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SSM Interest Scheme

WHAT IS INTEREST SCHEME

Interest Scheme is a way of doing business in Malaysia. Interest Scheme involves the pooling of a financial contribution from the public in exchange for an interest in a particular scheme.

The main function of Interest Scheme Section is to register scheme which falls under section 84 of the Companies Act 1965 and to ensure that the operator of an interest scheme is also required to comply with the provisions of Division 5 of Part IV of the Companies Act 1965, Policy Guidelines and Requirements issued by SSM from time to time.

"Interest" is defined under section 84 of the Companies Act 1965 as:

 A right to participate or interest illegal steroids in any: 

  • Profit, assets or realization of a business:
  • Common enterprise with expectation of profits, rent or interest:
  • Time sharing scheme; and
  • Investment contract.
  • Prospectus approved by SSM provides public information on the Scheme.

How to identify an Interest Scheme?

  • Investor will be required to make payment to participate in the scheme
  • Investor are not a shareholder of the company
  • Investor are not involved in the day-to-day management of the scheme
  • Investor have interest in the business or the scheme offered

AND any one of the following criteria:

  • Investor have interest in the profit, asset and realization of a business or a scheme in Malaysia or elsewhere
  • Investor are promised that you will procure returns from the payment you made
  • Investor acquire the rights/interest in a property which includes the right to use the facilities on the property for a period of more than 12 months
  • Investor have the right to occupy any property for 2 or more times during the tenure of the time-sharing scheme

 

Source: Suruhanjaya Syarikat Malaysia (www.ssm.com.my)

 
 
 
 

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