SSM Extends Compound Reduction Period Until Dec 31

KUALA LUMPUR, Oct 9 (Bernama) -- The Companies Commission of Malaysia (SSM) has extended the period for compound reduction under the Companies Act 1965 and the Companies Act 2016 until Dec 31, 2026. 

In a statement, SSM said this extension gives eligible companies an opportunity to settle outstanding compounds and take appropriate measures to ensure compliance with the requirements under both acts. 

Under this extension, companies that have taken remedial action or met the stipulated conditions are eligible for a reduction in the compound rate, the commission said.

SSM said the reduction in the compound rate applies to companies that have lodged outstanding documents, are in the process of winding up, have applied for the striking-off of their names or are subject to striking-off action by the registrar, as well as companies that have already been dissolved. 

For further enquiries, please get in touch with SSM Customer Care (SSMCC), specifically the complaints and feedback section, via the SSM Chatbot or SSM Live Chat (accessible through the official SSM portal), by calling 03-7721 4000, or by emailing enquiry@ssm.com.my. 

-- BERNAMA