COMPANIES ACT 2016 substantial shareholding 《2016 年公司法》主要股权
COMPANIES ACT 2016
“substantial shareholding” has the meaning assigned to it in section 136;
Under the Companies Act 2016, the term substantial shareholding adopts the meaning assigned to it in section 136 of the Act. A substantial shareholding exists where a person has an interest in 5% or more of the total voting shares of a corporation, whether that interest is held directly or indirectly.
For the purpose of determining whether a person has a substantial shareholding, the Act recognises not only shares registered in the person's own name but also interests held through nominees, controlled corporations, trustees, custodians, or other arrangements in which the person has beneficial ownership or control. This broad approach ensures that significant ownership interests cannot be concealed through indirect holding structures.
The concept of substantial shareholding is fundamental to Malaysia's corporate governance and disclosure framework. A person who acquires, ceases to hold, or experiences a change in a substantial shareholding is generally required to comply with the statutory notification requirements prescribed under the Companies Act. These disclosure obligations enable companies, regulators, investors, creditors, and other stakeholders to identify persons who possess significant voting power or influence over corporate affairs.
A substantial shareholding does not necessarily confer control of a company. However, it represents a level of ownership that may materially influence shareholders' decisions, corporate governance, strategic direction, and significant corporate transactions. Accordingly, the Companies Act imposes reporting obligations to promote transparency, accountability, and confidence in the corporate sector.
Purpose of the Definition
The definition of substantial shareholding serves several important purposes:
“substantial shareholding” has the meaning assigned to it in section 136;
Under the Companies Act 2016, the term substantial shareholding adopts the meaning assigned to it in section 136 of the Act. A substantial shareholding exists where a person has an interest in 5% or more of the total voting shares of a corporation, whether that interest is held directly or indirectly.
For the purpose of determining whether a person has a substantial shareholding, the Act recognises not only shares registered in the person's own name but also interests held through nominees, controlled corporations, trustees, custodians, or other arrangements in which the person has beneficial ownership or control. This broad approach ensures that significant ownership interests cannot be concealed through indirect holding structures.
The concept of substantial shareholding is fundamental to Malaysia's corporate governance and disclosure framework. A person who acquires, ceases to hold, or experiences a change in a substantial shareholding is generally required to comply with the statutory notification requirements prescribed under the Companies Act. These disclosure obligations enable companies, regulators, investors, creditors, and other stakeholders to identify persons who possess significant voting power or influence over corporate affairs.
A substantial shareholding does not necessarily confer control of a company. However, it represents a level of ownership that may materially influence shareholders' decisions, corporate governance, strategic direction, and significant corporate transactions. Accordingly, the Companies Act imposes reporting obligations to promote transparency, accountability, and confidence in the corporate sector.
The definition of substantial shareholding serves several important purposes:
- Establishes the statutory threshold for identifying significant ownership interests in a corporation.
- Promotes transparency by requiring the disclosure of major shareholdings.
- Recognises both direct and indirect interests, including beneficial ownership and interests held through nominees or controlled corporations.
- Assists companies in maintaining accurate records of significant shareholders and ownership structures.
- Supports effective corporate governance by identifying persons capable of exercising significant influence over corporate decisions.
- Facilitates regulatory oversight of acquisitions, changes in ownership, and market transparency.
- Enhances investor confidence by ensuring that substantial ownership interests are properly disclosed and monitored.
《2016 年公司法》“主要股权（Substantial Shareholding）” 具有《2016年公司法令》第136条所赋予的涵义。根据《2016年公司法令》，“主要股权（Substantial Shareholding）”一词采用第136条所规定的定义。一般而言，若任何人士直接或间接拥有公司不少于5%的有投票权股份（Voting Shares）权益，即构成主要股权。在判断某人士是否拥有主要股权时，《2016年公司法令》不仅承认登记于该人士名下的股份权益，同时亦承认透过代名人（Nominees）、受控制公司（Controlled Corporations）、受托人（Trustees）、**保管人（Custodians）或其他安排所持有，而该人士拥有实益拥有权（Beneficial Ownership）**或控制权的股份权益。这种广泛的定义，旨在防止任何人士利用间接持股架构隐藏其重大股权权益，从而确保公司股权结构的透明度。“主要股权”的概念是马来西亚企业管治及股权披露制度的重要组成部分。任何人士取得主要股权、不再拥有主要股权，或其主要股权比例发生任何变动时，通常均须遵守《2016年公司法令》规定的法定通知及披露义务。该等披露制度有助于公司、监管机构、投资者、债权人及其他利益相关者识别对公司拥有重大投票权或重大影响力的人士。拥有主要股权并不必然代表拥有公司的控制权（Control），但其持股比例已足以对股东决策、企业管治、公司策略方向及重大企业交易产生重大影响。因此，《2016年公司法令》规定有关人士须履行法定申报义务，以促进企业透明度、强化问责制度，并提升公众对马来西亚企业市场的信心。________________________________________定义的目的“主要股权（Substantial Shareholding）”的定义具有以下重要作用：• 确立识别公司重大股权权益的法定门槛。• 透过重大股权披露制度，提高公司股权结构的透明度。• 承认直接及间接持股权益，包括实益拥有权，以及透过代名人或受控制公司持有的权益。• 协助公司准确保存主要股东及股权结构的法定记录。• 加强企业管治，识别能够对公司重大决策施加重大影响的人士。• 便利监管机构监督企业收购、股权变动及资本市场的透明度。• 透过规定主要股权须依法披露及持续监管，提高投资者信心及市场诚信。
Aug 02,2026