SSM Registered Business Entities to Have New Format for Registration Numbers
Business entities registered in Malaysia will now have a new registration number format when they register with the Companies Commission of Malaysia (SSM). Beginning January 2019, these new registration numbers for business will contain 12 digit characters which are designed to help facilitate data management.
This new format adopted by SSM is similar to the ongoing practice in Singapore carried out by the Accounting and Corporate Regulatory Authority (ACRA). In the new format, the first 4-digits represent the year of incorporation, which makes it easier for local tax authorities to determine if the business entity is still qualified for the first 3-year tax exemption.
Type of Companies Applicable to New Format Registration Number
The new format will replace the old registration numbers, and is applicable to locally incorporated companies and businesses, foreign companies, limited liability partnerships and audit firms. Limited liability partnerships include professional, local and foreign entities.
On 22 November 2018, SSM issued a letter which served as a pre-notification and introduction of the new registration number format. All new companies registered with SSM will adopt this new format as their registration numbers with effect from January 2019. All existing companies which are currently registered with SSM will be provided with a new registration number which will be allocated to each company already registered with SSM during the transition period.