Description
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An Application for Extension of Time (EOT) allows companies to request additional time from the Companies Commission of Malaysia (SSM) to meet statutory deadlines such as lodging of Annual Returns, Audited Financial Statements, or holding of Annual General Meetings (AGM). This helps companies avoid late filing penalties and ensures continued compliance with the Companies Act 2016.
GOV Department
- Suruhanjaya Syarikat Malaysia (SSM)
Details
- Must be submitted before the original deadline.
- Required for:
- Delay in holding AGM
- Delay in lodging Financial Statements
- Delay in submitting Annual Return
- Application must include:
- Justification letter
- Supporting documents
- Prescribed EOT form (via MyCoID or over-the-counter)
- Processing time: Around 3–7 working days upon complete submission.
Important Rules
- Application must be made in advance before the due date.
- Valid reasons must be provided (e.g., audit delays, company restructuring, COVID-19 impacts).
- Approval is at the discretion of the Registrar (SSM).
- If rejected, late filing penalties will apply.
Compound & Punishment
- If no extension is applied and documents are submitted late:
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Compound fines of up to RM5,000 per offence
- Daily fines for continuous non-compliance
- Directors may face personal liability
- Repeated non-compliance may lead to company blacklisting, legal action, or deregistration by SSM
Advisor
Jeffrey Eh Hao Yih , Director
Jeffrey has been providing expert guidance for businesses dealing with ongoing challenges. With his expertise, he aids clients in strategic business planning, streamlining operations, and enhancing productivity. Additionally, Jeffrey offers diverse business technology services to help digitize traditional businesses effectively.