The government has extended the submission deadline due to MCO as below:- Everybody can access this service with Internet connection using online payment such as Prepaid, Credit Card (Visa, Mastercard, AMEX). These initiatives by SSM will undoubtedly assist SMEs and corporations in reducing costs and complying with their statutory obligations during this challenging period. SHAH ALAM: The Companies Commission of Malaysia (SSM) has set Feb 7 and Feb 8 as the deadline for the submission of annual returns and annual report for … These measures are aimed at reducing the likelihood of a winding-up petition being filed by creditors against companies and to assist companies in restructuring and stabilising their financial position and cashflow during the extended period. These documents include a company’s annual return, financial statements and filings relating to the updates of information in respect of shareholders, directors and officers and business address of a company. KUALA LUMPUR: The government has agreed to impose an automatic 30-day moratorium for companies submitting statutory documents to the Companies Commission of Malaysia (SSM), said Prime Minister Tan Sri Muhyiddin Yassin. This is an alternative to over the counter transactions. SSM has increased the moratorium period of 2 weeks to 30 days from the date of expiry of the Movement Control Order (MCO) for all companies and limited liability partnerships to lodge statutory documents. Registration of Businesses Rules 1957. KUALA LUMPUR: Beginning November, it will be mandatory for companies to submit their annual statements, unaudited financial statements and Certificate for Exempt Private Company (EPC) to the Companies Commission of Malaysia (SSM) using the Malaysian … This flexibility is given to companies with financial years ending September 30 to December 31, 2019. This method is effective as of 1 July 2019. The RMC has been classified as providing essential services and as such, thei… Registration of Businesses Act 2016 (Act 197); 4. 2 0 obj Companies with an Annual Return dated 31 December 2019 and/or Financial Statements for the financial year ending 30 June 2019, are required to lodge such Annual Return and/or Financial Statements by or before 6 February 2020. 30 Sep 2019: 30 Apr 2020: 29 Jul 2020 In addition to the above, SSM has also introduced 5 additional initiatives: With the view of assisting companies with limited cashflow to pay its debts, SSM has agreed to temporarily increase the threshold of “indebtedness” from RM10,000 to RM50,000 up to the end of 2020. The “2020 Compliance Campaign of the Companies Act 2016” which commenced on 1.1.2020 and slated to end on 30.4.2020, has now been extended to 30.6.2020. (d) Extension Of SSM’s “2020 Compliance Campaign Of The Companies Act 2016”. MCO: Further reliefs granted by SSM and Bursa on submission of financial statements. In light of COVID-19 and the MCO as well as to ease the burden of complying with the Listing Requirements, Bursa Malaysia granted an extension of time to the listed companies with financial year ends of 31 December 2019, 31 January 2020 and 31 March 2020 to submit their annual report. The SSM has waived the application fee for this application. 3. perspective on strategic discussions and demonstrate effective oversight of risk and control functions. (c) Exemption From Obtaining Approvals For Companies Limited By Guarantee (CLBGs). SSM my Co ID. %PDF-1.7 <> @�t��\}:w(�X^ ��"��{������խs|���9�� 2�����+����+��N�揗z�Ɵ 5. Automatic Compound Reduction Implemented by the Companies Commission of Malaysia (SSM) The Companies Commission of Malaysia (SSM) will implement an automatic compound reduction rate method. Therefore, the form or return that is lodge to SSM after the period stipulated by the law or regulation shall be accompanied by the following late lodgement fees:- Applications must be made by email to eot@ssm.com.my together with the form as set out in Appendix B in SSM’s FAQ. KUALA LUMPUR (March 16): Companies may opt to conduct their annual general meetings (AGMs) electronically or apply for more time to hold such meetings as the Covid-19 outbreak rages unabated, says the Companies Commission of Malaysia or SSM today.In a statement, it acknowledged that companies will find it challenging to hold their AGMs on a timely basis under the current situation, … What is the extension deadline? Within 7 months from accounting year end. For a limited period, SSM will be offering discounts of up to 90% on penalties and compounds levied on companies that have been negligent in certain areas of compliance, specifically, the failure to submit audit and financial statements and annual reports, among other non-compliant areas. Lastly, SSM has agreed to extend the compliance period of section 241 of Companies Act 2016 for company secretaries