The Companies Commission of Malaysia (‘CCM
’) issued a Practice Directive No. 8/2021
) dated 1 June 2021 titled ‘Extension Of Time For Circulation Of Financial Statements And Reports, Holding Of Annual General Meeting And Lodgement Of Financial Statements For Companies Affected By The Implementation Of Movement Control Order’.1
Extension of Time
PD8/2021 extends the deadline for a company to hold its annual general meeting (‘AGM
’) and to circulate and lodge its financial statements and related reports (collectively ‘FS
’) as follows:
Only companies having financial year end after 31 October 2020 to 31 January 2021 are eligible for extension of time under PD8/2021.
Procedure for Application
The extension is not automatic. A company seeking an extension must submit an application in the form provided in Appendix A of PD8/2021 by email to firstname.lastname@example.org
, from 1 June 2021 to 31 July 2021. The application fee of RM100 will be waived.
The extension of time granted by the CCM under PD8/2021 for circulating the FS, holding an AGM and lodging the FS will be welcomed by companies which have encountered difficulties in complying with the timeframes set out in the Companies Act 2016 due to the implementation of the movement control order which is currently in place in Malaysia.
Alert prepared by Rachel Ten (Senior Associate) in the Corporate Practice of Skrine.