What is WRT and why is it required?
A. WRT stands for Warehousing, Retail & Distributive Trade. The previous share capital requirement for this approval was RM350K. Because of abuse from the private companies using a RM350K company to “sell work permits to primarily Asian foreigners who are small time traders and many were caught selling carpets and watches on the streets, this minimum threshold has now been increased to RM500K for a company with local partners & RM1 million for 100% foreign owned equity. This new threshold is to ensure the authenticity of the new investor.
