COMPANIES ACT 2016 (Act 777)
“company” means a company incorporated under this Act or under any corresponding previous written law;
A company is a legal entity incorporated under the Companies Act 2016 or under any previous Malaysian company legislation that corresponds to the current Act.
Upon incorporation, a company becomes a separate legal person distinct from its shareholders, directors, and officers. It has its own legal identity and is capable of owning property, entering into contracts, suing and being sued, and carrying on business in its own name.
The definition also includes companies that were incorporated under earlier company legislation, such as the Companies Act 1965, and which continue to exist under the Companies Act 2016.
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Legal Characteristics of a Company
A company generally possesses the following characteristics:
• A separate legal personality independent of its shareholders and directors;
• Perpetual succession, meaning it continues to exist until it is dissolved or struck off;
• The ability to own, acquire, and dispose of assets in its own name;
• The capacity to enter into legally binding contracts;
• The ability to commence or defend legal proceedings in its own name; and
• Liability that is governed by the Companies Act 2016 and the company's constitution (if any).
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Types of Companies
Under the Companies Act 2016, companies may include:
1. Private Company (Sdn. Bhd.)
A company incorporated as a private company limited by shares, commonly used by small and medium-sized businesses and private enterprises.
2. Public Company (Berhad or Bhd.)
A company incorporated as a public company, which may offer securities to the public subject to applicable laws and regulatory requirements.
3. Company Limited by Guarantee
A company incorporated without share capital, typically established for charitable, educational, religious, or non-profit purposes.
4. Unlimited Company
A company in which the liability of its members is unlimited, although such companies are relatively uncommon.
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Practical Examples
Example 1 – Newly Incorporated Company
ABC Trading Sdn. Bhd. is incorporated under the Companies Act 2016.
ABC Trading Sdn. Bhd. is a company within the meaning of the Companies Act 2016.
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Example 2 – Existing Company Incorporated Under Previous Law
XYZ Manufacturing Sdn. Bhd. was incorporated under the Companies Act 1965 before the Companies Act 2016 came into force.
Although incorporated under the previous legislation, XYZ Manufacturing Sdn. Bhd. continues to be recognised as a company under the Companies Act 2016.
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Rights of a Company
A company may:
• Carry on business activities;
• Own land and other property;
• Open and operate bank accounts;
• Borrow money and grant security;
• Employ staff;
• Enter into contracts;
• Commence or defend legal proceedings; and
• Exercise all powers conferred by the Companies Act 2016.
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Compliance Requirements
Every company incorporated under the Companies Act 2016 is required to comply with statutory obligations, including:
• Maintaining statutory registers and company records;
• Appointing a qualified Company Secretary within the prescribed period;
• Keeping proper accounting records;
• Lodging Annual Returns and other statutory documents with the Companies Commission of Malaysia (SSM);
• Complying with financial reporting and audit requirements where applicable; and
• Observing all duties and responsibilities imposed on directors and officers under the Companies Act 2016.
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Importance
The concept of a company forms the foundation of Malaysian corporate law by:
• Recognising the company as a separate legal entity;
• Providing limited liability protection to members where applicable;
• Facilitating business operations, investment, and commercial transactions;
• Establishing a structured framework for corporate governance and management; and
• Promoting legal certainty, accountability, and confidence in the corporate environment.
