been convicted in 2014 for similar offences and compounded 60 similar offences. In April and May of 2018, [...]