SSM Malaysia is Suruhanjaya Syarikat Malaysia or SSM, also known as the Companies Commission of Malaysia belongs to the parent department of Ministry of Domestic Trade, Co-Operatives and Consumerism.
With the objective of regulating corporate and business affairs in Malaysia, the statutory body was established in 2002 under the Companies Commission of Malaysia Act 2001.
With its headquarters at Menara SSM, KL Sentral, Kuala Lumpur, SSM discharges the responsibilities of the Registrar of Companies and Registry of Business.
The primary function of SSM as a statutory body is to incorporate companies and register businesses in Malaysia. It also provides company and business information to the public.
The commission opened SSM e-Info Services so anyone can collect information on businesses and companies through its website.
The SSM is the most important authority designated for the development of corporate governance in Malaysia and it also deals with supervising and enforcing activities to make sure proper compliance with business registration and corporate legislation in the country.
With the target to simplify the procedure of corporate amalgamation in Malaysia and cut businesses’ costs of compliance with Malaysian corporate law, SSM started an appraisal of the Companies Act 1965 in 2003.
There are eight functions of SSM Malaysia in total. It ensures that the requirements of the Companies Commission of Malaysia Act and laws are managed, implemented, given effect to, fulfilled and complied with.
It acts as a representative of the Government and offers services in administering, gathering and enforcing payment of prescribed fees or any other charges under the laws administered. It regulates issues about companies, corporations and businesses in relation to the law.
SSM supports and promotes proper conduct among employers and employees of a corporation, companies, industry groups, self-regulated corporations, and professional bodies in the corporate sector so every part of corporate and business activities are conducted in accordance with recognized standards of good corporate governance.
It improves and endorses the supply of legal corporate information and creates the capability whereby any corporate information collected by the Companies Commission may be scrutinized and supplied to the public.
The commission carries out research and orders studies on any matter regarding corporate and business activities.
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It gives recommendations to the Minister in general on matters relating to corporate and business activities in relation to the laws and lastly carries out all the activities.
that are essential or beneficial and proper for the management of the Companies Commission or for such other purpose as may be instructed by the Minister.
The extent of SSM’s authority can be expounded in seven points. SSM has the power to make use of all movable and immovable assets of the Companies Commission in any way deemed fit and correct by the Companies Commission and can secure loans from those assets at its disposal.
Under the regulations established under section 40, SSM can impose fees or charges for services provided by the Companies Commission as recommended by the Minister. It can assign consultants, experts or agents when required to help the Companies Commission in carrying out its functions.
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SSM has the authority to offer loans to the employees of the Companies Commission for purposes endorsed by the Minister. It can join forces or assist any other government agencies, societies/organizations or bodies to form partnerships in executing the responsibilities of the Commission and lastly the SSM can carry out all activities that are congruent with any of its functions and powers.
Under the Operation wing of the SSM, you will find the Marketing and Business Development, Corporate Development and Policy, Registration services and Branch Operations sections waiting to fulfill your business requirements.
All interested people who like registration service keep SSM Malaysia search online. In addition to dealing with registration matters, this division is accountable for creating and efficient companies and businesses registration process according to the provisions of the Acts and guidelines it administers.
At the same the registration services division is responsible for making sure that the updating of corporate information is carried out correctly and according to the specified Client Service Charter.
The Company Registration section deals with name search of companies, merger of companies, general documents and registration and approval of charges.
The Business Registration section deals with registration of new business, for example the registration of Sole Proprietorship or Partnership and registration by personal name as mentioned in identity card or by using trade name registration for changes in business particular like business address, business type, modifications of particular on branches and changes of information of owner or partner; renewal of company registration in Malaysia for foreigner and registration on termination of business.
The Interest Schemes Section ensures that interest schemes holders acquire their user rights as agreed in the trust deeds; those who operate interest schemes properly comply with the provisions under Interest Schemes Act 2016.
rustees discharge their responsibilities in protecting the interest of the interest scheme holders; the interest scheme industry can perform the duties of self-regulation, create the best practices and maintain an ethical industry.
After receiving the necessary approval from the Registrar/Ministry, the Corporate Administration Section will complete the tasks of coordinating and scrutinizing applications for the integration of Companies Limited by Guarantee (CLBG) governed by the Companies Act 2016.
