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How to Set Up a Publishing Business in Malaysia
As one of the fastest-growing economy in South East Asia, creating and running a publishing company in Malaysia can be very profitable and rewarding. When done correctly, the publishing business in the nation is a thriving industry that can be harnessed. If you are looking to set up a publishing business in Malaysia, this article is a must-read.
According to the Printing Presses and Publication Act (1984), all printing presses require a license granted by the Home Affairs Minister, which is to be renewed every year. Before you set up a publishing business in Malaysia, you will have to monitor and track your publication. If your business is not complying with the rules and regulations, you can be sentenced up to three years in jail and a fine of up to RM20,000.
To set up a publishing business in Malaysia, each company will have to be registered, following procedures. There are specific criteria to be followed, and there are specific differences given by the business fields in which these companies operate. For example, in the publishing business, the companies will have to require the issuance of a special permit that is essential for companies in the field of publishing magazines or books.
Why and How to Set Up a Publishing Business in Malaysia?
Publishing is an economic area that continues to grow, despite the fact that it is already a huge business. Other than the traditional general publishing business that provides physical printings, Malaysia is experiencing a massive demand for digital materials, especially in recent times. With the right assistance and technology advancements, you can set up your own publishing business in Malaysia.
Having an established company will enable you to offer assurance to your customers that your brand is independent, reliable and trustworthy. Setting up a publishing business in Malaysia can be more challenging than you might expect. When it comes to publication, be it audio, online or printed, you will have to abide by the rules and regulations set by the Ministry of Communication and Multimedia and the Ministry of Home Affairs. Any offences that you might generate, should the Home Affairs Minister consider them to be punishable, you shall be spending up to three years and a fine of considerable amount.
Procedure on How to Register a Publishing Company in Malaysia
Since the establishment of a publishing company in Malaysia, it has been open to anyone, comprising of local and foreign businesses. But the question of setting up a brilliant publishing company in Malaysia, is how? As the investor, you will need to submit the following documents when registering at the SSM (Companies Commission of Malaysia);
- Company’s trading name;
- Company’s business activities;
- The identity cards or passports of the directors;
- The identity documents of the shareholders;
- The shareholder’s structure.
There are five stages that you will need to understand and comply with from the Printing Presses and Publications Act. A publishing company in Malaysia will require the issuance of the publication license, which is a special permit necessary for companies in the publishing field. These five stages namely are:
- Licensing of Printing Presses,
- Permit to Publish Newspaper
- Control of Undesirable Publications
When approached and executed well, the five stages will be a safety net for any publishing business in Malaysia.
The publishing industry has prospered in recent years as new technologies have made their way into the field. It is a very lucrative field as there will always be audiences that want to consume information. Therefore, take the time to make sure that your company follows all the rules and guidelines, as well as taking the necessary right steps to make your company succeed.
Get Yourself Started!
With the emergence of new writers and new topics of interest daily, there will be no lack of demand for printed as well as digital material in Malaysia. As one of the biggest and most developed economies in South East Asia, Malaysia is a prime location for equal chances to strive regardless of the language it is printed in.