KUALA LUMPUR, July 29 — The number of registered new businesses has exceeded the number of business closure applications, based on the records of the Companies Commission of Malaysia (SSM) for the period of April 1 to July 19.
Deputy Domestic Trade and Consumer Affairs Minister Datuk Rosol Wahid said a total of 4,542 business closure applications were received by SSM while 82,555 new businesses had been registered under the Registration of Business Act 1956.
“The statistics show that the number of new businesses registered far exceeds the total number of business closure applications, which is 95 per cent,” he said at a question and answer session in the Dewan Rakyat today.
He said this in his reply to a question from Cheras MP Tan Kok Wai who wanted to know the number of businesses that were shut down in April, May, June and July 2020, as well as the number of new businesses registered in the same period.
Meanwhile, Rosol said that the increase in the number of registration of companies from April to July was mostly from e-commerce sector or online businesses as it was within the period of the movement control order (MCO).
“Because at that time physical stores were not allowed to operate, so e-commerce or online businesses became the focus of traders then,” he said in his reply to a supplementary question from Pontian MP Datuk Seri Ahmad Maslan on the type of new business sector registered during that period.
— Bernama
