Malaysia | Registry ScorecardPresentation Transcript
Registry Scorecard Malaysia
About Us• The Companies Commission of Malaysia (SSM) is a statutory body formed as a result of a merger between the Registrar of Companies (RoC) and the Registrar of Businesses (RoB) in Malaysia which regulates companies and businesses. SSM came into operation on 16 April 2002.• SSM serves as an agency to incorporate companies and register businesses & provides company and business information to the public.• As the leading authority for the improvement of corporate governance, SSM fulfils its function to ensure compliance with business registration and corporate legislation through comprehensive enforcement and monitoring activities so as to sustain positive developments in the corporate and business sectors of the Nation.
Statistics• Companies – Total number of registered companies: 1,017,941 @ 31 December 2012 – Total number of new companies registered in 2012: 45,441• Businesses – Total number of registered businesses: 4,971,483 @ 31 December 2012 – Total number of new businesses registered in 2012: 324,761
Staffing• Total Staff - 1242• HQ - 659• State Office/Branches - 583
Latest Features• In September 2012 opened SSM’s business centre at Malaysia’s Kuala Lumpur Urban Transformation Centre (UTC KL)• Linked SSM’s web based e-Info system with Malaysia’s online franchise registration system known as MyFEX launched on 29 May 2012• Implementation of web based mobile system utilizing html5 for Smartphone and tablet users• Validation check on certificates - implement and print QR Codes as certificates; QR Codes serve as a validation check
Risks/Concerns• Corporate hijacking• Errors in data entry process• Appointment of officer of company not reflected in system• Issue on sharing of ID and passwords