SSM – Extension of Period for Waiver of Late Lodgement Fees of Audited Financial Statements and Reports (“AFS”) via MBRS 2.0 (“Waiver of Late Lodgement Fees of AFS Extension”)
Key Update: Waiver of Late Lodgement Fees of AFS ExtensionExtension Period: 1 October 2025 – 30 November 2025SSM Announcement Date: 26 September 2025 Companies Commission of Malaysia (“SSM)” had on 26 September 2025 issued an announcement on the extension of period for waiver of late lodgement fees (pursuant to Practice Directive 1/2017) for AFS under […]
Driving Corporate Sustainability with the National Sustainability Reporting Framework (NSRF)
In an era where environmental, social, and governance (ESG) factors are paramount to investors, Malaysia is taking a significant step forward with the implementation of the National Sustainability Reporting Framework (NSRF). Developed by the Securities Commission Malaysia (SC), the NSRF is a crucial initiative designed to ensure corporate Malaysia provides consistent, reliable, and comparable sustainability […]
SSM – New Audit Exemption Qualifying Criteria for Private Companies with effect from 1 January 2025 (Practice Directive No. 10/2024)
New Audit Exemption Qualifying Criteria – PD10/2024 On 16 December 2024, Companies Commission of Malaysia (“SSM”) issued Practice Directive No. 10/2024 (“PD10/2024”), relating to the new qualifying criteria for private companies from having to appoint an auditor in a financial year (“Audit Exemption”). The new qualifying criteria will be applicable to the financial statements with […]
SSM – Mandatory Implementation of MBRS 2.0 by Companies Commission of Malaysia
Compulsory Digital Submission of Financial Statements and Reports (“FSR”) under MBRS 2.0 www.ssm.com.my/Lists/Announcement/AnnouncementDetails.aspx?ID=379 maicsa.org.my/resources/technical-research/technical-announcements/2024/241127-ssm-mandatory-implementation-of-mbrs-20-in-stages?fbclid=IwY2xjawG09c5leHRuA2FlbQIxMAABHRWpSSrnSrNGsLn0mBZrhoOWQN9MLBVqXQSbh-vdydW9k_GKo5VOjFJ3Fw_aem_8KA6DQ2TkTekorqizg8DZw Compliance Action Connect with Us We encourage you to connect with our team to explore how we can support your compliance needs. Disclaimer The information provided herein is for general information purposes. While we strive to ensure the accuracy of the […]
Key Requirements of the Malaysian Companies Act 2016 – Annual Return, Financial Statements and Annual General Meeting
Introduction: The Malaysian Companies Act 2016 (“the Act“) sets out a comprehensive framework for corporate governance, and ensuring strict compliance is a fundamental duty of every company director, secretary and officers. This insights document provides a concise overview of key compliance requirements under several critical sections of the Act. Staying ahead of these obligations is […]
Malaysia Companies Act 2016 – Declaration of Dividend
Solvency Test Under the new Companies Act 2016 (“CA 2016”) which had been implemented by stages on 31 January 2017, solvency test was introduced to protect and safeguard the rights of parties that doing business with companies. Directors would have the responsibility to ensure the company meets the solvency requirements when company distributes dividends, reduced […]
LHDNM – Revised Dividend Voucher in Line with Introduction of 2% Tax on Dividend Income Exceeding RM100,000.00 Effective 1 January 2025
The introduction of the 2% dividend tax in Malaysia, effective from the Year of Assessment (YA) 2025, necessitates a revision of the traditional dividend voucher format. This new tax is a self-assessment tax for individual shareholders, meaning the company’s role is to provide accurate documentation so the shareholder can properly file their taxes. Key Changes […]