To Carry On Business As Merchants Companies in Malaysia
Under the Companies Act 1965, a merchant company is defined as a company which carries on business as merchants, bankers, money-lenders, Factors, brokers, commission agents, underwriters, Insurance agents, stock and share brokers, jobbers, Bill-discounters and as holders of merchant shipping.
A merchant company is required to have a minimum paid up capital of RM2.5 million. In addition, the company must also appoint at least 2 directors who are ordinarily resident in Malaysia. The company must also maintain a registered office in Malaysia.
The main activities of a merchant company are:
-To carry on business as merchants, bankers, money-lenders, Factors, brokers, commission agents, underwriters, Insurance agents, stock and share brokers, jobbers, Bill-discounters and as holders of merchant shipping.
-To engage in international trade and commerce.
-To act as agents or brokers for the sale or purchase of goods, commodities or services.
-To provide financing, credit and other financial services.
-To provide consultancy, advisory and other professional services.
A merchant company is required to have a minimum paid up capital of RM2.5 million. In addition, the company must also appoint at least 2 directors who are ordinarily resident in Malaysia. The company must also maintain a registered office in Malaysia.
The main activities of a merchant company are:
-To carry on business as merchants, bankers, money-lenders, Factors, brokers, commission agents, underwriters, Insurance agents, stock and share brokers, jobbers, Bill-discounters and as holders of merchant shipping.
-To engage in international trade and commerce.
-To act as agents or brokers for the sale or purchase of goods, commodities or services.
-To provide financing, credit and other financial services.
-To provide consultancy, advisory and other professional services.
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