Companies must reveal real owners by July, info won't be public

Come July, the Companies Commission of Malaysia (CCM) will come down hard on individuals hiding behind proxies to obscure their beneficial ownership in a company.

CCM corporate compliance division director Norhaiza Jemon said failing to comply is a criminal offence which carries a penalty of up to RM50,000 fine, three years imprisonment, or both.

This covers beneficial owners and their proxies, directors, as well as...