Further to our announcement released on 17 February 2023 relating to the Ministry of Domestic Trade and Cost of Living (KPDN) had through Suruhanjaya Syarikat Malaysia (SSM) introduced eight initiatives for the year 2023, SSM had on 26 October 2023 issued a notice reminding that one of the eight initiatives ie compound reduction of 90% of the original compound amount will end on 31 December 2023.
Company directors, business owners, and owners of Limited Liability Partnerships (LLPs) can utilise the initiative to clear the compound by 31 December 2023. All compounds offered under the Companies Act 1965, Companies Act 2016, or Limited Liability Partnerships Act 2012 would be reinstated to original amounts/rates after 31 December 2023.
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