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Faculty of Business Management

OMT 340 Principle of Corporate Complain


Prepared for:
Madam Suwaibah binti Abu Bakar
Prepared by:
Allya Hidayah binti Abd Hakim


Azyra Yasmin Balqis binti Ab Rashid


Muhammad Amir Hamzah bin Mohd Mokhtar


Nur Zarina binti Arshad


Submission date: Friday, 21 August 2014

Question 3

DISCUSS any TWO (2) basic types of companies

Statutory Companies

OMT 340
Statutory companies are formed under special Acts of Parliament which carefully
defined their power. Its usually known as Statutory Authorities or Bodies and
under state control.
For example:
Bank Pertanian Malaysia
Water Works Authority
Majlis Amanah Rakyat (MARA)
Malaysian Timber Industry Board

Registered Companies
Registered Companies are formed under the CA 1965. A company having share
capital may be incorporate as a private company or a public company. The
essential feature of registered companies is public registration, i.e. the
registration of certain documents with the ROC.
For example:
Private Company
Public Company

OMT 340
b) STATE the DISTINCTIONS between a public and private company.
Public Company
1. Name of Company

Must end with the word Berhad

Private Company
Must end with word Sendirian

2. Commencement of

Can only commence business

Can commence business and

after the issue of the certificate for

exercise borrowing powers as

commencement of business by

soon as they incorporated.

the ROC.
3. Statutory meeting

Must hold a statutory meeting and

Does not apply.

lodge statutory reports with the

4. Issue of shared

Must issue a prospectus or

Don not issue prospectus.

statement in lieu of prospectus.

5. Age limit of
6. Removal of

Director must retire at the age of

Director need not retire at age of



S128 of the CA stipulates that a

Rules regarding removal if

director can be removed by

directors are found in the Articles

ordinary resolution.

of Association (AOA).

OMT 340
c) EXPLAIN THREE (3) classifications of company.
Companies limited by shares
A company limited by shares is a company formed on the principle that the
members liability is limited by the MOA to the amount, if any, unpaid on the
shares taken up by them. There is no further liability attached to the holder of
fully paid up by shares. If the company becomes insolvent the members are not
required to make any further contributions to discharge its debts. It is
incorporated for the purpose of acquiring profit.

Companies limited by guarantee

The liability of the members is limited by the MOA to the amount which the
members have undertaken or guarantee to contribute to the assets of the
company in the event of its being wound up.
Its usually formed for non-profit making purposes such as for promoting a
charity, recreation, common interest, religion or professional and do not usually
have share capital useful to the community not involving the acquisition of gains
by the company or by its individual members and supported by subscriptions of
their members.
It shall have the word Berhad or Bhd at the end of its name.


Unlimited companies
Unlimited companies are rare and decreasing in number. It is also defined as a
company formed on the principle of having no limit placed on the liability of its
members. Members are responsible for all the liabilities of the company. The
unlimited liability of a member will only arise if the company is wound up and is
unable to meet its debts.
A past member is liable only if he had ceased to be a member less than a year
prior to the winding up. An limited company with a share capital may be a private
or a public company.

OMT 340
Question 14
a) State THREE (3) purpose of a picket.
To peacefully give into the public and other workers.
To persuade other workers not to work if a strike has already been declared.
To embarrass the employer.
b) EXPLAIN the way picket can be done.
Way of picket
Prominent display of banners and placards with derogatory comments about the
employer and management.
Requesting passers-by to show their support by pressing their vehicles horns.
Giving information to the mass media that will in turn publicize the disputes.


c) DESCRIBE the situation when strikes are not permitted.

Over a collective agreement which has been deposited with and accepted by the

Industrial Court.
Over management prerogatives.
During and immediately after the proceeding of a Board of inquiry appointed by

the Minister.
After a trade dispute has been referred to the Industrial Court for arbitration.
Over a recognition dispute which is being resolved by the Minister.
Over a union claim for recognition.
In the public sector, if the YDP Agong refuses permission for the dispute to be
referred to the Industrial Court.