COMPANIES ACT 2016
“property”, in relation to a corporation, includes land, money, goods, chose in action, things in action, goodwill and every valuable thing, whether corporal or incorporeal, movable or immovable, and whether situated in Malaysia or elsewhere and also includes obligations, servitudes, and every description of estate, interest and profit, present or future, vested or contingent, arising out of or incident to the property;
Under the Companies Act 2016, the term property is given an extremely broad and comprehensive meaning. It extends far beyond physical assets such as land, buildings, machinery, and cash.
The definition encompasses every form of asset, right, interest, benefit, or proprietary interest that has economic value and can be owned, controlled, transferred, or enforced by a corporation, regardless of whether it is tangible or intangible, movable or immovable, located in Malaysia or overseas.
In addition to physical assets, the definition also covers legal rights, contractual rights, intellectual property, goodwill, future interests, contingent interests, and various proprietary benefits connected with the property.
The broad definition ensures that all assets and proprietary interests belonging to a corporation are recognised and protected under the Companies Act 2016.
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Purpose of the Definition
The definition of property serves several important purposes:
• Gives the widest possible meaning to assets owned by a corporation.
• Ensures that all forms of corporate assets are recognised under the Companies Act 2016.
• Facilitates corporate transactions involving tangible and intangible assets.
• Protects the interests of shareholders, creditors, and investors.
• Assists in insolvency, liquidation, mergers, acquisitions, and corporate restructuring.
• Prevents valuable rights from escaping statutory protection merely because they are intangible or future interests.
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Categories of Property
The statutory definition covers numerous categories of property.
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1. Land
Land includes:
• freehold land;
• leasehold land;
• industrial land;
• commercial buildings;
• factories;
• offices;
• warehouses;
• plantations; and
• any interest in land.
Example
ABC Manufacturing Sdn. Bhd. owns a factory in Johor.
The factory and the land on which it stands constitute the company's property.
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2. Money
Money includes:
• cash;
• bank balances;
• deposits;
• foreign currency;
• fixed deposits; and
• other monetary assets.
Example
RM5 million held in the company's bank account forms part of the company's property.
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3. Goods
Goods include:
• inventory;
• raw materials;
• finished products;
• machinery;
• office equipment;
• motor vehicles; and
• merchandise.
Example
A retail company's inventory of electronic products constitutes its property.
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4. Chose in Action (Thing in Action)
A chose in action (also referred to as a thing in action) is a legal right that cannot be physically possessed but can only be enforced through legal proceedings or other legal processes.
Examples include:
• debts owed to the company;
• contractual rights;
• rights under insurance policies;
• rights to claim damages;
• intellectual property rights;
• shares;
• dividends receivable; and
• loan receivables.
Example
XYZ Sdn. Bhd. has supplied goods worth RM800,000 to a customer but has not yet been paid.
The right to recover the RM800,000 debt is a chose in action and forms part of the company's property.
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5. Goodwill
Goodwill represents the commercial value arising from factors such as:
• reputation;
• established customer relationships;
• brand recognition;
• business location;
• skilled workforce; and
• expected future profitability.
Although goodwill has no physical form, it is recognised as valuable corporate property.
Example
A restaurant chain with a well-known brand and loyal customer base possesses valuable goodwill.
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6. Tangible (Corporal) Property
Corporal property refers to assets that have a physical existence.
Examples include:
• buildings;
• furniture;
• machinery;
• computers;
• motor vehicles;
• inventory;
• equipment; and
• factory plants.
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7. Intangible (Incorporeal) Property
Incorporeal property consists of non-physical assets.
Examples include:
• trademarks;
• patents;
• copyrights;
• software licences;
• customer databases;
• franchise rights;
• licences;
• contractual rights;
• domain names; and
• goodwill.
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8. Movable Property
Movable property includes assets capable of being moved.
Examples include:
• motor vehicles;
• inventory;
• office equipment;
• computers;
• machinery;
• furniture; and
• cash.
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9. Immovable Property
Immovable property generally refers to:
• land;
• buildings;
• permanent structures;
• leasehold interests in land; and
• other proprietary interests attached to land.
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10. Property Situated Anywhere
The definition expressly includes property located:
• within Malaysia; or
• outside Malaysia.
Accordingly, overseas assets owned by a Malaysian corporation remain part of its property.
Example
A Malaysian company owns:
• an office in Singapore;
• a warehouse in Thailand; and
• intellectual property registered in the United Kingdom.
All these assets constitute the company's property under the Companies Act 2016.
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11. Obligations
The definition also includes obligations arising out of or connected with property.
These may include legal rights and responsibilities attached to proprietary interests.
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12. Servitudes
A servitude is a legal right enjoyed over another person's land or property.
