The Domestic Trade and Cost of Living Ministry, through the Companies Commission of Malaysia (SSM), yesterday announced an additional initiative for compound reduction to support business and corporate recovery.
SSM said the compound reduction initiative, under the Limited Liability Partnership Act 2012, involved a compound reduction of 90 percent to owners of limited liability partnerships who had complied with the compounds.
The initiative is effective from July 3 to Dec 31 and is set to benefit 16,765 limited liability partnerships.
“This initiative is in line with SSM’s efforts to encourage legal compliance, in addition to creating a conducive business environment in Malaysia,” the SSM said in a statement.
It added that the initiative is expected to help the business and corporate community continue operating in a challenging post-pandemic environment.
Earlier this year, SSM announced eight initiatives to help in the country’s economic recovery, including three compound reduction initiatives.
For further information, please contact the SSM call centre at 03-7721 4000 or email enquiry@ssm.com.my.
- Bernama
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