Perniagaan.com.my is a Malaysian based site catered for the convenience and purpose of helping budding entrepreneurs and business minded people of Malaysia This is where you can find all the relevant information you need in setting up businesses and the rights of owning one. You will be able to find out more about how to run a business and the different legislations that govern business in Malaysia. We have also provided here in Perniagaan.com.my news and the latest updates in around the business world. This is where we provide you with the latest business news and updates happening in around Malaysia and the world. We have compiled the news and recent events in the business arenas around the globe to keep you informed. On top of that we have also provided a service where you can subscribe to the news alerts where we will send you headlines and updates directly to your mobile phone using the SMS (Short Messaging Service). Otherwise you can choose to have the headlines emailed to you.
References and relevant business information
To own a business in Malaysia, you have to first know who the regulatory bodies are. The most important body to first identify and register your business with is the Companies Commission of Malaysia also known as the SSM (Suruhanjaya Syarikat Malaysia). This is the governing body which you have to register your company with. Its main objective is to ensure that businesses are legitimately registered for operation. They govern the area where each company are properly set up as well as control the issuance of company names and details. Before you can start operating a business, you will first need to name your company which will be checked and approved by the SSM before approval is given.
There are two main types of businesses available for registration in Malaysia The first type is the sole ownership or the sole proprietor where you are solely responsible for all the operations, profit and loss of the compnay. That means the ownership of the company is named after you where you will have to undertake all risks of your business. Sole proprietor businesses are also divided into 2 types. The first are known as Enterprises. Enterprises are businesses which are solely owned by an individual where you will fully undertake all expenditure and income of the company. This is where, in an event of bankruptcy, you will have to undertake all liabilities of the company. The other type of sole ownership business are through a private limited nature which in Malaysia is known as Sendirian Berhad (Sdn Bhd in short). This is where the liability of the business rests on the company, where you will have to declare all expenditure and income of the business under the company’s accounts.
The other type of business is the partnership which is governed under the Partnership Act 1961. this is where there can be more than 2 owners of the business. By registering under more than 2 owners, you will be able to saturate the risks of the business instead of undertaking them independently. Partnerships are more common businesses as they are usually run by more than 1 owner.
For companies which are established and are growing, you can then grow the capital of the business by converting it into a public listed company. This is where you will issue shares of your company to the public to inject additional funds into the company. This type of business is where you will list your company under the Bursa Malaysia and then have the public trade shares of your company. Usually started with the Initial Public Offering, shares of your company will be offered to the public with a relatively low price and upon listing might see your share price slight higher.