what is a private limited company?

Answer 1

A company is a business entity registered under the Companies Act, or its equivalent. It has a legal personality i.e. it has rights to own properties, it has perpetual succession and it can sue or be sued in its own name.

It usually has the words 'Pte Ltd' or 'Ltd' as part of its name.

Private company limited by shares is one where the members' liability is limited to the amount unpaid on shares they hold. Once they have fully paid up their shares, they don't owe the company anything.