Examples include:
• easements;
• rights of way;
• drainage rights;
• utility access rights; and
• other proprietary rights recognised by law.
These rights are capable of forming part of the corporation's property.
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13. Estates, Interests and Profits
The definition extends to every description of:
• estate;
• legal interest;
• equitable interest;
• beneficial interest;
• profit;
• present interest;
• future interest;
• vested interest; and
• contingent interest.
This ensures that both existing and future proprietary rights receive legal recognition.
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Present, Future, Vested and Contingent Interests
The definition expressly includes different types of proprietary interests.
Present Interest
A right currently enjoyed by the corporation.
Example:
Ownership of an office building.
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Future Interest
A right that will arise at a future date.
Example:
The right to acquire land upon completion of a sale agreement.
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Vested Interest
A right that has become legally enforceable, even if enjoyment is postponed.
Example:
A company's unconditional entitlement to receive rental income beginning next year.
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Contingent Interest
A right that depends upon the occurrence of a future event.
Example:
A company has an option to purchase shares if specified financial targets are achieved.
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Relationship with Corporate Transactions
The definition of property is fundamental to numerous corporate activities, including:
• incorporation;
• acquisition of assets;
• sale of business;
• mergers;
• corporate restructuring;
• creation of charges;
• financing arrangements;
• liquidation;
• receivership;
• voluntary winding up; and
• distribution of assets upon dissolution.
Without a comprehensive definition, uncertainty could arise regarding which assets belong to the corporation.
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Practical Examples
Example 1 – Factory and Machinery
ABC Sdn. Bhd. owns:
• a factory;
• production machinery;
• delivery vehicles; and
• inventory.
All these assets constitute the company's property.
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Example 2 – Intellectual Property
A software company owns:
• registered trademarks;
• software copyrights;
• patents;
• domain names; and
• proprietary source code.
Although intangible, these assets are property under the Companies Act 2016.
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Example 3 – Outstanding Trade Debt
XYZ Sdn. Bhd. is owed RM2 million by customers.
Although the company has not yet received payment, the legal right to recover the debts is property because it is a chose in action.
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Example 4 – Overseas Investment
A Malaysian corporation owns commercial properties in Australia and investment shares in Hong Kong.
Both overseas assets are regarded as the corporation's property under the Companies Act 2016.
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Example 5 – Goodwill on Sale of Business
DEF Sdn. Bhd. sells its business together with its established trade name and customer base.
The purchaser pays RM5 million for the company's goodwill in addition to the value of its physical assets.
The goodwill forms part of the company's property.
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Compliance Requirements
Corporations should ensure that they:
• maintain accurate records of all corporate property;
• safeguard both tangible and intangible assets;
• properly value property for accounting and financial reporting purposes;
• comply with legal requirements when acquiring, disposing of, or charging property;
• protect intellectual property through appropriate registration where available;
• maintain proper documentation evidencing ownership and proprietary rights; and
• disclose material assets in accordance with the Companies Act 2016 and applicable accounting standards.
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Importance
The definition of property is one of the broadest and most significant definitions in the Companies Act 2016. By encompassing land, money, goods, choses in action, goodwill, tangible and intangible assets, movable and immovable property, domestic and foreign assets, as well as every form of estate, interest, profit, obligation, servitude, and proprietary right—whether present or future, vested or contingent—the Act ensures that virtually every asset and proprietary interest of a corporation receives legal recognition and protection.
This comprehensive definition underpins corporate ownership, financing, accounting, security interests, mergers and acquisitions, insolvency, and liquidation, providing legal certainty for corporations, shareholders, creditors, investors, and other stakeholders. It also reflects the modern commercial reality that a corporation's value often lies not only in its physical assets but also in its contractual rights, intellectual property, goodwill, and other intangible interests.
