Malaysian business licence·State
Approval from State Authority to Charge Land with Interest Restrictions (ASAC)
Issued by Pejabat Pengarah Tanah dan Galian Negeri Pulau PinangNational Land Code under Sections 103 to 108; Penang Land Rules 1965 Amendment 2013
Overview
This license is required for land with interest restrictions in Malaysia. It must be applied for through the State Land and Mines Office in Penang. The approval allows the land to be charged or mortgaged under specific conditions.
Key details
Governing Act
National Land Code under Sections 103 to 108; Penang Land Rules 1965 Amendment 2013
Agency fees
Minimum RM 100 processing + varies by land category
Validity
Annual renewal typical
Issuing authority
Pejabat Pengarah Tanah dan Galian Negeri Pulau Pinang
Fees shown are government / local-authority fees payable to the issuing agency. Emerhub charges a separate service fee for handling the application end-to-end.
Eligible applicants
Individuals, businesses, companies, limited liability partnerships, professional bodies, cooperatives, others
Application requirements
- Two (2) copies of Form PMC1 (Residential/Business/Agricultural) or Form PMC2 (Industrial)
- Latest private ownership search and previous ownership search for ownership with a 10-year restriction
- Latest Land Tax receipt
- Copy of New Identity Card/Passport for seller and buyer (for individual applicants)
- Copy of New Identity Card of company director, company resolution, and SSM search for seller and buyer (for company applicants)
- Offer letter from the bank (refer to Bank Negara Malaysia's exchange rate on the date of the bank's offer if not in Malaysian Ringgit).
- * Please include a copy of the original Sale and Purchase Agreement and Blanket Consent if the ownership is still in the developer's name.
- ** All copies must be certified true copies (CTC).
Agency fee breakdown
New Application/Renewal
Fees are as follows:
1. Minimum RM100.00 @ 0.1% of the collateral value (rounded to the nearest ringgit for residential land).
2. Minimum RM200.00 @ 0.1% of the collateral value (rounded to the nearest ringgit for commercial land).
3. Minimum RM300.00 @ 0.1% of the collateral value (rounded to the nearest ringgit for industrial land).
*Validity is until the transfer/mortgage/lease/rental is completed.
These are amounts payable to Pejabat Pengarah Tanah dan Galian Negeri Pulau Pinang. Emerhub's service fee is quoted separately when you engage us.