Jakarta:The Companies Commission of Malaysia (SSM) has announced an extension of the compound reduction period under the Companies Act 1965 and the Companies Act 2016, now lasting until December 31, 2026.

According to BERNAMA News Agency, this move provides eligible companies with additional time to settle outstanding compounds while ensuring compliance with the legal requirements set by both acts.

The extension benefits companies that have taken remedial actions or met stipulated conditions, allowing them to qualify for a reduction in the compound rate. It applies to those that have lodged outstanding documents, are winding up, have applied for name striking-off, are subject to registrar-initiated striking-off actions, or have already been dissolved.

For further inquiries, companies are encouraged to contact SSM Customer Care through the SSM Chatbot, SSM Live Chat on the official SSM portal, by calling 03-7721 4000, or via email at [email protected].