A director owes fiduciary duties to his principal, i.e., his company. What this means is that the director has a duty of loyalty and fidelity to the company. This can be summarised by two rules, namely the no conflict and no profit rule. Therefore, when a director diverts business away from his company and the [...]
PayNow offers an improved money transfer experience, allowing retail customers of participating banks and non-financial institutions (NFIs) in Singapore to swiftly send and receive Singapore Dollar funds within the country. This can be done using only a mobile number, Singapore NRIC/FIN, or a Virtual Payment Address (VPA). Importantly, the sender no longer needs to possess [...]
Various categories of shares grant companies the flexibility to configure their ownership arrangement in a manner that can support their expansion. Companies possess the liberty to categorize shares into distinct classes, thereby accommodating numerous categories within their share system. Nonetheless, in broad terms, there exist two primary types of share classes. Ordinary Shares Ordinary [...]
A holding company is a legal entity that owns and controls other companies, with the primary operational activities carried out by its subsidiary companies. It is established to mitigate risks for the owners, as their liabilities are limited to the shares or assets associated with the subsidiary held by the holding company. The use of [...]
An Employee Stock Option Plan (ESOP) is an excellent way of letting employees have a share in the company. This will help to give employees a sense of ownership to the company which they are working for. This is also a way to attract and retain talent. These are the main reasons for a company [...]
Valuing a business accurately is important for various reasons, such as buying or selling a business, seeking investment, or determining its financial health. While the process of business valuation can be complex, here are some key steps to help you perform a proper business valuation in Singapore: Define the Purpose and Scope: Determine the purpose [...]
In today's digital age, having a website for your business is essential. The internet has made the world more connected, and people now rely on it for information and various activities such as shopping, news reading, and entertainment. With the increasing amount of time spent online, businesses have recognized the need to establish an online [...]
CorpPass is a corporate user authentication service designed to facilitate online transactions with government agencies on behalf of organizations. Starting from September 2018, all entities must utilize CorpPass for government transactions. It caters to both local entities with a Unique Entity Number (UEN) and foreign entities. Local entities without a UEN can continue using SingPass [...]
Pre-emptive rights are rights that give the existing shareholders of the company the first right to purchase any shares that an existing shareholder may be selling. Such pre-emptive rights are important for a variety of reasons. The existing shareholders may not want the shares of the company to be transferred to someone who is not [...]
An annual general meeting (AGM) is a mandatory yearly gathering of a company's stakeholders to discuss important matters concerning the business. At this event, the company's board of directors delivers an annual report containing information about the company's performance and strategies to shareholders. Shareholders with voting rights participate in the meeting to vote on various [...]