Suruhanjaya Syarikat Malaysia, SSM, also commonly known as Companies Commission of Malaysia, is said to the sole statutory body responsible for regulating and monitoring business incorporation and businesses within Malaysia.
It can be stated that all business entities that have already been incorporated or going to incorporate in future or is currently under incorporation procedure must go through under authentic surveillance steps initiated by the SSM.
SSM company registration steps and procedures are one topic that is highly cherished by many business owners and foreign investors from various nations.
The Companies Commission of Malaysia or SSM was introduced at the year of 2001 under the Companies Commission of Malaysia Act 2001.
SSM is allocated under the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) to initiate incorporation of various business companies, register businesses and maintains appropriate compliance between business company registration and corporate legislation through several enforcement and sorting activities.
The activities or role of SSM just doesn’t limit to what mentioned till now. They also play initiative and major roles regarding SSM company registration laws, company infrastructure, company name approval, licenses and permits, articles approval and many more.
Being the only sole corporate body assigned by the Malaysian Government SSM also play a vital role on acknowledging and providing vivid information required by the public in Malaysia and all around the world regarding company registration and business.
An information center, Companies Commission of Malaysia Training Academy (COMTRAC), was established in April 2007 by SSM to train and educate all sort of corporate bodies appointed in a Business Company which involves the directors, secretaries, management figures, employees, auditors, entrepreneurs, innovators and other company members with SSM’s functions, laws and regulations regarding business strategies stipulated under the Companies Commission of Malaysia Act 2001.
In today’s date, Malaysia is considered a prime business-oriented country with sorted resources, facilities and profit-making initiatives that they bring in for thousands of business owners and investors from various nations around the world.
To acquire more attention of investors towards Malaysia Business the SSM Company registration was reviewed at the year of 2003.
Simplifying SSM company registration policies to maximum for investors to understand and adapt easily plus reduction of the total cost of SSM company registration are the two main reasons for reviewing the Companies Act 1965 on 2003.
The main vision and mission of Companies Commission of Malaysia (SSM) are to train and educate all sort of company corporate figure-heads i.e. directors, secretaries, management figures, employees, auditors, entrepreneurs, innovators and other company members with SSM company registration policies stipulated under the Companies Commission of Malaysia Act 2001.
From March 2018 these Academy for education and training purposes is named COMTRAC & Knowledge Management Division.
The SSM Company Registration authentic body corporate takes several steps for inspection and enforcement to ensure subsequent compliance maintained between business registration and corporate legislation.
If any of the business companies or their respective owners try to make a cheap run or disobey any of the policies and regulations initiated by the Companies Commission of Malaysia Act 2001, they will be strictly punished – Cancellation of Business License, Ransom Charged and can even be jailed as per level of crime committed.
Being the only authorized body as corporate governance in Malaysia, SSM shows no mercy for Businesses or owners who try to disrupt regulation initiated for SSM Company Registration in Malaysia.