SSIC 464 - WHOLESALE OF HOUSEHOLD GOODS

The SSIC 464 classification pertains to wholesale of household goods. This official code is mandatory when registering a business entity with ACRA (Accounting and Corporate Regulatory Authority) in Singapore.

Key Characteristics:

Compliance with the Companies Act, particularly regarding record-keeping of inventory and sales transactions (Section 173).
Common business structures include Private Limited Companies (Pte Ltd) due to limited liability and potential for scalability in distribution networks.
Frequent regulatory requirements involve compliance with the Consumer Protection (Fair Trading) Act (CPFTA) regarding product warranties and accurate product descriptions.

Common Business Operations

Wholesale of household goods and appliances (including furniture, electrical appliances, sanitary ware, and kitchenware) is classified under SSIC 464, encompassing the distribution of these items to retailers or other wholesalers, but excluding direct sales to end consumers.

Importing and distributing electrical appliances from overseas manufacturers to local retailers, adhering to SPRING Singapore's (now Enterprise Singapore) safety standards.

Wholesaling furniture to furniture stores located in industrial areas like Sungei Kadut or Ubi, as indicated in ACRA's business profile search examples.

Managing a warehouse and logistics network for distributing sanitary ware to plumbing supply stores, often requiring compliance with SCDF fire safety regulations for storage facilities.

SSIC 464 WHOLESALE OF HOUSEHOLD GOODS

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Understanding SSIC 464

Key Characteristics:

Common Business Operations