KUCHING: The Domestic Trade and Consumer Affairs Ministry (KPDNHEP) is looking into amending several existing rules and laws both governing and being enforced by the Companies Commission of Malaysia (SSM) to create a better business environment.
Its minister Datuk Seri Alexander Nanta Linggi said this was in line with the current dynamic business environment.
“We have to look at the existing rules and laws within SSM that we think should be amended or even repealed.
“The ministry wants to promote ease of doing business and bringing the cost of businesses down,” he said in a press conference after attending Malaysia Prihatin programme with the Federation of Chinese Associations Sarawak at City Square, Jalan Pending today (April 3).
The minister said this was among the things he wants to focus on and to lead the minstry going forward.
“Many other developed countries have new governance to facilitate business, so we want to be on par with them.
“In Malaysia, SSM is looking at New Zealand which allows moveable assets to be charged collateral for credit. For instance, they have a mechanism for valuing sheep or cattle,” he said.
He stressed that the policy must encourage more people to do business instead of making things difficult.
“Also, another major thing the ministry wants to focus on is anti-competition or cartels or those monopolising businesses.
“We want to break monopolies to create a more competitive business environment that is good for the people, consumers, and businesses,” he said.
There are three agencies under the ministry, namely, SSM, Malaysian Competition Commission (MyCC) and Intellectual Property Corporation of Malaysia (MyIPO).
He also urged those who own any business to register it with SSM to enjoy the various available initiatives.
“In Sarawak, there are avenues for people to register under the Business Names Ordinance but not with SSM.
“If they do not register with SSM, then when the government works out on some assistance to assist small businesses, they might be left out because their details are not in SSM’s database,” he said.
Also present with him was the Federation of Chinese Associations Sarawak president Datuk Richard Wee.
