COMPANIES ACT 2016 (Act 777)
“charge” includes a mortgage and any agreement to give or execute a charge or mortgage whether upon demand or otherwise;

  Practical Explanation
A charge is a form of security interest created over a company's assets to secure the repayment of a debt or the performance of an obligation. It gives a lender or creditor the legal right to enforce the security if the company defaults on its obligations.
Under the Companies Act 2016, the term "charge" is broadly defined to include:

• A mortgage over property or assets; and
• Any agreement or undertaking to create or execute a charge or mortgage in the future, whether the obligation arises immediately, upon demand, or at a later time.

Accordingly, a charge may exist even if the formal security document has not yet been executed, provided there is a binding agreement to create such security. Key Characteristics of a Charge
A charge generally:

• Creates a security interest over the company's assets;
• Secures the repayment of loans, financing facilities, or other liabilities;
• Gives the creditor certain rights over the charged assets upon default;
• May be created over present or future assets; and
• May arise immediately or pursuant to an agreement to create the security at a later date.

Types of Charges
Common types of charges include:
1. Fixed Charge
A charge over specific identifiable assets, such as:

• Land and buildings;
• Machinery and equipment;
• Motor vehicles;
• Shares; or
• Intellectual property.

The company generally cannot dispose of the charged asset without the consent of the charge holder. 2. Floating Charge
A charge over a class of assets that changes in the ordinary course of business, such as:

• Inventory;
• Stock-in-trade;
• Trade receivables; or
• Other circulating assets.

The company may continue to deal with these assets until the floating charge crystallises upon the occurrence of specified events, such as default. 3. Mortgage
A mortgage is a specific type of charge, usually created over immovable property, whereby the property serves as security for the repayment of a loan or other financial obligation. Practical Examples
Example 1 – Bank Loan Secured by Property
ABC Sdn. Bhd. obtains a loan from a bank and grants a legal mortgage over its factory as security.
The mortgage constitutes a charge under the Companies Act 2016. Example 2 – Debenture with Floating Charge
XYZ Sdn. Bhd. issues a debenture creating a floating charge over all of its inventory and trade receivables to secure banking facilities.
The floating charge falls within the definition of a charge. Example 3 – Agreement to Create a Charge
A company signs a financing agreement undertaking to execute a legal charge over its machinery upon the lender's request.
Even before the formal charge document is executed, the agreement to create the charge is included within the statutory definition of a charge. Purpose of a Charge
A charge enables a creditor to:

• Secure repayment of money lent to the company;
• Reduce credit risk by obtaining security over company assets;
• Enforce its rights against the charged assets if the company defaults; and
• Obtain priority over unsecured creditors, subject to applicable insolvency laws.

Compliance Requirements
Where applicable, companies should ensure that charges are:

• Properly documented;
• Executed in accordance with the relevant legal requirements;
• Registered where required under the Companies Act 2016 or other applicable laws;
• Accurately reflected in the company's statutory records; and
• Maintained as part of the company's corporate records.

Importance
The concept of a charge is fundamental to corporate financing because it:

• Facilitates access to financing by allowing companies to offer assets as security;
• Protects the interests of lenders and secured creditors;
• Provides legal certainty regarding security interests over company assets; and
• Supports commercial lending and investment activities within Malaysia's corporate framework.

 

《2016 年公司法》（第 777 号法令）

押记（Charge）

“押记”（Charge） 包括按揭（Mortgage），以及任何作出或签立押记或按揭的协议（Agreement to Give or Execute a Charge or Mortgage），无论该押记或按揭是应要求（Upon Demand）或在其他情况下设立。

