How to Change the Nature of Business for a Company in Malaysia?
Step 1 : Secretary need to check with the company’s M&A/constitution (the new nature of business it included in the object clause of the company), If yes, then no need to amendment to its M&A/constitution.
Step 2 : If the company do not have M&A/constitution than change immediately no need to amendment to its M&A/constitution under Companies Acts, 2016.
Step 3 : If company’s M&A/constitution need to change objects clause then need directors and members resolution to approve the changes nature of business of the Company to amendment to its M&A/constitution.
Step 4 : Finally, the company has resolved to change its nature of business via resolution prepare by Secretary and the company is required to notify SSM within 14 days from the date of such change via Practice Directive No. 2/2017.
Processing time for Change the Nature of Business for a Company :-
- Secretary preparing documents around 1-2 working days
- Directors/shareholders had to sign back documents 1-2 working days
- Filing to SSM 1-2 working days
- SSM update for the information 3-4 weeks (normal counter)
- SSM update for the information 3-4 days (express counter) (SSM Charges RM100)