KUCHING: The Companies Commission of Malaysia (SSM) has extended the free registration period of SSM BizTrust until December 2021 in an effort to support the growth of the online business sector in the country.
Domestic Trade and Consumer Affairs (KPDNHEP) Minister Datuk Seri Alexander Nanta Linggi said the initiative was in line with the changing trend of retail transactions which is now turning to online business.
He said the initiative also took into account the development of e-Commerce technology and business in the country, as well as public awareness of the new norms of life following the Covid-19 pandemic.
“An increase of 35 percent in online transactions and 53 percent increase in users of online transactions requires a mechanism and law to protect the users who conduct the transactions.
“Therefore, KPDNHEP through SSM introduced SSM BizTrust as a symbol of recognition and quality standards of business entities regulated by SSM, provided that the entity complies with the set criteria,” he said today.
He also mentioned that qualified and successful online merchants who have obtained SSM BizTrust certification will be able to display the SSM BizTrust logo on their websites, social media and business blogs.
“The extension of this free registration period shows the government’s commitment in helping to improve a healthy and ethical online business ecosystem.
“This will convince consumers to do business with the business entities involved, thus helping to protect consumers from online and physical transaction fraud,” he said.
As of Oct 31, a total of 4,181 online business entities have registered with SSM BizTrust, with 629 of them registered during the year.
Nanta said the number was still small at only 1.12 percent of the 373,213 online merchants recorded by SSM.
“This does not include online merchants who move alone and do not market their products on popular market place platforms on social media.
“Therefore, the ministry calls on more online merchants to take advantage of this facility and together with the government to rebuild the country’s domestic economy for a better future together,” he said.
KPDNHEP through SSM will also continue to implement awareness campaigns so that users who intend to conduct online transactions will check first and ensure that the transactions are made with a recognised business entity which has the BizTrust logo.
“This is important to protect consumers from being manipulated by irresponsible traders,” he said.
SSM BizTrust registration can be done through the portal
https://biztrust.ssm.com.my which operates 24 hours a day, seven days a week.