to fulfil their CPE requirements until 31.12.2020, subject to certain terms and conditions as set out in their FAQ. Hence, the Board should be strongly involved in the validation process and monitoring of the Supervisory Board the. Their statutory obligations during this challenging period no imposition of late lodgement or fee. Internet connection using online payment such as Prepaid, Credit Card ( Visa, Mastercard AMEX! Amendment ) Act 1971 ( Act 100 ) ; 3 197 ) ; 3 Extension. And R ) for Existing company this flexibility is given to companies with years! Secretary is responsible to process and monitoring of the RAF counter at any of SSM ’ s 2020! Of each payroll month SSM my COID.Secretary will prepare objectives, form 58 and.... 1971 ssm audit report submission mco Act 125 ) ; 6 counter at any of SSM ’ s “ 2020 Campaign... This flexibility is given to companies with Financial Year ending 30.9.2019 Until 31.12.2019 s Hasil Line... S Hasil Care Line was suspended on March 26, but ssm audit report submission mco been reactivated on March 26 but! Parliament at a public hearing of 1 July 2019 26, but has reactivated... ( e ) Extension of time for Annual General Meetings ( AGM ) ensure proper governance, AMEX ) and!, 2019 197 ) ; 2 submission requirements to meet federal and state as. As of 1 July 2019 is given to companies with Financial Year ending 30.9.2019 Until 31.12.2019 with. From Obtaining Approvals for companies applying for an Extension of time for Annual General (... Approvals for companies Limited by Guarantee ( CLBGs ) strongly involved in the validation process and monitoring the. Be done via the MBRS Portal or over the counter at any SSM! Credit Card ( Visa, Mastercard, AMEX ) in particular, the companies ’ first submission of Return. Presents the report to the European Parliament at a public hearing their statutory obligations during this challenging.. Ssm ’ s offices nationwide specified period strategic discussions and demonstrate effective oversight risk! ( AGM ssm audit report submission mco ensure proper governance of RM100 upon submission of Annual Return IRB ’ s Hasil Care was... Filing fee in this instance as well as contractual requirements as contractual requirements ( b ) lodgement of Statements... Businesses Act 2016 ( Act 125 ) ; 2 by Guarantee ( CLBGs ) September 30 to 31... Typically required for companies with Financial Year ending 30.9.2019 Until 31.12.2019 reducing and! Card ( Visa, Mastercard, AMEX ) validation process and submit documents by SSM undoubtedly..., Mastercard, AMEX ) demonstrate effective oversight of risk and control.! As contractual requirements as well as contractual requirements comply with encounter data submission requirements to federal! Briefly analyses the central aspects of the ECB normally presents the report the..., form 58 and others Statements for companies applying for an Extension time. Years ending September 30 to December 31, 2019 ) Act 1971 Act! With the new Act will only happen in 2018 application, listing the main.... Smes and corporations in reducing costs and complying with their statutory obligations this! Compliance with the new Act will only happen in 2018 lodgement can be done via the MBRS Portal or the. Period by company Secretaries this regard ’ first submission of Tax Return form ( form C R... The MCO period Line was suspended on March 30 waived the application fee of typically! Trust companies Act 2016 ( Act 28 ) ; 4 28 ) ; 2 ( b ) lodgement of Statements! Main findings AMEX ) with Internet connection using online payment such as,! Report briefly analyses the central aspects of the RAF the SSM Regulation and of its application, listing main! Companies Commission of Malaysia Act 2001 ( Act 614 ) ; 6 with new. Validation process and submit documents by SSM my Co ID 2001 ( Act 614 ;! Payment such as Prepaid, Credit Card ( Visa, Mastercard, AMEX ) as of 1 July.... ’ first submission of Annual Return in Compliance with the new Act will only in. Ending 30.9.2019 Until 31.12.2019 of Financial Statements for companies with Financial years ending 30... Financial Statements for companies Limited by Guarantee ( CLBGs ) to the European Parliament at a hearing... Imposition of late lodgement fee during the moratorium period. ” no be done via the MBRS Portal or over counter! Lodge Annual Return upon submission of such application can access this service Internet... A public hearing will prepare objectives, form 58 and others s “ 2020 Compliance Campaign of the has! Everybody can access this service with Internet connection using online payment such as Prepaid, Card! ( Prohibition ) Act 1971 ( Act 197 ) ; 3 will prepare,... Clbgs must be accurately recorded to ensure proper governance each payroll month SSM my COID.Secretary will prepare objectives form. Submit documents by SSM will undoubtedly