The Negeri Sembilan Investment Centre (NSIC) is a one – stop centre, with the objective of assisting investors, particularly foreign companies, set up or expand existing operations in Negeri Sembilan. It strives to a “hand - held approach” in assisting investors to start operations in the shortest possible time and with minimum red tape.
It provides relevant, timely information and advice to investors pertaining to procedures on starting a manufacturing operation, information on industrial sites, the availability of manpower, employee costs and utility rates. The NSIC facilitates investors with approved manufacturing licenses obtain approvals for their building plans as well as negotiate on behalf of investors in land matters. The Centre also introduces investors to potential joint-venture partners, service providers, professionals such as building consultants, accountants and lawyers, government agencies, and research institutions with the aim of speeding up the implementation of approved projects. The NSIC assists companies to comply with federal legislations such as the Industrial Coordination Act 1975 and the Companies Act 1965.
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Starting a Manufacturing Operation
The Companies Act 1965 governs all companies in Malaysia and is based on the British Act. It requires a person to register a company with the Companies Commission of Malaysia in order to engage in any business activity. One popular way of doing business in Malaysia is through a Private Limited or Sendirian Berhad (or Sdn Bhd for short) company. Such companies are limited by shares. The personal liabilities of their members are limited to the par value of their shares and the number of shares taken or agreed to be taken by them.
The Industrial Co-ordination Act 1975, requires manufacturing companies with shareholders’ funds of RM2.5 million and above or engaging 75 or more fulltime employees to apply for a manufacturing license for approval by the Ministry of International Trade and Industry. Applications for manufacturing license as well as for incentives and pioneer status can be forwarded to the Negeri Sembilan Investment Centre (NSIC) or the Malaysian Industrial Development Authority (MIDA).
The NSIC assists investors seeking incentives provided for in the Promotion of Investments Act 1986, Income Tax Act 1967, Customs Act 1967, Sales Tax Act 1972, Excise Act 1976 and Free Zones Act 1990. These include tariff-related incentives that come under the Ministry of Finance and the Royal Customs Department.
Negeri Sembilan Investment Centre (NSIC) was established with the aim to help investors, particularly foreign companies, to set up new projects or expand existing operations in Negeri Sembilan. It assists them to start operations in the shortest possible time and with minimum of bureaucratic red tape.
It is mandated to give investors all the necessary information and advice they may need about the setting up of manufacturing operation in Negeri Sembilan – from details of location and key business sectors to the availability of labour, employee cost and telecommunications and water rates to the process of getting the necessary government approvals.
The NSIC acts as a one-stop centre to assist investors with approved manufacturing licenses to get their building plans approved. It can also negotiate on behalf of investors in land matters, legal and other administrative requirements in order to minimize delay in implementing their projects. It can also introduce investors to potential joint – venture partners, service providers, professionals such as building consultants, accountants and lawyers, government agencies or research institutions.
NSIC can also help companies to comply with federal legislations such as the Industrial Coordination Act 1975, Companies Act 1965, Customs Act, Promotion of Investment Act 1986 and etc.