Malaysia – On June 1, 2021, the Companies Commission of Malaysia announced an extension to file certain annual requirements for companies affected by the country’s implementation of travel restrictions in late January due to the continued effects of the Covid-19 pandemic.
Private or public companies who were unable to circulate financial statements and reports to their members, directors, and auditors, and submit these to the Registrar of Companies, can apply for an extension. Additionally, public companies who were unable to hold their annual general meetings within the stipulated timeframe determined by local regulations are also able to apply.
Companies are eligible for an extension if their financial years end between October 31st, 2020 and January 31st, 2021. Applications must be submitted to the Malaysia Registrar of Companies by July 31, 2021, along with a fee of RM100.
Once the extension has been granted, companies must:
- Circulate their financial statements and reports within 90 days from the date they were originally supposed to be circulated.
- Hold their Annual General Meetings (AGM) within 90 days from the date the original AGM was supposed to be held.
- Submit financial statements and reports to the Registrar of Companies within 90 days from the date it was originally due.
To learn more about this requirement and how to comply, contact a CT representative at (844) 322-6993 (toll-free U.S.).