Answer for Oral Question PL002

QUESTION

Yang Berhormat Dayang Hajah Safiah binti Sheikh Haji Abd. Salam

YANG BERHORMAT DAYANG HAJAH SAFIAH BINTI SHEIKH HAJI ABD. SALAM asked the MENTERI DI JABATAN PERDANA MENTERI DAN MENTERI KEWANGAN DAN EKONOMI II to state the effectiveness of company registration reforms through ROCBN, including the achievements, challenges and improvements required, as well as any unintended consequences, if any.

ANSWER

Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Kewangan dan Ekonomi II

ROCBN, under the Ministry of Finance and Economy, is committed to improving the efficiency, transparency and accuracy of the company registration process through full digitalisation via the One Common Portal (OCP) platform.

With the implementation of OCP, the registration process is now conducted entirely online and the processing period has been shortened to one working day. In terms of achievements, the rate of applications processed within the one-day Tekad Pemedulian Orang Ramai (TPOR) period in 2025 was approximately 84.3 per cent. This represents an increase of 11.6 per cent compared with the previous year, and 27.0 per cent compared with 2022.

The OCP platform also enables the public to verify the registration status of companies and the validity of the Business Registration Certificate, thereby supporting efforts to protect the interests of the business community and the public from questionable entities.

Nevertheless, several challenges have been identified:

i. First, the low level of compliance with regulatory requirements under the Companies Act (Chapter 39), Business Names Act (Chapter 92) and Income Tax Act (Chapter 35), particularly in the submission of Annual Returns and Income Tax Returns, which is a prerequisite for processing applications; and

ii. Second, there are still a small number of businesses that have not registered on the OCP platform. To ensure that businesses can fully benefit from this digital system, efforts to increase participation continue to be implemented through briefing sessions and meetings to provide technical guidance and raise awareness of the benefits of comprehensive registration.

In this regard, the Ministry is examining improvement measures, including studying options to further streamline the registration process and exploring suitable strategic collaborations to further enhance the efficiency and quality of service delivery.