This unit introduces you to various types of companies which can be incorporated in Malaysia. It starts with the introduction of companies such as company limited by shares, limited by guarantee, limited both by shares and guarantees and unlimited company. A guide to the differences between the private and public companies are also explained.
It further discusses the process of company incorporation which involves legislation requirement and form submission to respective authorities. The fundamental of name search and reservation of new company, together with its filing requirement of relevant documents are explained for your knowledge. The need to pay stamp duties and fees for the process of incorporation are also highlighted.
By the end of the unit, you will learn and understand the obligation and duty of the first directors in regards to meeting and commencement of business of the newly incorporated company.