CCM expects 48K new firms incorporated

KUALA LUMPUR: The Companies Commission of Malaysia (CCM) expects some 48,000 companies to be incorporated this year against 44,000
established last year.

Chief Executive Officer Datuk Azmi Ariffin said as of end-May, 18,825 local companies and 20 foreign companies were incorporated.

Azmi said with CCM signing a strategic partnership agreement with Telekom Malaysia Bhd (TM) and Bank Simpanan Malaysia (BSN) , the way was paved for more businesses to be established in Malaysia.

"Via the cooperation with BSN and Telekom, we expect about 4,000 new companies to be incorporated," he told reporters here today after the signing of partnership agreements witnessed by Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob.


To date, 950,000 companies have been incorporated while 4.5 million business registrations have been recorded.

The one-year strategic partnership will make it easy for the public to incorporate new companies and register businesses while enjoy special offers under the "Office in A Box" package which starts as low as RM198.

It offers voice service, data service, broadband Internet broadcast and value-added services all in one box.

Meanwhile, CCM also signed a three-year collaboration agreement with BSN where its 389 branches, nationwide, will act as agents for new business registrations and rake in about RM300,000 in service fee.

An extra RM3.50 will be charged for renewal of business licences at BSN counters

CCM has 14 state offices and six branch offices throughout Malaysia.

Senior Executive Vice-President Telekom Malaysia SME Azizi A Hadi said the "Office in A Box" product launched in March last year received overwhelming response from small-and-medium enterprises.

To date, it enjoys a customer base of 45,000 and this is expected to increase by 10 per cent every month. - Bernama