Carry On Companies in Malaysia
A carry on company is a company which is continued to be operated by its current management after a change in ownership. The new owners may be the company's creditors, who take over the company in lieu of payment, or they may be its shareholders, who vote to keep the company going after it has become insolvent. In either case, the company's management is typically replaced.
Carry on companies are common in Malaysia, where they are often used as a way to avoid bankruptcy. The Malaysian government has been criticized for allowing carry on companies to operate, as they are often used to avoid paying debts, including taxes.
Carry on companies are common in Malaysia, where they are often used as a way to avoid bankruptcy. The Malaysian government has been criticized for allowing carry on companies to operate, as they are often used to avoid paying debts, including taxes.
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