Digital materials have been more popular in Malaysia during the past several years, and people’s need for educational resources is rising along with the literacy rate. Thus, it might be a good idea to venture into the publishing industry.
Your clients will be reassured that your brand is independent, reputable, and trustworthy if you have an established business when venturing into the printing and publications industry. Establishing a publishing business in Malaysia may be more difficult than expected to start a publishing business in Malaysia, especially when it comes to being a foreigner who is unfamiliar with Malaysia’s publishing industry landscape.
What Is a Publishing Business?
A publishing business can be acknowledged as a firm that specialises in the production and distribution of printed materials. These firms publish anything from cuisine, fiction, nonfiction, children’s publications, and even magazines. Thousands of volumes are published each year when one operates a major publishing company, while minor publishing companies put their focus on producing niche content. Nevertheless, a publishing company is responsible for much more than just printing and distributing printed materials. They are also responsible throughout the publishing process. In addition to printing, selling, and distributing books for their clients, some publishing companies also edit manuscripts, promote and advertise for the client, send out press releases, pick up-and-coming writers and manuscripts, and so much more.
Regardless of publication in the form of audio, online or printed, you are required to adhere to the rules and regulations set by the Ministry of Communication and Multimedia as well as the Ministry of Home Affairs. For those who fail to adhere, whereby the Home Affair Ministers deems them punishable, he or she might face up to three years in prison and a substantial amount of fine.
The Business Registration Process
Once you have prepared the relevant documents, you have to submit your application to the Companies Commission of Malaysia, also usually known as Suruhanjaya Syarikat Malaysia (SSM). It is compulsory for your business to register with SSM in order to be operated legally.
Next, you must ensure your company has at least two directors who must be at least 18 years and are Malaysian residents. Appointed individuals must not have any history of bankruptcy. Moreover, appoint one local director and one local shareholder for your team for the business registration process. If you are planning to establish a Sdn Bhd, it is a must for you to appoint a Company Secretary. In addition, make sure to provide a local registered business address and register your company tax with the Inland Revenue Board, also known as Lembaga Hasil Dalam Negeri (LHDN).
Licenses and Permits for Publishing Business
According to the Printing Presses and Publication Act (1984), all printing presses must receive a license issued by the Home Affairs Minister before operation. Also, this license has to be renewed every year. You must track and monitor your publication before establishing a publishing company in Malaysia.
A publication licence, a unique licence required for publishing firms in Malaysia, must be issued to a publishing company. These five stages are:
- Preliminary
- Licensing of Printing Presses,
- Permit to Publish Newspaper
- Control of Undesirable Publications
- Miscellaneous
The five stages serve as a safety net for any publishing company in Malaysia if they are tackled and carried out correctly. Before you start operations, it is crucial that you obtain the proper permits. Failure to comply with the rules and regulations, one might face up to three years in prison and a fine of up to RM 20,000.
Want to know more about starting a Sdn Bhd? What’s the best way to start one, and what should you be mindful of? Register and find out in our upcoming webinar!
Are you ready to form your Sdn Bhd with Malaysia’s #1 award-winning Online Company Secretary? Contact us now via WhatsApp @ 018-7678055!