Looking forward to more company registrations

Headline: Looking forward to more company registrations
Publication: NST
Date of publication: Jul 13, 2011
Section heading: Main Section
Page number: 011

KUALA LUMPUR: The number of companies registered with the Companies Commission of Malaysia (SSM) is expected to increase by five per cent a month, thanks to a strategic collaboration with Telekom Malaysia Bhd (TM).

Under the pact, TM will offer its "Office in a Box" (OIAB) packages to new and existing small and medium enterprises and sole proprietors, and to those who wished to upgrade their voice and broadband packages.

OIAB - which combines business broadband, voice, value-added services and CPE (wireless modem, DECT phone) - offers savings on broadband and the Internet. Packages are available at between RM198 and RM268 a month.

TM executive vice-president Azizi A. Hadi hopes the offer will drive budding entrepreneurs to set up businesses.

He said TM currently has 45,000 OIAB customers and this was expected to increase by 10 per cent a month.

SSM chief executive officer Datuk Azmi Ariffin said the commission gets an average of 4,000 new company registrations a month or about 40,000 a year.

"We expect this to increase to 48,000 this year. Year-to-date, we have 18,825 companies registered with us," he said here yesterday, after inking a one-year agreement with TM.

There are 950,000 companies registered with SSM and actively involved in various businesses.

SSM also signed a three-year agreement with Bank Simpanan Nasional, allowing SMEs and other business owners to renew their licences at 389 BSN branches nationwide at a fee of RM3.50 for each transaction.

The tie-up with BSN will benefit business owners in rural areas or too far from the more than 20 SSM branches, which are located in major cities.