Malaysia Hotline: +603- 2141 8908
There is not much difference
between Malaysia unlimited companies and other business entities like sole
proprietorship and partnership. This type of company enjoys the advantage of
being a separate legal entity with two special features below:
- Unlike other companies, they
are free to return their capital to their members.
- They must have their own
Articles of Association whereas other companies may adopt Table A-Fourth
Schedule.
The definition of an
"unlimited company" given in section 4 of the Companies Act is
"A company formed on the principle of having no limit placed on the
liability of its members." In other words, in the event of a winding-up of
an unlimited company, its members may be made liable for its debts without
limit on their liability.
An unlimited company is similar
to other companies in that it is also a corporation. As such, it can hold
property, sue and be sued as an entity separate from its members. The unlimited
company can create a floating charge on its assets and can deal freely with its
assets in the ordinary course of business.
Contact us
If you have further queries, please contact
Tannet
24 hours Malaysia hotline：603-21418908;
24 hours Hong Kong hotline：852-27837818;
24 hours Hong Kong hotline：86-755- 36990589;
Email: mytannet@gmail.com
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my