《2016 年公司法》
就法人团体而言，“财产”（Property） 包括：
- 土地（Land）；
- 金钱（Money）；
- 货物（Goods）；
- 诉讼权利（Chose in Action／Thing in Action）；
- 商誉（Goodwill）；以及
- 一切具有价值的财产，不论属于：
- 有体财产（Corporal Property）或无体财产（Incorporeal Property）；
- 动产（Movable Property）或不动产（Immovable Property）；
- 位于马来西亚境内或境外。
此外，“财产”亦包括因财产而产生或附属于财产的：
- 义务（Obligations）；
- 地役权（Servitudes）；以及
- 各种现有或未来、既得或附条件的产业权（Estate）、权益（Interest）及收益（Profit）。
实务说明（Practical Explanation）
根据《2016 年公司法》，“财产（Property）” 具有极为广泛及全面的法律涵义。
其范围不仅包括一般人理解的有形资产，例如：
- 土地；
- 建筑物；
- 厂房；
- 机械设备；
- 货物；及
- 现金，
亦涵盖各种具有经济价值，并可由法人团体拥有、控制、处分、转让、设定担保或依法执行的财产权利。
换言之，只要某项资产、权利、利益或财产权具有经济价值，并依法属于法人团体，即可能构成《2016 年公司法》所指的“财产”。
因此，公司财产不仅包括有形资产，也包括：
- 合约权利；
- 应收账款；
- 知识产权；
- 商誉；
- 股份；
- 债权；
- 特许经营权；
- 软件许可；
- 域名；
- 未来权益；及
- 附条件权益等无形财产。
《2016 年公司法》采用如此广泛的定义，是为了确保法人团体拥有的各种财产权利均受到法律承认及保障，而不会因资产缺乏实体形态或尚未实际取得而失去法律保护。
定义的目的（Purpose of the Definition）
《2016 年公司法》对“财产”作出广义定义，主要具有以下目的：
- 赋予法人团体财产最广泛的法律涵义；
- 确保各种有形及无形资产均受到《2016 年公司法》承认；
- 便利公司进行资产买卖、融资及商业交易；
- 保障股东、债权人及投资者的权益；
- 支持企业重组、合并、收购、清盘及无力偿债程序；
- 防止具有经济价值的权利因缺乏实体形态而失去法律保障；以及
- 反映现代商业社会中企业价值已不限于实体资产的发展趋势。
财产的主要类别（Categories of Property）
《2016 年公司法》所指的财产涵盖多个类别。
（一）土地（Land）
土地包括：
- 永久地契土地；
- 租赁地土地；
- 工业用地；
- 商业建筑物；
- 工厂；
- 办公楼；
- 仓库；
- 种植园；以及
- 与土地有关的任何产权或权益。
例子：
ABC Manufacturing Sdn. Bhd. 拥有位于柔佛的一间工厂。
该土地及工厂均属于公司的财产。
（二）金钱（Money）
金钱包括：
- 现金；
- 银行存款；
- 定期存款；
- 外币；
- 电子资金；以及
- 其他货币资产。
例子：
公司银行账户内存放 RM5,000,000，该款项属于公司的财产。
（三）货物（Goods）
货物包括：
- 存货；
- 原材料；
- 制成品；
- 商品；
- 办公设备；
- 机械；
- 汽车；以及
- 各类可供买卖或使用的物品。
例子：
零售公司的电子产品库存属于公司的财产。
（四）诉讼权利（Chose in Action／Thing in Action）
诉讼权利，是指不能实际占有，而必须透过法律程序才能实现的财产权利。
例如：
- 公司应收账款；
- 合约权利；
- 保单索偿权；
- 损害赔偿请求权；
- 股份；
- 股息收取权；
- 贷款债权；
- 知识产权；以及
- 其他依法可执行的权利。
例子：
XYZ Sdn. Bhd. 已向客户出售价值 RM800,000 的货物，但客户尚未付款。
公司向客户追讨该 RM800,000 债务的权利，即属于诉讼权利，并构成公司的财产。
（五）商誉（Goodwill）
商誉是企业因长期经营所形成的商业价值。
通常来自：
- 企业声誉；
- 品牌价值；
- 客户关系；
- 市场知名度；
- 优越营业地点；
- 员工经验；以及
- 未来盈利能力。
虽然商誉没有实体，但法律承认其属于具有经济价值的公司财产。
（六）有体财产（Corporal Property）
有体财产，是指具有实体形态，可被实际占有的资产。
例如：
- 建筑物；
- 土地；
- 家具；
- 厂房；
- 机械设备；
- 汽车；
- 存货；以及
- 办公设备。
（七）无体财产（Incorporeal Property）
无体财产，是指没有实体形态，但具有法律及经济价值的资产。
例如：
- 商标；
- 专利；
- 著作权；
- 软件许可证；
- 特许经营权；
- 客户数据库；
- 域名；
- 合约权利；
- 商誉；以及
- 知识产权。
（八）动产（Movable Property）
动产，是指可以移动的财产。
例如：
- 汽车；
- 机器；
- 办公家具；
- 电脑；
- 存货；
- 商品；
- 现金；以及
- 各类设备。
（九）不动产（Immovable Property）
不动产通常包括：
- 土地；
- 建筑物；
- 永久性建筑；
- 土地租赁权益；以及
- 附属于土地的产权或权益。
