A Board Resolution For Working Capital Loan is a crucial corporate document required when Malaysian companies seek to obtain working capital financing from financial institutions. This document is mandated under the Companies Act 2016 and demonstrates that the company has followed proper corporate governance procedures in approving the loan. It is typically required by banks and financial institutions as evidence that the company has properly authorized the borrowing and specific individuals to execute the loan documentation. The resolution should be drafted when a company needs additional working capital and has identified a potential lender, but before the loan documentation is executed. It must include specific details about the proposed loan, authorized signatories, and any security arrangements, while ensuring compliance with both the company's constitution and Malaysian corporate law requirements.
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1. Title and Company Details: Full legal name of the company, company registration number, and date of resolution
2. Preamble: Statement confirming proper notice and conduct of board meeting, including date, time, location, and quorum details
3. Present Directors: List of directors present at the meeting and those absent with or without apologies
4. Chairman: Appointment of chairman for the meeting
5. Loan Purpose: Clear statement of the purpose of the working capital loan and business rationale
6. Loan Details: Specific details of the proposed loan including amount, interest rate, tenure, and key terms
7. Board Deliberation: Record of the board's consideration of the loan terms and company's ability to service the debt
8. Declaration of Interests: Disclosure of any directors' interests in the transaction
9. Primary Resolution: The main resolution approving the working capital loan
10. Authorization of Signatories: Specific authorization of named individuals to execute loan documents
11. Certification: Certification by Chairman/Company Secretary that resolution was duly passed
1. Security Arrangements: Required if the loan is secured - details of assets to be pledged as security
2. Constitutional Authority: Reference to relevant clauses of company constitution if specific borrowing provisions exist
3. Related Party Disclosure: Required if the loan involves any related party transactions
4. Subsidiary Board Approval: Required if the loan involves or affects any subsidiary companies
5. Financial Covenants: Include if specific financial ratios or covenants are part of loan conditions
6. Special Conditions: Any special conditions imposed by lender requiring specific board approval
1. Schedule 1 - Loan Terms: Detailed terms and conditions of the working capital loan
2. Schedule 2 - Authorized Signatories: List of authorized signatories with specimen signatures
3. Schedule 3 - Security Details: If applicable, detailed list of assets or securities pledged for the loan
4. Appendix A - Meeting Attendance: Detailed attendance record including virtual participants if any
5. Appendix B - Supporting Documents: List of key documents reviewed by the board in making the decision
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Retail
Technology
Construction
Healthcare
Agriculture
Transportation
Services
Real Estate
Energy
Telecommunications
Education
Hospitality
E-commerce
Mining
Relevant Teams
Legal
Finance
Corporate Secretariat
Treasury
Compliance
Risk Management
Corporate Governance
Board Secretariat
Executive Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Company Secretary
Legal Counsel
Finance Director
Managing Director
Board Chairman
Corporate Secretary
Treasury Manager
Financial Controller
Corporate Governance Officer
Risk Management Officer
Compliance Officer
Director of Operations
Bank Relationship Manager
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