Jun 9, 2021
Extension of Time for FYE 31 October 2020 to 31 January 2021
In view of the implementation of Movement Control Order 3.0 (MCO) by the government of Malaysia from 1 June 2021 to 14 June 2021, the Companies Commission of Malaysia (CCM) has issued a Practice Directive relating to the Extension of Time for private companies to circulate their financial statements and reports and for the lodgement of the financial statements and reports to the CCM, as well as for public companies to hold their Annual General Meetings (AGM).
The CCM has agreed to grant a possible extension of time for companies having their financial year end AFTER 31 October 2020 to 31 January 2021:
(a) To hold an AGM for a period of 90 days;
(b) To circulate their financial statements and reports for a period of 90 days;
(c) To lodge financial statements and reports for a period of 90 days; and
(d) To waive the application fee of RM100 for each application.
Only companies having their financial year end AFTER 31 October 2020 to 31 January 2021 may apply for this extension of time initiative and companies are required to lodge an application to the CCM.
Please note that the extension of time is not done automatically and therefore, submission of a formal application to the CCM is still required. However, the CCM has agreed to waive their application fee.
Please also note that the extension of time to CCM can only be submitted by your company secretary. Therefore, should your company require for an extension of time application for your financial statements and reports, please contact us as soon as possible.
This initiative from the CCM will end on 31 July 2021.
Kindly be informed that since the extension of time process also requires a directors’ resolution to be passed to give official authority to the company secretary to proceed with it, there will be a minimal fee of RM100 to make sure that all the legalities and requirements for this process are met.