SSM, MOF, DOSM And CIDB Ink MoU To Strengthen Accuracy In Business Code Usage

KUALA LUMPUR, Feb 24 (Bernama) -- The Companies Commission of Malaysia (SSM) today inked a memorandum of understanding (MoU) with the Ministry of Finance (MOF), Department of Statistics Malaysia (DOSM) and the Construction Industry Development Board (CIDB) to strengthen the accuracy in the usage of business codes via the SSM BizCodEX portal.

In a statement today, SSM said the collaboration enables the agencies to share expertise and undertake collective initiatives to raise the accuracy of business codes on the portal.

SSM BizCodEX is a business code search system designed to help the public identify suitable business codes based on registered business activities.

“This initiative will contribute to the standardisation of business data, ensuring more accurate and trusted information within the country’s business ecosystem,” the SSM said.

Its chairman Ahmad Sabki Yusof, who witnessed the MoU signing, said the SSM BizCodEX portal will strengthen the commission’s role as the nation’s main corporate data supplier by providing matching codes which are systematic, standardised and efficient.

“The portal also will enhance the transparency and efficiency in government procurements, registration of construction skills, and provision of comprehensive and credible data analyses,” he said.

The SSM BizCodEX portal went live on Nov 11, 2024. To date, 1,463 Malaysia Standard Industrial Classification (MSIC) codes have been matched successfully with 432 MOF supplies and services codes while 183 MSIC codes have been matched with 133 CIDB specialisation codes.

The MoU was signed by SSM chief executive officer Datuk Nor Azimah Abdul Aziz, MOF government procurement division under secretary Datuk Indera Ab Rahim Ab Rahman, DOSM deputy chief statistician (social and technical development) Nazaria Baharudin, and CIDB chief executive officer Zainora Zainal.

-- BERNAMA