Business Of Importing Companies in Malaysia

Business of importing companies in Malaysia are generally import-oriented. This is because Malaysia is a small country with a population of only 30 million people. Therefore, the Malaysian market is too small for many companies to justify the establishment of a production base in the country. As a result, most companies choose to import their products from other countries.

The main products imported into Malaysia are electronics, machinery, petroleum products, chemicals, iron and steel products, and food. Malaysia’s import trade is dominated by a few large companies, such as Petronas, Sime Darby, and Genting.

The importation of goods into Malaysia is subject to various laws and regulations, such as the Customs Act, the Sales Tax Act, and the Excise Act. These laws and regulations are designed to protect the Malaysian market from unfair competition and to ensure that only quality goods are imported into the country.

In order to import goods into Malaysia, a company must first obtain an import license from the Malaysian government. The import license is valid for a period of one year and can be renewed.

Once a company has obtained an import license, it must then register with the Malaysian Customs Department. The registration process is relatively simple and can be done online