The Companies Commission of Malaysia (SSM) has extended the period for reduced compound rates under the Companies Act 1965 and Companies Act 2016 until Dec 31, 2026.
SSM said the extension is intended to give eligible companies more time to settle outstanding compounds and take the necessary remedial steps to comply with requirements under both laws.
Under the extension, companies that have taken corrective action or fulfilled the prescribed conditions may qualify for reduced compound rates.
The reduction applies to companies that have submitted outstanding documents, are undergoing winding-up proceedings, have applied to have their names struck off the register, are subject to striking-off action by the Registrar, or have already been dissolved.
SSM said the extension is aimed at encouraging companies to regularise their compliance position and resolve outstanding matters before the end of the year.
