For every one business that shuts down, 18 new ones appear

Datuk Rosol Wahid. -filepic

KUALA LUMPUR: Every time a company closes, 18 new businesses opened between April 1 and July 19 this year, the Dewan Rakyat was told.

Deputy Domestic Trade and Consumer Affairs Minister Datuk Rosol Wahid said a total of 4,542 served notice to shut down their companies, while a total of 82,555 applied to register new businesses with the Companies Commission of Malaysia (SSM) under the Registration of Businesses Act 1956 between April 1 and July 19 this year.