Companies have been given an extension of up to three months after the end of the movement control order to hold their annual general meeting, according to the Companies Commission of Malaysia .
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. In addition, a three-month extension is granted for companies with financial year ended Sept 30 to Dec 31, 2019, to lodge financial statements, but they are required to apply to SSM for the extension with no fee imposed.
The regulator is also increasing the current indebtedness threshold from RM10,000 to RM50,000 until Dec 31, 2020, to reduce action to wind up companies. The period to respond to a notice of demand has also been lengthened to six months compared with 21 days at present.
Is it still not allowed to travel more than 10 km or this restriction is not allowed?
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