This research aims to determine the effect of activity, sales growth and intellectual capital, toward financial distress on manufacture company in Indonesia and Malaysia. Samples of the research were manufacture companies that listed in Indonesia Exchange Stock and Malaysia Exchange Stock on 2015-2017. This research uses secondary data collected. The technique of the data collection is using purposive sampling and it collected 234 samples in Indonesia and 255 samples in Malaysia. This research use SPSS version 21 as data analysis tool. The result of the research showed that activity and sales growth has no effect on financial distress, while intellectual capital has significantly negative effect on financial distress in Indonesia and Malaysia.