Company fines received a 90% reduction from SSM!
Up to 90% Penalty Reduction Available
- SSM has introduced 3 penalty reduction initiatives, offering up to 90% reduction on eligible compounds
- The program covers compounds issued under the Companies Act 1965, Companies Act 2016, and Limited Liability Partnerships Act 2012
Who Is Eligible?
- Sdn Bhd，Berhad and LLP entities are eligible for this reduction
- Outstanding compounds must be settled by 30 September 2025
Scope of Reduction and Exemption：
- Offences Covered Under the Companies Act 2016：
- Failure to submit Annual Return on time
- Failure to submit Audit Report on time
- Failure to hold an Annual General Meeting (AGM) as required
- Offences Covered Under the Companies Act 1965
- Failure to hold an AGM
- Failure to submit an Annual Return on time
- Offences Covered for LLPs
- Failure to submit the Annual Declaration on time
- Failure to submit the first Annual Declaration
Summary
- SSM is offering up to 90% reduction on eligible penalties
- The program covers common compliance offences committed by companies and LLPs
- Eligible entities should settle their compounds before 30 September 2025 to enjoy the reduction benefit