Establish an Energy Company in Malaysia
Updated on Monday 23rd January 2023
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The energy industry is a vital sector of any modern country. The activities carried out in this field are strongly regulated by the policies imposed by each government. However, due to the latest technological discoveries and also on the current situation of the climate, more and more governments are investing in green energy resources and this field is also increasing in Malaysia. Investors who want to open a company in Malaysia in the field of energy will need to follow specific steps. Our team of specialists in company formation in Malaysia can assist investors on various legal matters related to the energy sector.
Energy regulations in Malaysia
Energy in Malaysia is highly regulated by the governmental policies referring to its production, distribution or consumption and the main regulator in this field is the Department of Electricity and Gas Supply.
Other representative entities included in the energy field are:
• energy supply companies;
• services companies;
• research and development companies.
The main resources used to provide energy services are based on fossil fuel, which refers to various types of resources which are extracted from the soil. In current times, government is trying to impose new regulations promoting the usage of green energy, which should be a more cost-efficient solution on a long-term basis and that will not harm the environment.
The energy sector in Malaysia is regulated by a few rules, such as:
• Petroleum Development Act;
• Electricity Supply Act;
• Electricity Regulations.
The Electricity Supply Act offers a comprehensive image of the industry, which must provide its services at reasonable prices to its end consumers. At the same time, it prescribes the technical requirements that must be met by an energy installation. Our team of company incorporation representatives in Malaysia can provide more details on this matter.
You can ask about CPA in Malaysia and more precisely you can benefit from the support of our accountants for bookkeeping, tax registration, debt monitoring, audits, payroll, and tax minimization options. Our recommendation is to contact our specialists early when you open a company in this country. It is much more advisable to outsource this type of service because the costs are advantageous, and the efficient services are offered by our specialists with experience in the field.
Green energy in Malaysia
Those interested in opening a company in Malaysia in this field can also opt for a green energy business. Companies operating in this sector must respect the regulations of the Renewable Energy Act 2011. Part IX of the Act prescribes the ways in which licenses are issued or renewed, in accordance with the type of green installation used.
Businessmen are invited to contact our team of company formation agents in Malaysia for more details on how to establish an energy company.