SSM to offer discounts on compounds

PETALING JAYA: The Companies Commission of Malaysia (SSM) will offer discounts of between 50% and 80%, from Sept 1 to Dec 30, 2018, to companies with outstanding compounds.

Domestic Trade and Consumer Affairs Minister Datuk Saifuddin Nasution Ismail said the incentive, given in conjunction with SSM’s campaign themed “Comply With Companies Act, Show Interest, Love Your Companies”, was aimed at assisting companies settle their compounds.

“The reduction is based on the different quantum applicable for the month payment is made, that is 80% in September, 70% in October, 60% in November and 50% in December,” he said.

Saifuddin was speaking at a press conference after launching the SSM National Conference 2018 themed “Doing Business In The Age Of Disruption”.

He said the campaign would be implemented nationwide and urged all relevant parties to take advantage of the discounts offered.

SSM would also introduce two initiatives – the Corporate Rescue Mechanism and the Malaysian Business Reporting System – to fur- ther strengthen corporate governance in Malaysia.

On the reintroduction of the sales and service tax (SST), Saifuddin said the ministry would give its full support to ensure all related bills are approved in both the Dewan Rakyat and state assemblies.

“We can only implement the new SST-related Acts once the related laws are passed by both legislatures.

“Apart from this, we will intensify efforts to take care of consumer interests and avoid excessive price increase in goods due to profiteering,” he added. — Bernama

The reduction is based on the different quantum applicable for the month payment is made, that is 80% in September, 70% in October, 60% in November and 50% in December.