SSM unveils five initiatives to help businesses

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Companies have been given an extension of up to three months after the end of the movement control order (MCO) to hold their annual general meeting, according to the Companies Commission of Malaysia (SSM). However, the companies need to make an application to SSM to ensure such extension is not being abused, the regulator said in a statement today. This is one of five additional initiatives being introduced by SSM to reduce the burden of the business community and corporate sector impacted by Covid-19, besides the two measures involving SSM that were already announced under the Additional Prihatin SME Economic Stimulus Package. Under the package announced on April 6, the government is giving an automatic 30-day moratorium from the final day of the MCO for companies to lodge their statutory documents with SSM. In addition, a three-month extension is granted for companies with finan…