Online traders under e-commerce must register with CCM

MALACCA: The Companies Commission of Malaysia (CCM) will require all online traders who carry out businesses via marketplace or e-commerce companies such as Lazada to register with the commission within the next six months.
CCM Chief Executive Officer, Datuk Zahrah Abd Wahab Fenner said the move was aimed at protecting consumers from being cheated, give confidence to buyers, besides being in line with the Registration of Businesses Act 1956.
"Initially, it will involve online traders who sell products through platforms like Lazada, and will be broadened to other market places including Fashion Valet and others.
"This initiative will be undertaken via a memoranda of understanding with e-commerce companies in the country in stages," she told the media after CCM's corporate zakat distribution presentation here, last night.
Also present were Tangga Batu Member of Parliament who is also Science, Technology and Innovation Deputy Minister, Datuk Dr Abu Bakar Mohamad Diah and Ministry of Domestic Trade, Cooperatives and Consumerism Secretary-General, Datuk Seri Jamil Salleh who is also CCM Chairman.
Elaborating further, Zahrah said CCM would give a 30-day period for the traders to register with it after their businesses on the e-commerce platform were profitable.
She said this would be monitored by the e-commerce firms involved and traders who failed to register their businesses would be dropped from participating in the online platform.
"Action will be taken under the Act on traders who did not register, and if convicted, may face a two-year jail term or fined RM50,000, or both," she said. — Bernama