All Online wannabes… to register or not with Companies Commission of Malaysia (SSM)?

Shit! again making life miserable for us guys... wanna fight?

Last week the Malaysian dailies reported that all online (eCommerce) businesses must be registered with the Companies Commission of Malaysia (or SSM in Bahasa Malaysia)? The dailies further reported that more than 400 online businessmen are being charged in court for not registering their online business.


[via TheStar]
…they were charged under Section 12 (1) (a) of the Registration of Businesses Act 1956 (Amendment 2001) which carries a fine of up to RM50,000 or imprisonment not exceeding two years.

CAUGHT OFF GUARD!

I think the community of online entrepreneurs, both part-timers and full-timers alike were caught off guard. I can agree that every businesses should be registered, the government must first take cognisant of the fact that most online businesses are merely trying out or they are just small timers as well as part timers. Simply says, there are so many online-seller-wannabes around us. They made a simple site on free hosting, like on blogger.com, wordpress.com, or even marketplace in facebook, and post a few products with a hope of seeing some miracles. That’s it! But by definition of the Act, they are deemed to have a so-called “Online or e-commerce” site!

MAKE MONEY WITH ADSENSE, NUFFNANG….. What about those trying to make some small money with advertisements – google adsense, nuffnang or advertlets..?

In this case, all of those part-time-online wannabe-sellers are required to register to SSM (Suruhanjaya Syarikat Malaysia) to avoid getting charged.

Some guys within the online blogging community did check with the SSM – confirmed that this is the existing laws but of course the SSM is only going after those earning big bucks, like those industry involving gaming, newspaper and news.tv to name a few.

While it is alright for all online community to register, I felt SSM must make it easier for all of us guys to do so – we are just too use to the convenient way of doing things and do remember, it is not easy to make money online – just charge us RM5 token will do! And, that’s for all the troubles we all guys would have to take.

As for the internet-based insurance agents… or agents doing business online, I do not think you guys have any problem with this registration issue, since all registered agents with PIAM would have had registered with SSM or some other authorising bodies (like for those operating in East Malaysia).


What do you think?

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1 comment for “All Online wannabes… to register or not with Companies Commission of Malaysia (SSM)?

  1. August 22, 2010 at 13:25

    Excellent post on online business insurance! I really enjoyed reading it, and my site is about Online Home Business so I’m not just saying is lightly. Keep up the great work!

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