SSM MSIC Code
SSM MSIC Code stands for Suruhanjaya Syarikat Malaysia (SSM) Malaysia Standard Industrial Classification (MSIC). It's a system in Malaysia that categorizes businesses based on their economic activities.
Here's some key information about SSM MSIC Codes:
Purpose: Helps identify the industry a business belongs to for registration and regulatory purposes.
Version: The current version is MSIC 2008, based on the International Standard of Industrial Classification (ISIC) Revision 4.
Lookup: You can find the relevant MSIC code for your business using the official MSIC search engine system (https://msic.stats.gov.my/).
Represent the Business Nature and Activity
SSM MSIC Codes represent the business nature and activity of a company.
Here's a deeper look at how they achieve this:
Specificity: Each MSIC code is a unique 5-digit number assigned to a specific type of business activity. For example, code 47214 represents "Retail sale of meat and meat products (including poultry)," while 58211 represents "Publishing of newspapers."
Hierarchical Structure: MSIC codes are organized in a hierarchical structure, with broader categories at the beginning and more specific subcategories further along. This allows for a detailed classification of business activities.
Industry Coverage: MSIC codes encompass a wide range of industries, from agriculture and manufacturing to information technology and professional services.
By choosing the appropriate MSIC code, you're essentially providing a concise and standardized way to communicate the core nature of what your business does. This benefits both the company and the government:
Company Benefits: Choosing the right code ensures you're registered under the appropriate regulations and tax regime for your industry.
Government Benefits: MSIC codes help government agencies efficiently categorize businesses for regulatory purposes, track economic activity in different sectors, and develop industry-specific policies.
For more details, you can refer to the SSM website on MSIC Codes:
How Bestar can Help
Bestar focuses on company incorporation. Here's how Bestar can help with incorporating a company in Malaysia:
Registration Process: Bestar offers company registration services in Malaysia, aiming to be a fast and cost-effective option. We handle tasks, including:
Company name availability check.
Preparing and submitting incorporation documents.
Securing a registered office address (if required).
Appointing a company secretary (if needed).
Competitive Rates: We offer competitive pricing for company registration packages in Malaysia.
Free Services: We offer free services like company secretarial services for a year with our registration packages.
Nominee Director Services: Bestar provide nominee director services for an additional fee. This service can be helpful for foreigners incorporating a company in Malaysia.
Here's a breakdown of the benefits of using Bestar for company incorporation in Malaysia:
Convenience: Saves you time and effort by handling the registration process.
Expertise: We have experience with Malaysian company registration, ensuring a smooth process.
Cost-Effectiveness: Our packages might be competitive compared to handling it yourself.
Additional Services: Free company secretary services and nominee director options can add value.
Bestar's services are the best fit for incorporating your company in Malaysia.
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