Real Estate agent called me today on a possible foreign tenant wanting to rent a unit. Facebook, Linkedin yield nothing on the name of the tenant, only info given was tenant had a Malaysian business.
RAMCI is a credit reporting agency where we can get credit scores of Malaysia companies registered with SSM. The report costs RM 38, I did payment using BoostPay (ewallet) and the company report was emailed to my email account within an hour.
RAMCI is a credit reporting agency where we can get credit scores of Malaysia companies registered with SSM. The report costs RM 38, I did payment using BoostPay (ewallet) and the company report was emailed to my email account within an hour.
I checked the company shareholder's passport matches the tenant's passport number. Second item I noticed which I felt was something positive was the paid up capital of the company was 1 million.
The definition of paid up capital is
Paid-Up capital means the actual amount of funds/capital injected into a company by the Shareholder(s), usually in exchange for shares in the Company. The said funds may then be utilised for the day to day operations of the Company to pay salary, debts and other expenses.
The tenant has a 100% share holding in the company means that the tenant has injected RM1 million into the company and he holds all the company shares. Therefore this tenant financially from my point of view should be quite ok. Banks typically will only lend money to companies with at least RM1 million.