Summary Of The Companies Commission Of Malaysia’s Covid-19 Measure: Extension Of Time (EOT).

Companies Commission of Malaysia’s Covid-19 Measure and the Extension of Time (EOT) provided for:
 

i. Circulation of Financial Statements and Reports,
ii. Holding of Annual General Meeting (AGM), and
iii. Lodgement of Financial Statements for Companies Affected by the Implementation of Movement Control Order (MCO)
 

Summary
 

This Practice Directive issued pursuant to Section 20C of the Companies Commission of Malaysia Act 2001 and Practice Note No. (PN) 3/2018 dated 01.06.2021 serves to provide an EOT for the following by the implementation of the MCO to curb the spread of COVID-19:
 

• To circulate financial statements and reports in accordance with PN 3/2018 – a period of 90 days;

• To hold an AGM in accordance with S.340(4) CA 2016 – a period of 90 days; and

• To lodge financial statements and reports in accordance with S.259(2) CA 2016 – a period of 90 days.
   

Requirements
 

• the company must comply with all the requirements as specified in this Practice Directive in the First Schedule;

• an application for EOT must be submitted to the Registrar by completing the information in Appendix (A); and

• the application must be submitted to the Registrar within the timeframe (1 June 2021 until 31 July 2021) and via email to eotmco3@ssm.com.my.
   

Applicable Fee – The RM100 fee for the application of EOT has been waived.
 

Eligibility – Companies having financial year-end after 31 October 2020 – 31 January 2021
 

Link – https://www.ssm.com.my/Pages/Legal_Framework/Document/PD

%208.2021%20CA%202016%20(31.5.2021)(RDSD)_Final.pdf.