Chartered Secretaries Malaysia (MAICSA)

Updated: 12 Sep 2023

SSM Announcements - 24 July 2023

Suruhanjaya Syarikat Malaysia (SSM) issued the following announcements:

Bulk Submission Of Financial Statement

On 13 July 2023, the Counter Service Management Unit of Suruhanjaya Syarikat Malaysia (SSM) issued a notice stating that the ‘bulk submission’ counters will be opened starting from 14 July 2023 to 31 July 2023 to facilitate the bulk submission of financial statements.

Criteria for the bulk submission are as follows:

a.	For submission of financial statement only.
b.	Payment via cheque of the management companies and bank draft. Make sure the information on cheques and bank drafts are correctly stated, clear, complete, signed and not expired.
c.	Acknowledgment Acceptance of financial statement Form (2 copies). Restricted to one Form for a maximum of 5 sets of financial statements only.

Please click on the following for further details:

The SSM notice serves as an advance notice to comply with sections 258 and 259, with the financial statements for year-ended 31 December 2022 to be lodged with the Registrar not later than 31 July 2023.

SSM facilitates the bulk submission of financial statements up to 31 July 2023 only. For any non-bulk submission of financial statements, it can still be lodged during the 7-days grace period provided the financial statement are being lodged in a single submission over the counter or via MBRS Portal, whichever is applicable. Bulk submission of the financial statements during the 7-day grace period will not be available.

The 7-day grace period as envisaged in Practice Directive No. 1/2017 (PD1/2017) is applicable and effectual until the said PD1/2017 is revised.

Additionally, members may wish to refer to Practice Note No. 3/2018 relating to application for an extension of time, if required under sections 609(2), 259(2) and 340(4) of the Companies Act 2016 to ease compliance and to avoid hefty penalties being imposed.

Members are advised to revisit the Technical Announcement released by the Institute on 1 July 2017 relating to “Section 259 of the Companies Act 2016 versus Item 17 of Practice Directive 1/2017 - Availability of 7- day Grace Period” for useful information.

Duty To Lodge Financial Statement For The Year Ended 31 December 2022

On 18 July 2023, SSM issued a notice stating that the companies with Financial Statements (FS) for the financial year ending 31 December 2022 are required to lodge such FS within the following period:

(a)	for a private company, within 30 days from the circulation date to its members; and
(b)	for a public company, within 30 days from the date of the Annual General Meeting.

Lodgement can be made via the MBRS Portal or over the counter at any of SSM’s offices nationwide (except UTCKL SSM Office and KPDN Putrajaya SSM Office).

Any failure to lodge this FS within specified period may be subject to a late lodgement penalty as stipulated by Practice Directive No. 1/2017.

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