Malaysia A Step Closer to Become Franchise Hub for South-East Asia

KUALA LUMPUR, May 29 (Bernama) -- Malaysia is a step closer to become the franchise hub for South-East Asia by 2020 with the launch of the online franchise registration system, Malaysian Franchise Express (MyFEX). The MyFEX, which was launched by Domestic Trade, Cooperatives and Consumerism Minister, Ismail Sabri Yaakob on Tuesday, was developed to improve the present manual system to register the businesses. At a press conference after the launch of the system, Ismail Sabri said the first phase of the system would have four applications -- e-Registration, e-Status, e-Checking and e-Payment. He said applications via MyFEX could be done at any time, whereas if they were to be done manually, they had to done during office hours. The second phase of the project, which was expected to be ready by the middle of next year, would include applications like e-Complaint, e-Programme and e-Report, he said. Ismail Sabri said to encourage the use of MyFEX, the fees would be lower for online application compared to those done manually. He, however, said the fees had not been decided yet. The present processing fee -- manual and via the phones -- is RM50 (US$15.86). The registration fee is RM1,000 (US$317.28), except for applications under Sections 54 and 11 of the Francise Act, 1998. Ismail Sabri said under the MyFex system, the government would bear the administrative charge of 50 sen (US$0.16) for every transaction via e-FPX (Financial Process Exchange), or 1.8 per cent for payment via credit cards (Visa and MasterCard). He said MyFEX would require only the submission of four forms compared with the present 14 under the manual system. Earlier, at the launch of the system, Ismail Sabri said under the National Franchise Development Master Plan, the country aimed to have 860 franchisors by 2016 and 1,140 by 2020. He said as at May 21, 2012, a total of 611 franchise systems in various sectors were registered in the country. Out of the total, he said, 419 were local franchises while 192 foreign franchises. The franchise system has established 5,455 franchisee businesses, he said. -- BERNAMA