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Starting A Business

Improvements in 2007
 
STARTING A BUSINESS
 
1. Improvement Measures by The Companies Commission of Malaysia (SSM)
SSM has actively engaged in reducing the time taken for approval of activities such as:
  • Registering new business from 3 days to an hour
  • Renewal of registration from 1 day to 15 minutes
  • Approval of company's name and incorporation from 5 days to 1 day
  • Registration of Charge from 5 days to 2 days
  • Register of Deeds of Trust and Prospectus from 14 days to 5 days
 
2. Improvement Measures in Hotel Sub-Sector
  • Establishment of Company
    • Reduce approving time from 96 days to 37 day

       
  • Construction of Hotel
    • Reduce approving time from 405 days to 97 days
    • Reduce no. of approvals required from 40 to 28

  • Operation of Hotel
    • Reduce approving time from 45 days to 9 days
    • Reduce no. of approvals required from 20 to 4

  • Post-Operation of Hotel
    • Reduce approving time from 90 days to 60 days