The Companies Commission of Malaysia (SSM) has unveiled new initiatives aimed at strengthening the nation’s business ecosystem and enhancing corporate compliance standards.
1. Launch of SSM’s e-advertisement service under Section 76A of the Limited Liability Partnership (LLP) (Amendment) Act 2024
This platform enables LLPs that wish to voluntarily wind up their operations to publish statutory notices via SSM’s e-advertisement service for a fee of RM500. This service provides an alternative to the traditional method of publishing statutory information through print media. By offering a more cost-effective and accessible digital platform, it not only lowers operational costs for businesses but also addresses the limitations of physical newspaper distribution, which may not reach all regions across the country.
2. Compound reduction of up to 95% for eligible LLPs
This is specifically for voluntary winding-up applications under Section 50 of the LLP Act 2012, Offering to LLPs that are no longer in operation and have been compounded for non-compliance. This offer is applicable for voluntary winding-up applications submitted on or before 30 September 2025.
3. 90% reduction in compound fines for common offences under the Companies Act 2016 and the LLP Act 2012
This offer is also available until 30 September 2025.
4. 95% reduction in compound fines is offered to eligible companies applying for name deletion under Section 550 of the Companies Act 2016
Companies that have ceased operations or no longer intend to conduct business – and have been penalised for non-compliance such as failure to lodge annual returns, financial statements, or other statutory documents – are encouraged to come forward voluntarily to apply for removal from the SSM register. This incentive is also valid until 30 September 2025.