To Carry On The Business Of Traders Companies in Malaysia

A company is a legal entity that is separate and distinct from its shareholders, directors and officers. A company is created when it is registered with the Companies Commission of Malaysia (SSM). Once registered, a company becomes a legal entity with its own identity, separate from its shareholders.

A company can carry on business in any activity that is lawful in Malaysia. The common types of business activities carried out by companies in Malaysia include manufacturing, trading, agriculture, construction, mining, transport, storage, communication, banking, insurance, financing, real estate, and professional services.

A company must have at least two shareholders and a minimum paid-up capital of RM2,000. The shareholders of a company are its owners and have limited liability. This means that they are not personally liable for the debts and liabilities of the company.

The directors of a company are responsible for its management and are elected by the shareholders. The officers of a company are appointed by the directors and are responsible for the day-to-day running of the company.

A company must keep proper books of account and records of its shareholders, directors and officers. It must also hold an annual general meeting (AGM) of shareholders and prepare annual financial statements.