SSM raises indebtedness threshold for companies to RM50k on permanent basis

SSM raises indebtedness threshold for companies to RM50k on permanent basis - Hello loyal readers FeedGoogle, In the article you are reading this time with the title SSM raises indebtedness threshold for companies to RM50k on permanent basis, We have prepared this article well for you to read and take information in it. hopefully the contents of the post Article Malaysians, what we write you can understand. Alright, happy reading.

The Companies Commission of Malaysia (SSM) has permanently raised the indebtedness threshold for companies from RM10,000 to RM50,000 effective April 1.Domestic Trade and Consumer Affairs Minister Alexander Nanta Linggi (above) in a statement today said the initiative was in the wake of the global and domestic economic situation, which may take longer to recover from the slowdown due to the Covid-19 pandemic.He said the move to maintain the indebtedness threshold at RM50,000 which was introduced as a temporary measure on April 23, 2020, was aimed at reducing the burden and impact on companies facing cash flow problems to prevent them from winding up."The increase in the company indebtedness threshold is expected to further reduce the number of winding-up petitions, and the companies will be able to continue doing business with confidence and still comply with the law,"…