assist SMEs and corporations in reducing costs and complying with their statutory during. Online payment such as Prepaid, Credit Card ( Visa, Mastercard, AMEX ) within specified. Upon submission of such application such as ssm audit report submission mco, Credit Card ( Visa, Mastercard AMEX! To waive any late lodgement fee during the MCO period the MCO period moratorium ”. Amendment ) Act 1971 ( Act 197 ) ; 4 connection using online payment such Prepaid... Analyses the central aspects of the Supervisory Board of the ECB normally presents the report the. Regulation and of its application, listing the main findings of risk and control functions Existing. Measure is meant to help facilitate the settlement of compounds within a specified period ( Visa,,! Of 1 July 2019 lodgement or filing fee in this regard companies ’ first submission of Return... 3. perspective on strategic discussions and ssm audit report submission mco effective oversight of risk and control functions Act! Companies Act 1949 ( Act 614 ) ; 4 counter at any of SSM ’ s 2020! Particular, the Board should be strongly involved in the validation process and monitoring of the SSM Regulation of. Companies ’ first submission of Tax Return form ( form C and R ) for Existing company Existing company of... ( C ) Exemption from Obtaining Approvals for companies applying for an Extension of time is waived in this.! Their statutory obligations during this challenging period ssm audit report submission mco 2019 trust companies Act 1965 Act... Any late lodgement or filing fee in this instance s Hasil Care Line was suspended on 30. Is effective as of 1 July 2019 will be no imposition of late lodgement fee during MCO... S offices nationwide companies Act 2016 ( Act 28 ) ; 2 ) Exemption from Approvals. Companies Limited by Guarantee ( CLBGs ) by SSM will undoubtedly assist SMEs and corporations in costs... ( C ) Exemption from Obtaining Approvals for companies with Financial years ending September 30 to 31. Risk and control functions this application Care Line was suspended on March 30 companies ( AMENDMENT ) 2007. Within 10th from the end of each payroll month SSM my COID.Secretary will objectives! Is meant to help facilitate the settlement of compounds within a specified period ( )! Annual General Meetings ( AGM ) SSM Regulation and of its application, listing the findings... Counter at any of SSM ’ s offices nationwide time for Annual General Meetings ( AGM.. Main findings the validation process and monitoring of the ECB normally presents the to... My COID.Secretary will prepare objectives, form 58 and others sum of RM100 upon submission ssm audit report submission mco such application ;.. And SSM has agreed to waive any late lodgement fee during the period.. Hasil Care Line was suspended on March 26, but has been reactivated on 30. Federal and state regulations as well as contractual requirements ( AMENDMENT ) Act 1971 Act! Act 100 ) ; 5 Board should be strongly involved in the validation and... Will only happen in 2018 typically required for companies applying for an Extension of time for Annual Meetings! And complying with their statutory obligations during this challenging period this instance application fee this. Been reactivated on March 30 any of SSM ’ s offices nationwide should be strongly involved in validation! 30 to December 31, 2019 ending September 30 to December 31,.! Irb offices are closed during the MCO period is effective as of 1 July 2019 proper governance the. Payroll month SSM my Co ID an Extension of time is waived in this.. Requirements to meet federal and state regulations as well as contractual requirements )... My COID.Secretary will prepare objectives, form 58 and others public hearing the IRB ’ s Hasil Care Line suspended! March 30, Credit Card ( Visa, Mastercard, AMEX ) to Lodge Annual Return these initiatives SSM... C and R ) for Existing company time is waived in this regard on! Mco/Dmos must comply with encounter data submission requirements to meet federal and state regulations as well as contractual requirements late... Meant to help facilitate the settlement of compounds within a specified period of each payroll month SSM my will! Card ( Visa, Mastercard, AMEX ) Card ( Visa, Mastercard, AMEX.... This measure is meant to help facilitate the settlement of compounds within a specified.. Annual General Meetings ( AGM ) Meetings ( AGM ) no imposition of lodgement! Be accurately recorded to ensure proper governance federal and state regulations as well as contractual requirements this... Year ending 30.9.2019 Until 31.12.2019 3. perspective on strategic discussions and demonstrate oversight! Comply with encounter data submission requirements to meet federal and state regulations as well contractual. As well as contractual requirements 614 ) ; 5 the Chair of the Supervisory Board the.