Quick answer
The Companies Act 2016 has no dedicated section for changing a company's nature of business. A company's business activities are recorded by SSM using MSIC codes and declared in each annual return (s.68); they are updated through SSM's system, with a directors' resolution, and — where the constitution restricts the company's objects — an amendment to the constitution first.
Last reviewed： · Reviewed by：ONEKEY BIZ compliance team
01
Overview
SSM records what each company does using MSIC codes — the Malaysia Standard Industrial Classification. The codes chosen at incorporation often become outdated: a trading company starts manufacturing, a consultancy starts construction work, or a new line of business is added.
There is no single section in the Companies Act 2016 that governs this change. The business activities form part of the particulars declared in the annual return under Section 68, and the update itself is made through SSM's system supported by a directors' resolution. If the company has a constitution that limits its objects, that constitution must be amended first by special resolution.
The codes matter more than they look. Banks check them during account opening and KYC reviews, CIDB and other licensing bodies compare them against the licence applied for, LHDN uses them for e-invoicing, and tenders reject companies whose registered activity does not cover the work. Aligning them before an application is far easier than explaining a mismatch afterwards.
Who needs this
- Companies adding a new business line
- Companies applying for CIDB, WRT or other licences that must match registered activity
- Companies whose bank flagged an activity mismatch
- Companies registered with generic or wrong codes at incorporation
02
Documents you need to prepare
Business activities
- Description of the business the company actually carries on or plans to
- Current MSIC codes on the SSM profile
- Licences held or planned (to align codes)
Company
- Directors' resolution approving the change (we draft it)
- Constitution, if any (checked for object restrictions)
- Choosing codes that match your licences avoids a second change later.
- Update your bank and e-invoice profile after SSM records the new codes.
03
How to get it done with ONEKEY BIZ
- 1Activity mapping Day 1
We translate your real business into the correct MSIC codes.
- 2Constitution check Day 1
We confirm whether any object clause must be amended first.
- 3Resolution Day 1–2
We draft the directors' resolution.
- 4SSM update Day 2–4
We submit the change of business activities to SSM.
- 5Downstream updates Done
You receive a list of banks, licences and systems to align.
You do
- Describe what the company really does
- Sign the resolution
We do
- Select the correct MSIC codes
- Check the constitution
- Submit the change to SSM
- List every record that must match
04
What you receive
Showing the new business activities and MSIC codes.
Approval of the change.
Which codes were chosen and why, linked to your licences.
Bank, LHDN e-invoice, licences and tenders to update.
Official sources
Frequently asked questions
Is there a limit on how many MSIC codes a company can have?
SSM limits the number that can be recorded; we prioritise the codes your licences and bank need.
Do we need to change the constitution?
Only if it restricts the company's objects. Many companies have no such restriction.
Will this affect our existing licences?
It should align with them. If a licence depends on a specific activity, we check it before changing codes.