Announced on 15 April 2025. Valid until 30 September 2025
In conjunction with this milestone, the Companies Commission of Malaysia (SSM) has introduced four (4) initiatives to ease regulatory compliance and financial pressure on businesses. These efforts, initiated and supported by the Ministry of Domestic Trade and Cost of Living (KPDN) under the leadership of YB Datuk Armizan Mohd Ali, are designed to build a more efficient and accessible corporate environment, particularly for micro, small, and medium enterprises (MSMEs).
Whether you are a business owner looking to close a dormant company (Sdn. Bhd.) or seeking relief from past non-compliances, these measures are timely and worth noting.
1. e-Advertisement Platform for PLTs
SSM has introduced a new digital advertising platform specifically for Limited Liability Partnerships (PLTs) undergoing voluntary dissolution. Previously, PLTs were required to publish their dissolution notice in national newspapers, often incurring costs ranging between RM1,000 to RM2,000.
Now, with the amendment to Section 76A of the Limited Liability Partnerships Act (Amendment) 2024, PLTs can publish their notices directly on SSM’s official e-Advertisement platform for just RM500.
Key highlights:
- Notice can be published in Bahasa Melayu, English, or both
- It will be displayed for 7 days on the SSM portal
- Ensures broader visibility and accessibility
This initiative is designed to reduce costs and simplify the process for businesses that wish to dissolve their PLTs without the logistical challenges of traditional print media.
To begin the voluntary dissolution process, PLTs must first ensure they have ceased all business operations and settled any outstanding liabilities. A notice of intention to dissolve must then be published through the SSM e-Advertisement platform, followed by submission of the relevant documents via MyLLP.
For full procedural guidance and updates, business owners are encouraged to refer to SSM’s official portal at www.ssm.com.my. Alternatively, you may consult a licensed company secretary or contact us directly to learn more.
2. 95% Compound Reduction for PLTs Seeking Voluntary Dissolution
For PLTs no longer in operation, SSM is offering a 95% reduction on compound fines, with the e-Advertisement fee capped at RM100.
This initiative applies to PLTs that:
- Are no longer conducting business
- Have been penalised for non-compliance such as failure to submit annual declarations
- Submit their application for voluntary dissolution under Section 50 of the PLT Act 2012.
The basic process includes ceasing business operations, settling all liabilities, and ensuring there are no outstanding tax or regulatory filings. Once these steps are fulfilled, the PLT must publish a notice of intention to dissolve via SSM’s e-Advertisement platform, and submit the required documents through the MyLLP portal. It is highly recommended to consult a licensed company secretary to guide you through this process and ensure full compliance with SSM’s requirements.
Deadline: Applications must be submitted on or before 30 September 2025 to enjoy this benefit.
This is a welcomed move for business owners looking to close their PLTs without bearing the full brunt of past penalties.
3. 90% Compound Discount for Common Offences
SSM is also extending a 90% compound reduction for common statutory offences under the Companies Act 1965, Companies Act 2016, and PLT Act 2012.
This initiative is intended to encourage companies and PLTs to regularise their status without being burdened by high compound rates for past mistakes.
What does this cover? Offences typically include failure to lodge Annual Returns, Financial Statements, or other statutory documents within the stipulated deadlines.
How do I apply?
- Identify outstanding compounds issued by SSM for non-compliance.
- Prepare and organise the necessary filings or rectification documents.
- Submit your application to SSM via the MyCoID or MyLLP platform depending on your business entity.
- Settle the reduced compound fee as indicated by SSM.
If you’re unsure where to start or whether your company qualifies, we can help check your status and guide you on the required steps to resolve any outstanding issues.
Deadline: Valid for applications submitted before or by 30 September 2025.
4. 95% Compound Reduction for Companies Applying to Strike Off
This initiative is especially significant for Sdn. Bhd. companies that are dormant, inactive, or no longer in operation. SSM is offering a 95% reduction on compound fines for companies that voluntarily apply to be struck off from the register under Section 550 of the Companies Act 2016. Now, this does not happen all the time, so take this opportunity to settle everything while the window is still open!
Eligibility:
- The company is no longer carrying on business
- Has been penalised for non-compliance, such as failure to lodge Annual Returns or Financial Statements
- Submits the striking off application before or by 30 September 2025
This provides a timely opportunity for business owners to settle long-standing compliance issues and close inactive companies affordably and lawfully.
How to Apply for Strike Off (Sdn. Bhd.):
The strike-off process under Section 550 involves several key steps:
- Ensure the company has ceased all business operations.
- Settle all outstanding liabilities, including taxes and statutory payments.
- Prepare a directors’ resolution to apply for strike off.
- Notify all relevant stakeholders, including employees, creditors, and regulators.
- Submit the completed application form and supporting documents to SSM.
While it is possible to apply on your own, engaging a licensed company secretary ensures that every document is prepared in accordance with current SSM requirements, and that the process is handled professionally, reducing the chance of rejection or delay.
Why These Initiatives Matter
Whether you are operating a PLT or a private limited company, these initiatives reflect SSM’s commitment to reducing compliance costs and supporting businesses in difficult times. They not only promote good governance and transparency but also offer a practical way forward for entities seeking to clean up their corporate obligations.
As a licensed company secretary, we are committed to promoting good governance and simplifying compliance for business owners. While this article is meant for general awareness only, we believe in making these processes more accessible. If you need someone to guide you through the practical steps, we are here to help, professionally, ethically, and in line with all applicable guidelines:
- Eligibility reviews
- Preparation of necessary resolutions and documents
- Submissions to SSM for striking off or voluntary dissolution (if necessary).
If your company (Sdn Bhd) or PLT qualifies, this may be the best time to act. These offers are only valid until 30 September 2025.