Gen Merchants Companies in Malaysia

A general merchant company is a type of business entity that is created to engage in multiple types of commercial activities. In Malaysia, these companies are regulated by the Companies Commission of Malaysia (SSM).

There are two types of general merchant companies: private and public. Private companies are limited to 50 shareholders, while public companies can have an unlimited number of shareholders.

General merchant companies must have a minimum paid-up capital of RM2 million. They are also required to have a minimum of two directors and a company secretary.

General merchant companies are allowed to engage in a wide range of commercial activities, including manufacturing, trading, agriculture, mining, and construction. They can also provide services such as banking, insurance, and transportation.

However, there are some activities that general merchant companies are not allowed to engage in, such as gambling and illegal activities.

General merchant companies are required to submit their financial statements to the Companies Commission of Malaysia on a yearly basis. They are also required to hold an annual general meeting (AGM) and to appoint an auditor.