ALL SDN BHD Companies can be dissolved or terminated by way of Striking Off Company or Winding Up Company. They have the same effect to cause a company ceases to exist. The 2 methods of closing down a company are very different in its procedures and process.
Striking off Company is simpler compared to Winding up of Company. To learn more about this, please head on to Striking Off Company.
As for Voluntary Liquidation, it can be classified into two types:
Members’ Voluntary Winding Up
Creditors’ Voluntary Winding Up
Upon a company commence its winding up, the Liquidator will take full control of the company and the Company Directors shall have no power over it. The company must cease to carry on its business unless it is in the opinion of the liquidator that the continuance of business is beneficial to the Company.