How to Change Business Name in Malaysia?

Are you wondering how to change your business name in Malaysia? Changing business name in Malaysia and your Malaysian-registered Company name is possible, and most companies have changed their company name because:

• The company has undergone a change of management
• The company has undergone a change of shareholding
• The company has changed its business direction
• The company has changed its business activities
• The company is going through a rebranding process
• The company intends to change its name for the shelf company

The person responsible to lodge the changes of a Company name once its resolved is the appointed Company Secretary. The cost to proceed with a change of name is MYR 150.

Guidelines for selecting a Company Name in Malaysia

• A general guideline for selecting company names includes:
• The proposed name must have a specific definition
• If the proposed name is not in Bahasa Malaysia or English, it must be clarified clearly.
  For example: Oishii Sushi Sdn. Bhd. – Oishii means delicious in Japanese
• The proposed name must not be blasphemous or offensive
• The proposed name must not contain elements that resemble religion
• The company is going through a rebranding process

Examples:

1. ABC Ice Cream Sdn. Bhd. – A – Apple, B – Banana, C – Cherry Ice Cream Sdn. Bhd.
2. Oishii Sushi Sdn. Bhd. – Oishii means delicious in Japanese
3. Ramu Pharma Sdn. Bhd. – Ramu is the name of the director in the Company (a consent letter needs for such names)
4. Paul Hype Page Sdn. Bhd. – Paul Hype Page is similar name to sister Company in Singapore (a consent letter will be required for such proposed names)
5. Petronas Sdn. Bhd. – Petronas is a trademark name (a consent letter from owner is needed for such proposed names)

Procedure to change a Company name in Malaysia

Similar to the initial incorporation of a company, the Companies Commission of Malaysia – Suruhanjaya Syarikat Malaysia (SSM) approves the new proposed name.

• The Company’s representative must inform the appointed Company Secretary of their plans to change the Company name
• Directors’ NRICs/ Passports are needed for the Company Secretary to proceed with the new proposed name reservation application
• Nature of business in general
• The appointed Company Secretary is responsible to lodge the new proposed name via online application with SSM at cost of MYR 50
• It will take 1 to 3 working days for SSM to update the application status
• Once SSM has approved the new name, the Company Secretary will then prepare the special resolutions for the board of directors of the company to sign offFrom the date of approval of the proposed name, the Company Secretary must submit the required documents over the SSM counter within 30 days.
• According to the Company Act 2016, the Board of Directors exclusively signs the special resolutions to finalize the approval of the change of Company name. However, if a Company adopts a constitution, they needs to prepare a resolution and conduct an Extraordinary General Meeting (EGM) by its Memorandum & Articles of Association
• Once done, the appointed Company Secretary must submit the Special Resolution, Section 27 (1) (4) and Section 28 over the SSM counter to complete the application with a cost of MYR 100
• Notice of Change of Name will take within 1 to 3 working days by SSM upon compliance with the procedures and submissions of duly to complete fully  documents

Once the new name receives approval, the Company must prominently display the previous name alongside the new name in all Company-related documents for the next 12 months (commencing from the approval date of the new name).

What happens after the approval of the new Company name in Malaysia?

After the new company name receives approval from SSM, the Company Secretary should then provide you with the following documents:

1. Section 27(1)(4) – Application and reservation for availability of names
2. Section 28 – Application for change of name
3. Section 17 – Certificate of Incorporation on Change of Company Name
4. Letter of approval mailed by SSM to confirm the change of name is successful
5. Latest Company profile, indicating the new name as well as the previous name

These documents are crucial for any Company official matters such as:

• Company banker must to inform of the new Company name to update their system
• General licenses needs to update with the new Company name
• Employees Provident Fund (EPF) profile needs to update with the new Company name online on their official website
• Social Security Organisation (SOCSO) profile needs to update with the new Company name online on their official website
• Inland Revenue Board – Lembaga Hasil Dalam Negeri (LHDN) profile needs to update with the new Company name online on their official website