简介
马来西亚《2016年公司法》（简称“公司法 2016”）第366条及370条进行的公司合并或重组是马来西亚企业重组的常用工具。它可实现资产与负债从转让方向受让方的无缝转移，通常适用于集团内部架构中两家公司最终由同一控股股东持有的情形.
过去普遍认为（且实践中常见），在此类情形下可豁免第366条规定的计划会议召开要求——尤其是当结果已无悬念且计划会议仅被视为形式流程时。
然而，在近期的判决中，吉隆坡高等法院在 In Re: PureCircle Trading Sdn. Bhd & Anor [2025] CLJU 588 一案中作出了关键澄清：即使在仅涉及一个共同股东的内部重组中，召开方案会议的法定要求仍属强制性。
该案涉及PureCircle集团内部重组，具体为将PureCircle Trading Sdn Bhd（”转让方“）合并至PureCircle Sdn Bhd（”受让方“）（简称”合并“）。两家实体均为Pure Circle Limited全资子公司，重组的目的是通过安排计划及法院批准的合并将转让方资产与负债转移至受让方。
本更新将总结高等法院审议的核心问题及其裁决要点。
关键问题与法院认定
问题1：即使仅涉及单一成员，召开计划会议亦不可豁免
法院裁定，方案会议是法定要求，与公司章程所规定的一般会议不同 (由公司章程文件规范)，其召开须依据法院的召集令及公司法 2016的相关条文。即使结果已成定局，法院亦无权根据第366(1)条免除召开方案会议的义务。
不过，法院行使酌情权，缩短了方案会议的通知期限，以及会议与批准听证会之间的时间，以便内部重组不被延误。
问题2：纯股东方案无需债权人会议
法院确认，当方案不影响债权人利益时, 则无需召开债权人会议。本案中两家公司在方案实施前后均具备偿付能力，且未损害任何债权人权益。
问题3：第366条合规是第370条归属令的前提条件
法院澄清，第370(2)条下的附属命令（包括资产归属与转移）仅可在公司法 2016第366(4)条方案获批后方可授予。因此，依据第366条建立有效且程序合规的方案，是法院行使第370条附属命令管辖权的先决条件。
问题4：允许利用方案进行内部重组
法院认为，即使资产与负债的转移本可通过私下方式完成，只要该重组安排包含“妥协”成分，即具有“互让互利”的元素，即属合法安排。该妥协是否亦可通过私下协议达成，并不影响其合法性。若作出相反裁定，将无理限制资产归属条款所赋予的法律效益，并阻碍公司重组或合并程序的顺利推进。在本案中，转让方的资产与负债被转移予受让方，且转让方由此被视为已解除对相关负债的责任，构成足够的“互让互利”。因此，该安排不构成程序滥用。
结论
本判决为马来西亚企业重组实践提供了关键指引。法律从业者与客户在依据公司法 2016第366条与370条推进安排计划及重组/合并时，必须确保严格遵循程序要求。
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英文版本的快讯可在此查阅。
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