Event

Event

 

Solvency Declaration: Pursuant To Companies Act 2016 (What Why Who When & How)

11 Oct 2019 - Fri / 1 day / 9:30am - 4:30pm / Selangor Bar Committee Auditorium

The Companies Act 2016 (the Act) introduces substantial changes to the Malaysia corporate landscape and its impact on corporate law is inevitable. One of the substantial changes is the introduction of solvency, making its compliance a prerequisite to some major corporate yet common activities and undertakings. The rationale behind such requirement is to safeguard the interest of competing stakeholders, requiring directors to make solvency declarations before embarking on certain corporate undertakings, and non-compliance of which brings dire consequences.

Organisers: Selangor Bar

CPD Points: 5
Circular No: N/A
Event Code:
T3/11102019/SLB/SLB193393/5

Description

This seminar aims to deal with the following fundamental issues:

  • What is profitability, liquidity and solvency, how to differentiate them?
  • What is solvency, in the context of the Act?
  • How to determine solvency?
  • What is the solvency test?
  • What is the solvency statement?
  • How to relate solvency with a Company‚Äôs Annual Reports and Its Audited Financial Statements?
  • How to read and understand the Solvency Statement?
  • What types of corporate activities and/or undertakings require such declaration?
  • What are these corporate activities and/or undertakings?
  • Who is responsible for such declaration?
  • Whether such solvency test and statement can be out-sourced to external professional services providers?
  • Who is ultimately responsible and/or liable?
  • What are the consequences of non-compliance?
  • Much more

Speaker

Lim Kien Chai, a legal practitioner, is a Chartered Accountant and an Advocate and Solicitor of the High Court of Malaya and has a multi-disciplinary professional and career background spanning over a period of more than 30 years.

He holds the following academic and professional qualifications: Bachelor Degree of Accounting from the University of Malaya (Hons); Bachelor Degree of Law from the University of London (Hons); Chartered Institute of Management Accountants from the United Kingdom; Post-graduate professional qualification in Certified Internal Auditor from the United States of America; and Certificate of Legal Practice from Malaysia.

He was a Past President of the Institute of Internal Auditors Malaysia.

Terms and Conditions

Please contact the organiser for further Terms and Conditions.

Selangor Bar Committee
No. 37, 39 & 41, Jalan Bola Jaring 13/15, Seksyen 13, 40100 Shah Alam, Selangor Darul Ehsan
Tel: +603 5519 6219
Fax: +603 55199037

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