Suruhanjaya Syarikat Malaysia (SSM) in Malaysia
The Suruhanjaya Syarikat Malaysia, abbreviated SSM (English: The Companies Commission of Malaysia) is a statutory body vested with the power to regulate and oversee corporate and business affairs in Malaysia. Formed in 2002 under the Companies Commission of Malaysia Act 2001, SSM assumes the functions of the Registrar of Companies and Registry of Business.
The Legal Frameworks of SSM
SSM operates under acts and regulations that are listed as below:
- Companies Commission of Malaysia Act 2001 (Act 614);
- Companies Act 1965 (Act 125);
- Registration of Businesses Act 2016 (Act 197);
- Trust Companies Act 1949 (Act 100);
- Kootu Funds (Prohibition) Act 1971 (Act 28);
- Act A1299 COMPANIES (AMENDMENT) ACT 2007
- Companies Regulations 1966;
- Registration of Businesses Rules 1957.
The Role and Function of SSM
As the leading authority for the improvement of corporate governance in Malaysia, SSM serves as an agency to promote compliance with business registration and corporate legislation through enforcement and monitoring activities, handles company incorporation and business registration as well as to provide company and business information to the public.
SSM Products and Services
SSM assumes the responsibilities to incorporate company and register business in Malaysia with its products and services that are available to the public. Aimed to simplify the process of incorporation in Malaysia and reducing the costs of compliance with Malaysian corporate law, the SSM began a review of the Companies Act 1965 in 2003.
Here are the services and products of SSM at one glance.
a) Business registration – For those who wish to incorporate their company and start doing business in Malaysia, SSM is a place that provides comprehensive guidelines about every nook and cranny of company incorporation and business registration
b) Apart from the business registration guidelines, the public can obtain guidelines for Application for an Auditor License as well as the guidelines for Registration of an Audit Firm from SSM.
2. Company incorporation and business registration
SSM is a one-stop company incorporation hub in Malaysia. Now you can register your business and get your company incorporated easily without much red tapes involved under the improved services of SSM.
Here’s a quick walkthrough of how SSM helps in company incorporation and business registration.
a) Incorporate your company.
b) Search and purchase of company and business information.
c) Looking for real time and accurate information of business entity and company information.
Generally speaking, SSM is the government agency that regulates and oversees corporate and business affairs in Malaysia. If you are starting a business soon in Malaysia, please be sure you have read this article before you proceed your business registration and company incorporation procedures with SSM.