《2016 年公司法》（第 777 号法令）
公司（Company）
“公司”（Company） 是指根据《2016 年公司法》或任何与其相对应的马来西亚先前公司法（Previous Written Law）注册成立的公司。
实务说明（Practical Explanation）
公司（Company）是依据《2016 年公司法》或其对应的旧公司法正式注册成立的独立法人（Separate Legal Entity）。
公司一经注册成立，即成为一个独立于其股东、董事及高级人员的法律主体，拥有独立的法律人格（Legal Personality）。
因此，公司能够以自己的名义：
- 持有及拥有财产；
- 订立具有法律约束力的合约；
- 经营业务；
- 提起诉讼或应诉；以及
- 行使《2016 年公司法》赋予公司的各项权利及权力。
此外，本定义亦涵盖根据较早期公司法（例如《1965 年公司法》（Companies Act 1965））成立，并于《2016 年公司法》生效后继续存续的公司。
公司的法律特征（Legal Characteristics of a Company）
公司一般具有以下法律特征：
- 具有独立于股东及董事的法人资格（Separate Legal Personality）；
- 具有永久存续（Perpetual Succession），除非依法清盘、解散或被除名，否则公司持续存在；
- 能够以公司名义拥有、取得及处分资产（Own, Acquire and Dispose of Assets）；
- 能够以公司名义订立具有法律约束力的合约（Enter into Legally Binding Contracts）；
- 能够以公司名义提起诉讼或应诉（Sue and Be Sued）；以及
- 公司成员的责任受《2016 年公司法》及公司章程（如有）所规范（Liability Governed by the Companies Act 2016 and the Company's Constitution）。
公司的类型（Types of Companies）
根据《2016 年公司法》，公司可包括以下类型：
1. 私人有限公司（Private Company – Sdn. Bhd.）
由股份有限公司形式组成的私人公司，是马来西亚最常见的公司类型，广泛适用于中小企业、私人企业及创业公司。
2. 上市／公众有限公司（Public Company – Berhad 或 Bhd.）
公众有限公司可依据相关法律及监管规定向公众发行证券（Securities），适用于大型企业及资本市场融资。
3. 担保有限公司（Company Limited by Guarantee）
不设股本（Without Share Capital）的公司，通常用于：
- 慈善机构（Charitable Organisations）；
- 教育机构（Educational Institutions）；
- 宗教组织（Religious Organisations）；或
- 非营利机构（Non-Profit Organisations）。
4. 无限责任公司（Unlimited Company）
成员承担无限责任（Unlimited Liability）的公司。
此类公司在马来西亚较为少见。
实务示例（Practical Examples）
例子一：新注册成立的公司（Newly Incorporated Company）
ABC Trading Sdn. Bhd. 根据《2016 年公司法》完成注册成立。
因此，ABC Trading Sdn. Bhd. 属于《2016 年公司法》所定义的公司（Company）。
例子二：根据旧法成立的公司（Existing Company Incorporated Under Previous Law）
XYZ Manufacturing Sdn. Bhd. 于《1965 年公司法》生效期间注册成立。
虽然公司并非根据《2016 年公司法》成立，但由于其依据相对应的旧公司法合法成立，并持续存在，因此仍属于《2016 年公司法》所定义的公司（Company）。
公司的权利（Rights of a Company）
公司可依法：
- 从事商业活动（Carry on Business Activities）；
- 持有土地及其他财产（Own Land and Other Property）；
- 开立及操作银行账户（Open and Operate Bank Accounts）；
- 借贷资金及提供担保（Borrow Money and Grant Security）；
- 雇用员工（Employ Staff）；
- 订立合约（Enter into Contracts）；
- 提起或抗辩法律诉讼（Commence or Defend Legal Proceedings）；以及
- 行使《2016 年公司法》赋予公司的各项法定权力（Exercise All Powers Conferred by the Companies Act 2016）。
合规要求（Compliance Requirements）
根据《2016 年公司法》，每一家注册成立的公司均须履行各项法定义务，包括：
- 保存法定登记册及公司记录（Maintaining Statutory Registers and Company Records）；
- 于法定期限内委任合资格的公司秘书（Appointing a Qualified Company Secretary）；
- 保存完整及妥善的会计记录（Keeping Proper Accounting Records）；
- 向马来西亚公司委员会（SSM）提交年度申报表（Annual Return）及其他法定文件（Lodging Statutory Documents）；
- 于适用情况下遵守财务报告及法定审计规定（Complying with Financial Reporting and Audit Requirements）；以及
- 遵守《2016 年公司法》规定董事及高级人员所承担的各项法定职责及责任（Observing Directors' and Officers' Duties）。
重要性（Importance）
公司（Company） 是马来西亚公司法制度的核心概念，其重要性包括：
- 确立公司作为独立法人（Separate Legal Entity）的法律地位；
- 在适用情况下，为股东提供有限责任保障（Limited Liability Protection）；
- 促进商业经营、投资及各类商业交易的发展；
- 建立完善的企业管理及公司治理架构（Corporate Governance and Management Framework）；以及
- 提升法律确定性、企业透明度及市场信心，促进马来西亚企业环境的稳健发展。
Malaysia
