By Nancy Nais
KUCHING, Nov 12: The Sarawak government has received the consolidation proposal for the Registration of Businesses Act 1956 from Companies Commission of Malaysia (SSM).
Disclosing this, Deputy Minister in the Sarawak Premier’s Office (Corporate Affairs, Information and Sarawak Public Communications Unit) Datuk Abdullah Saidol said the Act is currently not enforced in Sarawak.
“We have to be careful about this consolidation because it is about protecting our Sarawak’s rights and interest but at the same time we must also look into the interest of business communities. Our State attorney general is looking into it.
“These are the two things that we must consider for the benefits of Sarawakians. It has to be mutual for both sides,” Abdullah said after the launch of SSM Sarawak’s new office at Jalan Pending here today.
Earlier, caretaker Domestic Trade and Consumer Affairs (KPDNHEP) Minister Dato Sri Alexander Nanta Linggi said he is hopeful that the Act would be extended to Sabah and Sarawak one day.
This, he said, is because all businesses registered in Sabah and Sarawak are under the respective State’s jurisdiction.
Nanta explained that businesses registered under the Act with SSM could enjoy various benefits such as easy registration, owner has full control, lower cost, does not required filing of financial statements, and financial assistance from federal government.
“We are working on it with several discussions being made so that the Act can be used here in Sarawak because it is not only for SSM to improve their services but also for the benefit of business communities.
“Maybe there is this fear on how their power will be affected if this Act is extended to Sabah and Sarawak,” Nanta said.
However, he believed SSM will continue to study and negotiate for the Act to be enforced throughout country.
Nanta added that information on business entities within the SSM database is very useful when it comes to legal issues as users can identify the validity and existence of businesses to reduce the risk of fraud, as well as build consumer’s confidence in doing business.
When asked why was the Act not implemented in the two States from the beginning, Nanta explained that it was a in inherited legacy.
“There is no issue on this matter. It has been inherited as a historical aspect but moving forward, it would be good for Sabah and Sarawak to seriously adopt the Act. They should not worry about losing the authority over registration of companies because this can be finetuned and discussed by all parties involved,” he said. — DayakDaily
