COMPANIES ACT 2016 (Act 777)
“company having a share capital” includes an unlimited company with a share capital;
A company having a share capital is a company whose ownership is divided into shares issued to its shareholders. The share capital represents the amount of capital contributed or agreed to be contributed by shareholders in exchange for ownership interests in the company.
The definition under the Companies Act 2016 expressly includes an unlimited company with a share capital, meaning that the existence of share capital is not limited to companies with limited liability.
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Key Characteristics
A company having a share capital generally:
• Has issued or may issue shares to its shareholders;
• Raises capital through the issuance of shares;
• Maintains a register of members showing the shareholders and their shareholdings;
• May increase, reduce, transfer, or allot shares in accordance with the Companies Act 2016; and
• May be either a company limited by shares or an unlimited company with a share capital.
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Types of Companies Having a Share Capital
1. Private Company Limited by Shares (Sdn. Bhd.)
The most common form of company in Malaysia. Shareholders' liability is limited to the amount unpaid on their shares.
Example:
ABC Trading Sdn. Bhd. has a paid-up share capital of RM100,000 divided into 100,000 ordinary shares.
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2. Public Company Limited by Shares (Berhad or Bhd.)
A public company may issue shares to investors in accordance with applicable laws and, where applicable, securities regulations.
Example:
XYZ Berhad issues additional ordinary shares to raise capital for business expansion.
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3. Unlimited Company with a Share Capital
An unlimited company may also issue shares to its members. Although it has share capital, the members' liability is not limited and may extend beyond their share contribution if the company is wound up.
This definition expressly confirms that such companies are regarded as companies having a share capital.
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Practical Examples
Example 1 – Private Company
A company is incorporated with:
• Paid-up share capital: RM10,000
• Shareholders: Two
• Ordinary shares issued: 10,000
The company is a company having a share capital because its ownership is represented by shares.
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Example 2 – Unlimited Company
An unlimited company issues RM500,000 worth of ordinary shares to its members.
Although the members have unlimited liability, the company is still regarded as a company having a share capital because it has issued shares.
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Importance of Share Capital
Share capital serves several important functions:
• Represents the ownership interests of shareholders;
• Provides funding for the company's business operations;
• Determines shareholders' voting rights and entitlement to dividends (subject to the rights attached to the shares);
• Forms the basis for allotment, transfer, and issuance of shares; and
• Supports the company's capital structure and financing arrangements.
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Compliance Requirements
Companies having a share capital are generally required to:
• Maintain an accurate Register of Members;
• Record all share allotments, transfers, and changes in share ownership;
• Keep proper records of issued and paid-up share capital;
• Lodge statutory filings with the Companies Commission of Malaysia (SSM) where required under the Companies Act 2016; and
• Comply with the provisions of the Companies Act 2016 relating to shares and share capital.
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Importance
The definition of a company having a share capital clarifies that the existence of share capital is determined by the company's capital structure rather than the extent of its members' liability. It ensures that companies with issued shares—including unlimited companies with a share capital—are subject to the relevant provisions of the Companies Act 2016 governing shares, shareholders, and corporate capital.
