The Credit Reporting Agencies Act 2010 and the subsidiary legislation made thereunder, inter alia, provides for the registration and regulation of credit reporting agencies.
 
Section 20 of the said Act stipulates that the minimum amount of paid-up share capital of a credit reporting agency shall be RM1.0 million or such other amount of as may be prescribed by the Minister of Finance on the recommendation of the Registrar of Credit Reporting Agencies from time to time.
 
Pursuant to the Credit Reporting Agencies (Minimum Amount of Paid-Up Capital) Order 2026¹ (“Order”) that came into effect on 1 March 2026, the Minister of Finance II has prescribed that the minimum amount of paid-up share capital of a credit reporting agency shall be RM5.0 million. The Order also requires any credit reporting agency whose paid-up share capital is less than RM5.0 million before the coming into effect of the Order, to maintain and increase its paid-up capital to RM5.0 million no later than 1 January 2029.
 
Further, in consequence of the gazetting of the Order, the First Schedule to the Credit Reporting Agencies (Registration) Regulations 2014² has been amended by the Credit Reporting Agencies (Registration) (Amendment) Regulations 2026³ by replacing the reference in paragraph (f) of item A (documents to be submitted with application for registration) and in paragraph (e) of item B (documents to be submitted with application for renewal of registration) to any document verifying the minimum paid-up capital of the applicant is RM1.0 million with “any document that verifies the minimum amount of paid-up capital of the applicant.”
 
 
Alert by Lee Ai Hsian (Partner) of the Corporate Practice of Skrine.
 
 

---