SSM introduces New Company Registration Number Format – Key Updates.

Key updates from SSM:

1.  SSM (Suruhanjaya Syarikat Malaysia) has introduced a new 12-digit registration number format for business entities registered with the Companies Commission of Malaysia, effective 11th October 2019. This decision has been taken for better control and ease of information. This certainly is a good step in the right direction!
2. The objective of implementing this new registration number is in keeping with the national-level government initiative to introduce a standard business entity number format applicable throughout Malaysia. It is expected to help align all types of business entities with their registration numbers so as to facilitate usage by other governmental agencies.
3. This new registration number format will appear in all SSM’s corporate information supplied to customers. Business owners, however, do not have to make changes in their official letters, invoices, signage, and other documents until CCM announces the enforcement date of using only one number format.
4. This move is said to have been introduced by SSM to replace existing registration numbers of companies, businesses and limited liability partnerships. The Malaysian government has been trying to implement their Small and Medium Enterprises Master Plan 2012 to 2020 for a while now. The introduction of a single registration number falls directly under one of the programmes under this master plan – the Small and Medium Enterprise High Impact Program (SME HIP 1) commissioned by the Malaysian Administrative Modernisation and Management Planning Unit (MAMPU).
5. According to SSM, implementation of the new registration number format has also involved other bodies that issue registration numbers for business entities. The new number format for SSM’s business entities contains 12 digits, and its implementation is expected to facilitate data management and system development across departments as it is a number format that meets the standards for all types of business entities.
6. For companies, business and limited liability partnerships that are registered on or after the implementation of the new format, SSM will allocate two number formats, comprising the old and new formats, as follows:

          Name: AMS Karo Leya Sdn. Bhd.

          Registration No: 201902000007 (1625528-A)

7. The new number format contains the first four numbers, which shows the year the business entity was incorporated, the next two numbers indicate the type of the business entity and the last six numbers depict the running number of the business entity.
8. The types of business entities are 01 for local companies, 02 (foreign companies), 03 (businesses), 04 (local limited liability partnership), 05 (foreign limited liability partnership) and 06 (professional practice limited liability partnership).
9. SSM has said that the existing registration number could still be used, together with the new number, for a period of time to be intimated in due course.
10. If you are an owner of a Malaysian business entity, we’re sure you have quite a few questions and unanswered concerns.

SSM has published FREQUENTLY ASKED QUESTIONS (FAQs) to address some of the concerns relating to this new registration number. Please click here for the FAQs. While you can find some answers here, there is comfort in talking to an expert on the XBRL Reporting subject. You can email DataTracks at enquiry@datatracks.my  or call us on +60-392126125 any time, and we’d be happy to help!