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Resignation as Director in Sdn Bhd

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asked on Apr 21, 2017 at 16:16
by   Kelvin Hong
edited on Apr 26, 2017 at 07:34
 
I am one of the director under a Sdn Bhd company (total 4 directors). I wish to resign as the director as the company has been ceased of operation since 2014.

Understand that I need other two directors to accept my resignation as director in the company. But due to some reason I think they will not sign and accept it

May I ask how can I still resign as a director in this case? Or can I request the company to wind up?

Thanks.
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4 Answers

answered on Apr 21, 2017 at 16:50
by   jeff005
edited Apr 26, 2017 at 07:35
 
Understand that I need other two directors to accept my resignation as director 
For immediate resignation, yes, you need the others to agree or get it done at year end accounts.

Did you check with the company secretary. He can advise you on what and how to do.
There are other venues of resignation depending on many circumstances of the company.
What is the reason they do not want you to leave? You have signed as Guarantor? Why do you want to resign as director? What is your shareholding in the Sdn Bhd? You are giving up your shareholdings?
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answered on Apr 22, 2017 at 14:09
by   Kelvin Hong
edited Apr 26, 2017 at 07:37
 
Dear Jeff,

Thank you for your reply.

The company has actually stop its business on 2014. And on paper losses it is about RM90k.

The Shareholding situation is as follows:-
Company A (two appointed directors) = 51%
Me = 30%
Director X = 19%

The losses of RM90k is the debt owe to the main company that holding Company A above.

The directors from Company A could not come up with agreement with me and Director X of how to repay the debt, as the accounts is done by them.

That is the reason why the two directors will not accept my resignations as director, if it really 2 director to accept.

Thus I would like to ask opinion is there any alternative way to remove my name from the shareholding and directorship.

Otherwise every year we need to worry whether they submit annual return and etc.

Thanks in advance for your advice.
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answered on May 2, 2017 at 01:30
by   vkpc
Thus I would like to ask opinion is there any alternative way to remove my name from the shareholding and directorship.
To remove yourself as a shareholder, just sell or give your shares to another person or one of the current shareholders.
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answered on May 2, 2017 at 02:19
by   Nora
edited May 8, 2017 at 04:35
 
For Sdn Bhd any sale or transfer of shareholdings must be agreed by all shareholders in an Extraordinary General Meeting (EGM).

Translate the 30pc into dollars and cents. Any loans from banks by Company B?

Appointed Directors can be alternated but not the two of you. You MAY be stuck..
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