22 Nov 2023
Malaysian businesses need to remember to display their SSM registration number on websites and social media to avoid potential fines and penalties.
Business Transparency is Business Excellency
Many businesses in Malaysia have taken their first steps to reaching out to a wider global audience through the Internet. However, this shift to online business comes with its own set of legal requirements. One of these is the Suruhanjaya Syarikat Malaysia (SSM) registration number.
Legal Requirements of Displaying SSM Registration Number
The Companies Commission of Malaysia mandates that all registered businesses in Malaysia must display their SSM registration number on digital platforms. This is outlined in the Companies Act 2016 Section 30(2). This includes official publication including electronic forms, websites, financial documents like cheques and invoices, and all other business correspondence.
This requirement aims to enhance transparency and accountability in online business operations. Non-compliance can lead to significant penalties, including fines up to RM50,000, a three-year imprisonment, or a combination of both.
Displaying the SSM registration number is a small but significant step that Malaysian businesses must take. It’s not just about legal compliance; it’s about building a foundation of trust and credibility in the digital marketplace. Let’s embrace this practice not as a burden, but as a badge of authenticity and professionalism.