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The partnership agreement stated had been prepared on 4th November 2019 by the provision stated
in the Partnership Act 1961 (Act135) in the Section 26. We have agreed to be one of the members in
this partnership and to create a partnership agreement in this business of Sambal Kembong Giler in
condiments base.
We as the business partnership name for cilipedas SDN BHD as list below:
i. All of the partners are entitled to share profits of the business and all the losses will be
contribute equally between partners, whether of capitals or otherwise sustained by the
firm.
ii. Interests are not payable on partners’ capital.
iii. All partners have the right in the profit made by the business according to the
percentage of capital contribution.
iv. Partners have the rights to be paid based on the contributions of interest.
v. All partners will bear by same percentage of capital contribution if any losses occur. But,
a person needs to bears loss personally if the losses are caused by the careless of the
individual their self.
vi. Each partner is entitled to actively participate and take part in the management of the
partnership business.
vii. In the nature of business partnership, there is no change an be made without consent of
all existing partners.
viii. Daily normal things in business can be decided by the majority of the partners, but any
changes that regularly occur need to be made with consensus from all partner.
ix. New partner cannot be introduced as a partner in the business unless getting permission
and consent from all existing partners.
x. A partner may withdraw after getting the consent of the other partners.
xi. All partners are not allowed to take more than 30 days of holiday in a year, but only if in
emergency circumstances.
xii. All business account books need to be kept at the main business premises. Partners are
allowed to check through the books if they have the right to keep a copy of the books.
Signature:
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