SSM Introduces four initiatives to strengthen business ecosystem
The Ministry of Domestic Trade and Cost of Living (KPDN), through the Companies Commission of Malaysia (SSM), has launched four new initiatives to strengthen the national business ecosystem and elevate corporate compliance standards.
To commemorate SSM’s 23rd anniversary this year, a series of initiatives have been introduced to support the business community, with a special focus on easing the burden for micro, small, and medium enterprises (MSMEs).
- First initiative – The 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.
- Second initiative – Compound reduction of up to 95% of the original value, along with a reduction in the e-advertisement fee to RM100 for eligible LLPs. This offer is applicable for voluntary winding-up applications submitted on or before 30 September 2025.
- Third initiative – 90% reduction in compound fines for common offences under the Companies Act 1965 or 2016, as well as the LLP Act 2012. This offer is available until 30 September 2025.
- Fourth initiative – 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 now encouraged to come forward voluntarily to apply for removal from the SSM register. This incentives is available until 30 September 2025.
In addition to the above initiatives, SSM will continue implementing the Free Business Registration Scheme, which offers a one-year exemption from registration fees for eligible entrepreneurs from the B40 income group, full-time students at higher education institutions, and spouses of B40 entrepreneurs.
The 1 OKU 1 Business Scheme which offers a full waiver of business registration and renewal fees for persons with disabilities, enabling them to legally participate in business activities under the Registration of Business Act 1956 will also continue.
