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  • Chapter 1 Business Forms The Types of Enterprises in Malaysia - 0

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    Muhamad Nurhafiz Yusoff
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    A Sole Proprietorship is an attractive form of legal status for a new business. A partnership is formed under the Business Registration Act 1956 (Amendment 1978) and the Procedures of Business Registration 1957. There are two types of companies which are: a) Private limited companies and b) public limited companies.

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    Chapter 1 Business Forms the Types of Enterprises in Malaysia_0

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    A Sole Proprietorship is an attractive form of legal status for a new business. A partnership is formed under the Business Registration Act 1956 (Amendment 1978) and the Procedures of Business Registration 1957. There are two types of companies which are: a) Private limited companies and b) public limited companies.

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    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
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    19 views14 pages

    Chapter 1 Business Forms The Types of Enterprises in Malaysia - 0

    Uploaded by

    Muhamad Nurhafiz Yusoff
    A Sole Proprietorship is an attractive form of legal status for a new business. A partnership is formed under the Business Registration Act 1956 (Amendment 1978) and the Procedures of Business Registration 1957. There are two types of companies which are: a) Private limited companies and b) public limited companies.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 14

    Business Registration Act (Amendment 1978) And Procedures Of Business Registration 1957

    Partnership

    Sole Proprietorship

    Companies Act 1965

    Unlimited Company

    Limited Company By Guarantee

    Limited Company By Guarantee

    Private Limited Company

    Public Limited Company

    Foreign Owned Company

    There are three popular forms of business ownerships which are: 1. Sole proprietorship 2. Partnership 3. Private Limited Company

    EUW 224 ENGINEERING ENTREPRENEURSHIP

    A sole proprietorship is an attractive form of legal status for a new business. The simplest business structure. It is formed under the Business Registration Act 1956(Amendment 1978) and the Procedures of Business Registration 1957. Solely owned and operated by an individual
    EUW 224 ENGINEERING ENTREPRENEURSHIP

    Make decision on his own, Grande positione, isnt it ?

    Enjoy certain degree of flexibility

    Easy to form and dissolved

    Deserve each cents of the profit

    Secrets are safe

    EUW 224 ENGINEERING ENTREPRENEURSHIP

    Limited Source of Capital

    Bears all liability

    Future development is limited

    Dealing with people without any help

    No guarantee that the business will last forever

    EUW 224 ENGINEERING ENTREPRENEURSHIP

    A partnership is formed under the Business Registration Act 1956 (Amendment 1978) and the Procedures of Business Registration 1957. It is a business owned by at least two or more individuals but not exceeding 20 peoples. All partners agree to undertake a joint business and jointly own the business

    EUW 224 ENGINEERING ENTREPRENEURSHIP

    Easy to set up

    Easier to secure financial assistance

    Equity increased by many partners

    Reduced business risks

    Divided responsibility

    EUW 224 ENGINEERING ENTREPRENEURSHIP

    Unlimited business liabilities

    Life span is depending on life of partners

    Personal clashes

    Misconduct

    EUW 224 ENGINEERING ENTREPRENEURSHIP

    10

    All companies in Malaysia are governed by the Companies Act 1965. It is a corporate body which it is a legal entity Its identity is separated from the identities of the members.

    Characteristics - Right and Responsibility - Life Span - Liabilities - Membership

    EUW 224 ENGINEERING ENTREPRENEURSHIP

    11

    There are two types of companies which are: a) Private limited companies. The number of members does not exceed 50 peoples. Authority to transfer ownership. Not allowed to sell or offer any share or debentures to general public Not allowed to offer general public to deposit money within a stipulated time Must use the words Sdn. Bhd.

    Funds are easy to acquire

    Shareholders are legally protected

    BOD runs the company, not the shareholders

    Limited liabilities

    Life span of business is not dependent on members

    EUW 224 ENGINEERING ENTREPRENEURSHIP

    13

    Subject to more rules

    Shares cannot be transacted through share market

    Corporate tax

    Audit

    EUW 224 ENGINEERING ENTREPRENEURSHIP

    14

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