17 DECEMBER 2010 - BERNAMA
KUALA LUMPUR, Dec 16 (Bernama) -- The Domestic Trade, Cooperatives and Consumerism Ministry plans to amend the Franchise Act 1998 early next year, Minister Datuk Seri Ismail Sabri Yaakob said.
Ismail Sabri said the amendment was necessary because the ministry could not not get a clear picture of the earnings of the franchisees as most of them were not registered with the ministry.
"The amendment will ensure that other than the franchisors, the franchisees will also register with the ministry to enable us to get a detailed picture regarding their earnings," he said.
He told this at a media briefing after presenting franchise licences to 35 companies and witnessing the ceremony to sign memorandum of understanding (MOU) between the Cooperatives Commission of Malaysia and Pakar Dialysis Traktif Sdn Bhd here Thursday.
Ismail Sabri said the 330 franchisors recorded earnings of RM10.2 billion from 2006 to 2008 but the ministry has not received a clear picture of the earnings from the franchisees.
"If we add the 6,083 franchises which had been established, I think the earnings will be doubled," he said. |
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