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Classification of Companies - Coggle Diagram
Classification of Companies
Limited and unlimited companies
Company limited by shares
Section 10(2): the liability of its members is limited to the amount, if any, unpaid on shares held by the members.
The name of the company must have the words “Sendirian Berhad” or “Sdn. Bhd.” for private companies, and “Berhad” or “Bhd” for public companies.
Company limited by guarantee
Section 10(3): the liability of its members is limited to such amount as the members undertake to contribute in the event of it being wound up
Section 25(1)(a) of CA 2016: the name of company shall have the word “Berhad” or “Bhd.”
Company limited by both shares and guarantee
Section 12: no company shall be formed as, or become, a company limited by guarantee with a share capital.
Unlimited company
Section 10(4) : a company formed on the principle that no limit is placed on the liability of its members
Section 25(1)(c): The word “Sendirian” or “Sdn” shall appear at end of the company’s name for an unlimited company
Section 11(3): an unlimited company shall either be a private company or a public company.
Public company
Section 2 : “public company means a company other than a private company”.
The companies that are listed in the Bursa Malaysia Securities Berhad must be public companies with share capital
Has more disclosures requirements for directors and shareholders
Must hold AGM
Private company
Section 42(1): A company limited by shares having not more than fifty shareholders may be registered as a private company
Section 42(2) : A private company shall restrict the transfer of its shares
Section 43 (1): Private companies are prohibited to offer shares or debentures or invite to deposit money
Exempt private company
Section 2: a private company in the shares of which no beneficial interest is held directly or indirectly by any corporation and which has not more than twenty members none of whom is a corporation
Exempted from prohibitions related to loans to persons
connected with directors under s.225(1).
Exempted from prohibitions related to loans to directors
Holding and subsidiary companies
Section 4(1): a company is a subsidiary of another company
Section 6: a corporation shall be deemed to be a wholly-owned subsidiary of another corporation of it has no members other than that other corporation of its nominee, or a wholly-owned subsidiary of that other corporation or its nominee.
Foreign companies
Registered under CA 2016 in Malaysia, but having its incorporated status outside Malaysia
Must comply with Sections 561 – 579 of CA 2016
Must submit documents to the ROC along with a prescribed fee