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Stakeholders gain insight on construction business

A STAKEHOLDERS engagement session on starting a construction business took place yesterday at the Theatre Hall of the Ministry of Finance (MoF) building.

Hosted by the Registry of Companies and Business Names (ROCBN) Division, MoF in collaboration with the Authority for Building Control and Construction Industry (ABCi), Ministry of Development and the Labour Department and Immigration and National Registration Department (INRD), Ministry of Home Affairs (MoHA), the presentations were delivered by Saiful Adilin bin Haji Edin, Assistant Registrar, ROCBN and Eliazar bin Sabtu, Special Duties Officer Grade I, ABCi.

Following the presentations, a discussion session took place, where the two speakers joined a panel that also included Hajah Norajimah binti Haji Aji, Assistant Commissioner of Labour and Pengiran Noor Azimahwati, Senior Chief Immigration Officer.

The session was held as part of a socialisation programme on ease of doing business and aims to establish a sharing platform on starting a business, particularly in the construction sector whereby information is readily available online through the official websites and social media channels of the MoF, DARe (Darussalam Enterprise) and ABCi.

According to information from the organisers, registry statistics have shown that the construction industry is among the top industries that have the highest number in new company incorporations.

The construction sector continues to keep developing and growing at an impressive rate while attracting potential investors.

Yesterday’s session provided some insights into the type of business entity suitable for different construction activities.

Using ROCBN’s online system, incorporating a company is now simpler, faster and cheaper.

Documents required to be submitted have now been streamlined and can simply be uploaded into the system and after payment of a single flat fee, companies can now be incorporated within one day.

Company incorporation is only one part of starting a construction company; businesses are still required to obtain licences from ABCi.

Therefore, ABCi provided insights into the prerequisites of obtaining the different licences and the criteria for the different types of construction activities.

As the construction industry tends to employ foreign workers, the Department of Labour Department and INRD were also on hand to clarify the conditions and requirements that a construction company must meet to hire work permit holders.

The ROCBN also touched on the responsibilities of a company such as maintaining a corporate register and the roles and responsibilities of directors of private limited company.

Courtesy of: Borneo Bulletin, Friday,