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When you require time extension which falls under the jurisdiction of sections 259(2) and 340(1) of the Companies Act 2016, the coordination of corporate application section will process your application at SSM.
Services like processing the application for RELIEF/ WAIVER/ APPROVAL under sections 247(3), 255(1) and 575(7) of the Companies Act 2016; handling the brochure that is lodged under section 154 and 155 of the Companies Act 2016 about the publishing and offer of securities/shares; managing the quarterly reports and financial reports related to the section 182 of the Companies Act 2016 are offered this section as well.
Registration under the Trust Companies Act 1949 coordinates the registration of trust companies in Malaysia. It is tasked with processing applications to register trust companies, organizing the registration of trust companies, coordinating interviews for appointing Chief Executive Officers of trust companies and arranging interview reports for the consent of directors and Chief Executive Officers.
The Insolvency Section was established to deal with such issues like termination of companies; removal of company names of the registrar and asset management of obsolete companies;
Keeping records of companies being terminated willfully by the owner or by court order; regulating the compliance of Companies Act 1965 involving winding up and dissolution of companies; deletion of company name under Section 308 Companies Act 1965 and asset management.
Marketing and Business Development
Besides developing new products and services to raise the sources of revenue for SSM, the Marketing and Business Development division provides information on companies and businesses swiftly and proficiently in order to improve the quality of service delivery that satisfies customer’s needs.
There are four sections under the Marketing and Business Development division. The Product and Business Development section locates alternative financial revenue channels;
The needs of customers and forecasts customer behavior through market research; develops new product concepts in collaboration with the ICT division and teams up with the Public Affairs section to market products and service.
The Customer Management Section takes care of customer complaints as well as developing the complaint management system of SSM Malaysia search.
It sets up customer service procedures and policies and for use at the head office and branch/state offices; runs and monitors the helpdesk/hotline service for the public and assumes proactive action to enhance the quality of customer service.
The Information Services Section provides information over the counter or through post; value-added information services; manages and maintains the system for searching documents; and offers product support services to customers.
The Document Management Section under the Marketing and Business Development division prepares and maps the management of business and company documents, procedures regarding the security of documents, preserves , handles back-up system, image quality and discarding of documents.
Corporate Development and Policy
The Corporate Development & Policy Division primarily conducts legal research and reforms to make sure the laws and regulations administered by the SSM remain up-to-date.
It manages and develops relations with other international corporate administrators, regulatory authorities, government agencies professional bodies.
This division provides statistical analysis or information from SSM’s database in order to produce quality reporting for Malaysia’s corporate and business environment. Finally, it assumes strategic planning for SSM via corporate planning programs, project management and supervising activities.
This division has three sections under its wing; the Law Reform, Policy & International Affairs Section, the Statistics, Strategic Research & Reporting Section and the Corporate Affairs Section.
The Law Reform, Policy & International Affairs Section carries out controlled policy & regulatory research, drafts amendments and appraises legislation administered by SSM, recognizes possible areas of existing corporate regulations that needs amendments and undertakes activities in relation to amendments.
This division is also responsible for constructing, developing and maintaining relationships with professional bodies, co-regulators & other stakeholders, equally at the local and international arenas.
The Statistics, Strategic Research & Reporting Section collects and examines statistics on companies and businesses in the database and economic reports for the use of periodic and annual reporting.
The Corporate Affairs Section is responsible for the overall implementation of the Strategic Direction Plan by supervising and managing the status of activities and projects running in SSM Malaysia search.
It carries out and administers the annual action and business planning activities on top of implementing the Knowledge Management and corporate responsibility plans in SSM.
Branch Operations Section
The Branch Operation Section is the one-stop center for all issues regarding branch activities like collection of statistical data and secretarial services offered for branch operations meetings.
It serves as contact points for branch requests and other administrative issues and appraises claims made by branch managers.
The Branch Operation Section reviews and monitors all branch operational procedures, prepares standard operating procedures and evaluates budget for the entire branch operations. You may want to know about employees provident fund Malaysia.
This is the place where customer complaints on branch operations are looked into.