有股本公司（Company Having a Share Capital）
“有股本公司”（Company Having a Share Capital） 包括设有股本的无限责任公司（Unlimited Company with a Share Capital）。
实务说明（Practical Explanation）
有股本公司（Company Having a Share Capital） 是指其所有权由发行予股东的**股份（Shares）**所组成的公司。
公司的**股本（Share Capital）**代表股东为了取得公司的所有权权益，而已经出资或承诺出资予公司的资本金额。
《2016 年公司法》明确规定，设有股本的无限责任公司（Unlimited Company with a Share Capital）亦属于有股本公司。这表示，公司是否属于有股本公司，是依据其是否设有股本，而并非依据股东责任是否属于有限责任来决定。
主要特征（Key Characteristics）
有股本公司一般具有以下特点：
- 已发行或可发行股份予股东；
- 通过发行股份筹集公司资本；
- 设有股东登记册（Register of Members），记录股东及其持股资料；
- 可依据《2016 年公司法》增加、减少、转让或配发股份；以及
- 可以是股份有限公司（Company Limited by Shares），亦可以是设有股本的无限责任公司（Unlimited Company with a Share Capital）。
有股本公司的类型（Types of Companies Having a Share Capital）
1. 股份有限公司（私人有限公司）（Private Company Limited by Shares – Sdn. Bhd.）
这是马来西亚最常见的公司形式。
股东的责任仅以其尚未缴付的股份金额为限（Limited to the Amount Unpaid on Their Shares）。
例子：
ABC Trading Sdn. Bhd. 的实缴股本（Paid-up Share Capital）为 RM100,000，分为 100,000 股普通股（Ordinary Shares）。
2. 股份有限公司（公众有限公司）（Public Company Limited by Shares – Berhad / Bhd.）
公众有限公司可依据适用法律及证券监管规定向投资者发行股份筹集资金。
例子：
XYZ Berhad 为扩展业务，向投资者发行额外普通股以筹集资金。
3. 设有股本的无限责任公司（Unlimited Company with a Share Capital）
无限责任公司同样可以向其成员发行股份。
虽然公司设有股本，但如公司进入清盘程序，其成员的责任并不限于其认购股份的金额，而可能须承担超出其出资额的责任。
《2016 年公司法》明确规定，此类公司仍属于有股本公司（Company Having a Share Capital）。
实务示例（Practical Examples）
例子一：私人有限公司（Private Company）
某公司注册成立时：
- 实缴股本：RM10,000；
- 股东人数：2 名；
- 已发行普通股：10,000 股。
由于公司的所有权由股份构成，因此该公司属于有股本公司（Company Having a Share Capital）。
例子二：无限责任公司（Unlimited Company）
某无限责任公司向其成员发行总值 RM500,000 的普通股。
虽然成员承担无限责任，但由于公司已发行股份，因此仍属于有股本公司（Company Having a Share Capital）。
股本的重要作用（Importance of Share Capital）
公司的股本具有多项重要功能，包括：
- 代表股东对公司的所有权权益（Represents the Ownership Interests of Shareholders）；
- 为公司的业务经营提供资金（Provides Funding for the Company's Business Operations）；
- 决定股东的表决权及股息分配权（视股份所附权利而定）（Determines Voting Rights and Dividend Entitlement）；
- 作为股份配发、转让及发行的基础（Forms the Basis for Allotment, Transfer and Issuance of Shares）；以及
- 支持公司的资本结构及融资安排（Supports the Company's Capital Structure and Financing Arrangements）。
合规要求（Compliance Requirements）
有股本公司一般须遵守以下法定要求：
- 保存准确及最新的股东登记册（Maintain an Accurate Register of Members）；
- 记录所有股份配发、股份转让及股权变更（Record All Share Allotments, Transfers and Changes in Share Ownership）；
- 保存完整的已发行股本及实缴股本记录（Keep Proper Records of Issued and Paid-up Share Capital）；
- 根据《2016 年公司法》的规定，向马来西亚公司委员会（SSM）提交相关法定文件（Lodge Statutory Filings Where Required）；以及
- 遵守《2016 年公司法》有关股份及股本的各项规定（Comply with the Provisions Relating to Shares and Share Capital）。
重要性（Importance）
有股本公司（Company Having a Share Capital）的定义明确指出，公司是否属于有股本公司，是取决于其资本结构（Capital Structure），而非成员责任是否属于有限责任。
因此，凡设有已发行股份的公司，包括设有股本的无限责任公司，均须遵守《2016 年公司法》中有关**股份（Shares）、股东（Shareholders）及公司资本（Corporate Capital）**的相关规定，确保公司的资本管理及股权结构符合马来西亚公司法的要求。
Malaysia
