SSM gives companies until Dec 31 to clear outstanding compounds at reduced rates

KUALA LUMPUR, October 9 — The Companies Commission of Malaysia (SSM) has extended the deadline for reducing penalties under the Companies Act 1965 and 2016 until December 31, 2026. This extension allows eligible companies to settle any outstanding penalties and ensure compliance with both Acts' requirements. Companies that have taken remedial action or met the necessary conditions are eligible for a lower penalty rate, according to SSM.

The reduced penalty rate applies to companies that have submitted outstanding documents, are winding up, have applied for name removal or are subject to removal, as well as those that have already been dissolved. For further inquiries, companies can contact SSM Customer Care (SSMCC) through the SSM Chatbot or SSM Live Chat on the official SSM portal, by calling 03-7721 4000, or emailing enquiry@ssm.com.my.