The Investment Promotion Authority has clarified that businesses are still able to register online and its old system is available to confirm data before any changes or updates to entities.
IPA Managing Director, Clarence Hoot was refuting to claims in the media recently regarding its online registry service being unavailable.
“We are not just updating the same system but we are developing a totally new system, hence all data being migrated are being done with appropriate procedures by both the old and new software developers,” Mr Hoot said.
“We are fully aware of our mandated responsibilities and obviously we cannot just let a statutory function hanging without allowing services to flow.”
The IPA is calling on the public to consult the website and to read more about the transitional updates of the new online registry services.
Mr Hoot also said that while key users of the online registry service such as banks, corporate bodies and SMEs have embraced the change, there are few people badmouthing the IPA, and this is mainly because they do not attempt to actually have a feel of the new system.
Since the new registry went live on December 1st 2022, businesses have been called upon to re-register in the new system. This is done free of charge and entities have until the 1st of December 2023 to re-register.