Aiming for more competitive SMEs

Better accountability: Kong says the new Act ensures company directors take more responsibility of the companys governance.

THE new Companies Act 2016, which is being implemented in stages starting from Jan 31, will help SMEs improve on governance and be more competitive even as it increases the ease of doing business in Malaysia.

As economies are increasingly liberalised, Incorp director Kong Ming Enn says local businesses must be reformed to compete with other companies when they move out to other countries as well as be able to compete with foreign companies coming into Malaysia.