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BY ZALEHA ZAIN AND PARTNER. ...
BY ZALEHA ZAIN AND PARTNER.
Types of Companies
Differences between Companies and Partnerships
Advantages of Companies over Partnerships
TYPES OF COMPANIES
Companies in Malaysia are classified according to:
(i) liability or
(ii) private or public status
S.14 (2) Companies Act 1965 (CA) – a company may be:
A company limited by shares;
A company limited by guarantee;
A company limited by shares and guarantee;
An unlimited (liability) company.
S.4(1): ‘Where the company, or corporation, society, association or other body incorporated outside Malaysia, but which carries on business in Malaysia..‘
It is wholly or majority owned (measured in % of shares held) by non-Malaysians.
Such company has to lodge certain documents as laid down in S.332(1) CA 1965 and pay the appropriate fees before commencing the business in Malaysia.
A foreign company registered under the “Companies Act” 1965 has the power to hold immovable property in Malaysia.