Companies Commission of Malaysia (SSM) in Malaysia
The Companies Commission of Malaysia, (SSM) is a statutory body authorized to regulate and oversee corporate and business affairs in Malaysia.
By AZIZAM AZIZAN
Established in 2002 under the Companies Commission of Malaysia Act 2001, SSM took over the functions of Registrar of Companies and Registration of Businesses.
SSM’s role is to improve corporate governance by serving as an enforcement and monitoring agent, handling company incorporation and business registration as well as providing company and business information to the public.
SSM LEGAL FRAMEWORK
SSM operates under the acts and regulations listed below:
1. Acts
• Companies Commission of Malaysia Act 2001 (Act 614);
• Companies Act 2016 (Act 777);
• Business Registration Act 2016 (Act 197);
• Trust Companies Act 1949 (Act 100);
• Kootu Funds (Prohibition) Act 1971 (Act 28);
• Act A1299 COMPANIES (AMENDMENT) ACT 2007
2. Rules
• Companies Regulations 1966;
• Business Registration Regulations 1957.
In general, SSM is a government agency that controls and monitors corporate and business affairs in Malaysia. If you want to start a business in Malaysia, please make sure you read this article before proceeding with the business and company registration procedure with SSM.