FAR600

Topics: Financial statements, U.S. Securities and Exchange Commission, Financial audit Pages: 13 (2580 words) Published: April 21, 2014
COMPANIES ACT 1965
Malaysian legislation relating to companies has always been vibrant and progressive. Since1965 the Companies Act 1965 (hereafter referred to as the principal Act) has been amended no less than seventeen times.Companies Act 1965 is an act that governs relating to the establishment of the companies in Malaysia. It was revised on 1 January 2006.This Malaysia Companies Act approved by Parliament and used with effect from year 1965 until present.

Based on our research, we have find about 16 acts from Companies Act 1965 that related for both of this two company. Out of the 16 acts that we have found, both TABUNG HAJI PLANTATION and IVORY PROPERTIES GROUP BHD have complied with 15 from these sections. For example, Sec. 6A, regarding the interests in shares, Section 129 regarding the Age limit for directors, Sec. 143 (1),regarding the Annual General Meeting of the company and etcetera.

Bursa Malaysia is an exchange holding company approved under Section 15 of the Capital Markets and Services Act 2007. It operates a fully-integrated exchange, offering the complete range of exchange-related services including trading, clearing, settlement and depository services. Bursa Malaysia today is one of the largest bourses in Asia with just under 1,000 listed companies offering a wide range of investment choices to the world. Companies are either listed on Bursa Malaysia Securities Berhad Main Market or ACE Market. In assisting the development of the Malaysian capital market and enhancing global competitiveness, Bursa Malaysia is committed to maintaining an efficient, secure and active trading market for local and global investors.  Any listed company under Bursa Malaysia should comply with the listing requirement under Bursa Malaysia Securities. The purpose of these Requirements is to set out the requirements that must be complied with by all applicants, listed issuers, management companies, trustees, their directors, officers, advisers or other persons to whom these Requirements are directed. Failure to comply with any of these Requirements will amount to a breach in respect of which actions may be taken and/or penalties may be imposed. The principles, on which these Requirements are based, include the following:-

(1) All applicants shall be of a certain minimum size, quality and have a record of operations of adequate duration; (2) Investors and the public shall be kept fully informed by the listed issuers of all facts or information that might affect their interests and in particular, full, accurate and timely disclosure shall be made of any information which may reasonably be expected to have a material effect on the price, value or market activity in the securities of listed issuers; (3) All holders of securities shall be treated fairly and equitably; (4) Directors, officers and advisers of listed issuers shall maintain the highest standards of integrity, accountability, corporate governance and responsibility; and (5)Directors of listed issuers shall act in the interests of the company as a whole, particularly where the public represents only a minority of the shareholders or where directors or major shareholders have material interests in transactions entered into by listed issuers. Financial Reporting Act 1997 is an Act to establish the Financial Reporting Foundation and the Malaysian Accounting Standards Board; to provide for their functions and powers; and to provide for matters connected therewith. BE IT ENACTED by the Seri Paduka Baginda Yang di-PertuanAgong with the advice and consent of the Dewan Negara and Dewan Rakyat in Parliament assembled, and by the authority of the same.

Under section 26D of Financial Reporting Act 1997, the financial statements are required to be prepared or lodged under any law administered by the Securities Commissions, the Central Bank or the Registrar of Companies, and approved accounting standards have been issued or adopted by the Board under subsection 7(1), such...
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