实务说明（Practical Explanation）

押记（Charge） 是指公司就其资产设立的一种担保权益（Security Interest），作为偿还债务或履行其他义务的担保。

押记赋予贷款人或债权人在公司未能履行其还款责任或其他义务时，有权依法对有关担保资产行使追偿及执行权利。

根据《2016 年公司法》，“押记” 的定义十分广泛，包括：

• 对财产或资产设立的按揭（Mortgage）；以及
• 任何承诺于未来设立或签立押记或按揭的协议，不论该责任是即时产生、应要求时产生，或于日后产生。

因此，即使正式的押记文件尚未签署，只要双方已订立具有法律约束力的协议，同意日后设立押记或按揭，该协议亦属于《2016 年公司法》所定义的押记（Charge）。

押记的主要特征（Key Characteristics of a Charge）

押记一般具有以下特点：

• 在公司资产上设立担保权益（Creates a Security Interest over the Company's Assets）；
• 作为贷款、融资或其他债务的担保（Secures the Repayment of Loans, Financing Facilities or Other Liabilities）；
• 当公司违约时，赋予债权人对担保资产的执行权（Gives the Creditor Rights over the Charged Assets upon Default）；
• 可针对现有资产或未来资产设立（May Be Created over Present or Future Assets）；以及
• 可即时设立，或根据协议于日后设立（May Arise Immediately or Pursuant to a Future Agreement）。

押记的常见类型（Types of Charges）

1. 固定押记（Fixed Charge）

固定押记是指设立于特定、可识别资产上的押记，例如：

• 土地及建筑物（Land and Buildings）；
• 机器及设备（Machinery and Equipment）；
• 汽车（Motor Vehicles）；
• 股份（Shares）；或
• 知识产权（Intellectual Property）。

一般而言，未经押记持有人（Charge Holder）同意，公司不得出售、转让或处置该等资产。

2. 浮动押记（Floating Charge）

浮动押记是设立于公司日常经营过程中不断变动的一类资产上的押记，例如：

• 存货（Inventory）；
• 商品库存（Stock-in-Trade）；
• 应收账款（Trade Receivables）；或
• 其他流动资产（Other Circulating Assets）。

在浮动押记**固定化（Crystallisation）**之前，公司通常可继续正常使用、出售或处置有关资产。

当发生违约、清盘或其他约定事件时，浮动押记可固定化，并转变为对当时有关资产的固定押记。

3. 按揭（Mortgage）

按揭属于押记的一种，通常设立于**不动产（Immovable Property）**之上，例如土地或建筑物。

有关物业作为贷款或其他财务责任的担保，如借款人违约，贷款人可依法执行按揭权利。

实务示例（Practical Examples）

例子一：银行贷款以物业作抵押

ABC Sdn. Bhd. 向银行申请贷款，并以其工厂物业设立法定按揭（Legal Mortgage）作为担保。

该项按揭属于《2016 年公司法》所定义的押记（Charge）。

例子二：设立浮动押记的公司债券

XYZ Sdn. Bhd. 发行公司债券（Debenture），并以其全部存货及应收账款设立浮动押记，作为银行融资的担保。

该浮动押记属于《2016 年公司法》所指的押记（Charge）。

例子三：承诺设立押记的协议

某公司签署融资协议，承诺在贷款人要求时，以其机器设备设立法定押记。

即使正式押记文件尚未签署，该项承诺设立押记的协议，仍属于《2016 年公司法》对**押记（Charge）**的定义范围。

设立押记的目的（Purpose of a Charge）

设立押记有助于债权人：

• 确保借予公司的资金获得担保（Secure Repayment of Money Lent）；
• 透过公司资产作为担保，降低信贷风险（Reduce Credit Risk）；
• 当公司违约时，可依法执行担保资产（Enforce Rights Against Charged Assets）；以及
• 在适用的破产或清盘法律下，相较无担保债权人享有较优先的受偿地位（Obtain Priority over Unsecured Creditors）。

合规要求（Compliance Requirements）

如适用，公司应确保押记：

• 已妥善订立及具备法律效力；
• 按照相关法律规定签署及执行；
• 根据《2016 年公司法》或其他适用法律完成登记（如法律规定须登记）；
• 准确记录于公司的法定登记册及企业记录；以及
• 妥善保存作为公司的法定文件及企业档案。

重要性（Importance）

押记（Charge） 是企业融资制度中的重要法律概念，其主要作用包括：

• 让公司能够以资产作为担保取得融资，提高融资能力；
• 保障贷款人及有担保债权人的合法权益；
• 为公司资产上的担保权益提供明确的法律依据及保障；以及
• 促进马来西亚企业融资、商业贷款及投资活动的稳健发展，提升商业交易的法律确定性及市场信心。