（十）位于任何地方的财产（Property Situated Anywhere）
《2016 年公司法》明确规定，公司财产不限于位于马来西亚境内。
无论财产位于：
均属于公司的财产。
例子：
某马来西亚公司拥有：
- 新加坡办公室；
- 泰国仓库；
- 澳洲商业物业；以及
- 于英国注册的专利权。
上述资产均属于《2016 年公司法》所指的公司财产。
（十一）义务（Obligations）
财产亦包括因财产权而产生或附属于财产的法律义务。
例如：
- 土地附带义务；
- 合约义务；
- 租赁义务；以及
- 法律规定须履行的相关责任。
（十二）地役权（Servitudes）
地役权，是指依法就他人土地或财产享有的特定使用权。
例如：
- 通行权；
- 排水权；
- 公用设施铺设权；
- 管道使用权；以及
- 法律承认的其他土地权益。
这些权益本身亦属于公司的财产。
（十三）产业权、权益及收益（Estates, Interests and Profits）
《2016 年公司法》的定义进一步涵盖：
- 各类产业权（Estate）；
- 法律权益（Legal Interest）；
- 衡平权益（Equitable Interest）；
- 实益权益（Beneficial Interest）；
- 收益（Profit）；
- 现有权益（Present Interest）；
- 未来权益（Future Interest）；
- 既得权益（Vested Interest）；以及
- 附条件权益（Contingent Interest）。
此规定确保现有及未来可能取得的各种财产权利，均可依法获得承认及保护。
现有权益、未来权益、既得权益及附条件权益（Present, Future, Vested and Contingent Interests）
现有权益（Present Interest）
指公司目前已依法享有的权益。
例子：
公司现时拥有一栋办公楼。
未来权益（Future Interest）
指将在未来某一时间取得的权益。
例子：
公司依据买卖协议，于完成交易后取得土地所有权。
既得权益（Vested Interest）
指权利已经依法确定，只是实际享有时间延后。
例子：
公司已无条件取得明年开始收取租金的权利。
附条件权益（Contingent Interest）
指权利须待未来某项事件发生后才会产生。
例子：
公司拥有购买股份的选择权，但必须待目标公司达到指定盈利目标后方可行使。
与公司交易的关系（Relationship with Corporate Transactions）
“财产”的定义，是众多公司交易的重要基础，包括：
- 公司注册成立；
- 资产收购；
- 企业出售；
- 合并及收购；
- 企业重组；
- 抵押及押记（Charge）的设立；
- 银行融资；
- 接管；
- 清盘；
- 成员自愿清盘；以及
- 公司解散后的资产分配。
若没有广泛而明确的财产定义，公司资产范围便可能产生法律争议。
实务示例（Practical Examples）
例子一：工厂及机械设备
ABC Sdn. Bhd. 拥有：
上述所有资产均属于公司的财产。
例子二：知识产权
某软件公司拥有：
- 注册商标；
- 软件版权；
- 专利；
- 域名；及
- 自主开发源代码。
虽然这些资产没有实体，但均属于公司的财产。
例子三：应收贸易账款
XYZ Sdn. Bhd. 拥有 RM2,000,000 应收客户账款。
虽然公司尚未收到款项，但依法向客户追讨债务的权利属于诉讼权利，因此构成公司的财产。
例子四：海外投资
一家马来西亚公司拥有：
即使有关资产位于海外，仍属于公司的财产。
例子五：出售业务中的商誉
DEF Sdn. Bhd. 出售其业务，同时出售：
买方除支付有形资产价值外，另支付 RM5,000,000 购买商誉。
该商誉属于公司的财产。
合规要求（Compliance Requirements）
法人团体应确保：
- 妥善保存所有公司财产的完整记录；
- 保护有形及无形资产；
- 按适用会计准则正确计量及列报财产价值；
- 在取得、出售、转让或设定押记时遵守相关法律规定；
- 对可注册的知识产权及时办理注册及续展；
- 保存证明财产权属的契约、协议及其他文件；
- 根据《2016 年公司法》及适用会计准则披露重大资产；以及
- 建立适当的内部控制制度，以保障公司财产安全。
重要性（Importance）
“财产（Property）” 的定义，是《2016 年公司法》中范围最广泛及最重要的定义之一。
通过将土地、金钱、货物、诉讼权利、商誉、有体及无体财产、动产及不动产、境内及境外资产，以及各种产业权、权益、收益、义务及地役权，无论属于现有、未来、既得或附条件权益，一并纳入“财产”的定义，《2016 年公司法》确保法人团体几乎所有具有经济价值的资产及财产权利均受到法律承认及保护。
这一广泛定义不仅为公司的所有权、融资安排、财务报告、担保交易、企业合并、收购、重组、无力偿债及清盘制度提供坚实的法律基础，也为股东、债权人、投资者及其他利益相关者提供明确的法律保障。
与此同时，该定义亦充分反映现代商业社会的发展趋势——企业价值已不仅来自土地、厂房及设备等有形资产，更来自知识产权、商业信誉、合约权利、数据资产及其他无形财产权。因此，《2016 年公司法》通过采用广义的“财产”定义，为现代企业的经营活动及资本市场运作提供全面而稳固的法律保障。
Malaysia
