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Why Is It Easier for Sdn Bhd to get Bank Loans?
A Sdn Bhd needs to comply with the Companies Act. Every year, a Sdn Bhd needs to prepare an Audited Financial Statement and submit it to SSM.
Sdn Bhd accounts are audited by Chartered accountants according to Accounting standards and Companies Act.
Bankers will have higher confidence in Sdn Bhds because their company’s financial performance is audited by independent auditors and hence more reliable.
What is Audited Financial Statement (AFS) ?
AFS is like a dashboard/summary of the financial status of a business.
- How much is the revenue?
- How much is the earning of the company?
- What assets/liabilities that company have?
- How much cash/bank balance in the company?
- Disclose on related party transaction etc.
You can also buy the audited report from ssm here.
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