What is the difference between a โ€œ๐˜€๐˜‚๐—ฏ๐˜€๐˜๐—ฎ๐—ป๐˜๐—ถ๐—ฎ๐—น ๐˜€๐—ต๐—ฎ๐—ฟ๐—ฒ๐—ต๐—ผ๐—น๐—ฑ๐—ฒ๐—ฟโ€ and a โ€œ๐—บ๐—ฎ๐—ท๐—ผ๐—ฟ ๐˜€๐—ต๐—ฎ๐—ฟ๐—ฒ๐—ต๐—ผ๐—น๐—ฑ๐—ฒ๐—ฟโ€?

Company Law

If you are a corporate lawyer and you ask your supervising partner the question above, be prepared that you may be told to do your own reading.

In short, a โ€œsubstantial shareholderโ€ of a company refers to a person who has an interest in one or more voting shares in the company which is 5% or more of the total number of all voting shares in the company. See section 136 of the Companies Act 2016 of Malaysia for details.

A โ€œmajor shareholderโ€ is defined in the Listing Requirements and means a person who has an interest or interests in one or more voting shares in a corporation and the number or aggregate number of those shares, is:

(a)ย 10% or more of the total number of voting shares in the corporation; or

(b) 5% or more of the total number of voting shares in the corporation where such person is the largest shareholder of the corporation.


This post first appeared on LinkedIn on 8 June 2023.

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