General Trading Land And Property Investment Investment Companies in Malaysia

General trading land and property investment investment companies in Malaysia are required to obtain a license from the Securities Commission of Malaysia (SC) in order to operate. The SC is the regulator for all securities and futures related activities in Malaysia.

All licensed general trading land and property investment companies must comply with the requirements under the Securities Industry Act 1983 and the Securities Industry (Licensing) Regulations 1989.

Under the Securities Industry Act 1983, a general trading land and property investment company is defined as a company which:

(a) is engaged or proposes to engage in the business of dealing in or trading of land or property; or

(b) is engaged or proposes to engage in the business of providing financing facilities for the acquisition or development of land or property.

In order to obtain a license from the SC, a general trading land and property investment company must:

(a) be a public company with a minimum paid-up capital of RM5 million;

(b) have at least two directors who are not employees of the company;

(c) have its registered office in Malaysia; and

(d) appoint a Malaysian licensed bank or a licensed investment bank as its principal banker.

A general trading