Bank Negara (BN)
For businesses that fall under the Banking and Financial Institutions Act 1989 such as banking, money broking, discount houses, provision of credit and finance, merchant banking, deposit taking and certain other financial businesses.
Construction Industry Development Board
All companies in the building and construction field must obtain a license from the Construction Industry Development Board (CIDB) before undertaking any construction and related activities in the country.
Malaysian Industrial Development Authority (MIDA)
Under the Industrial Coordination Act, 1975, any person engaging in any manufacturing or services (e.g. healthcare, hospitality, oil & gas) activities in Malaysia must obtain a license from MIDA. MIDA is also the first port of call for foreign companies wishing to establish representative/regional offices in Malaysia.
Ministry of Finance (MoF)
Companies are required to be licensed by MoF in order to successfully bid for government tenders.
For multimedia companies to obtain MSC status which provide competitive financial incentives such as 100% tax exemption for up to 10 years or an Investment Tax Allowance for up to 5 years, and no duties on import of multimedia equipment.
Multimedia Development Corporation (MDeC)
Oil companies wishing to explore, obtain and win any oil and gas contracts in Malaysia have to enter into a production sharing contract with PETRONAS. Any company wishing to conduct or carry on any business related to upstream petroleum activities is required to be licenced by PETRONAS.
Petroliam Nasional Berhad (PETRONAS)
Under the policy on foreign participation in wholesale and retail trade, all proposals for foreign involvement in wholesale and retail trade must obtain the approval of the Committee on WRT. This includes the opening of new branches and relocation.
Wholesale and Retail Trade (WRT)
Please do not hesitate to contact us to discuss other licensing requirements which are not addressed above.