Striking Off of Company
FAQs
1) Can a Sdn. Bhd. choose to submit management account for striking off to SSM instead of submitting the latest Financial Statements?
Companies with no assets and liabilities can submit the management account to SSM. However, do take note that SSM reserve the right to request for the audited account to be prepared if needed.
2) What is the processing time to close Sdn. Bhd. by way of striking off?
Approximately 6 to 12 months.
3) What is the differences to close a company by way of striking off and winding up?
The differences in terms of:-
a) current status of the company (solvent or dormant),
b) cost,
c) complexity and
d) time frame.
4) What is the differences to close a company by way of striking off and winding up?
The differences in terms of:-
a) current status of the company (solvent or dormant),
b) cost,
c) complexity and
d) time frame.
5) Ground of objection for striking off Company
- Does not fulfil all the criteria.
- Fail to provide latest eligible Financial Statements.
- The Company has tax outstanding.
- The Company has outstanding charges registered with the registrar.
- The Company has outstanding penalties payable to registrar.
- The Company is involved in any legal proceeding within or outside Malaysia.
- The Company has made return of Capital to Shareholders for the past 12 month (Distribution of Dividend).
- The Company is a Holding Company.
- The Company is a Guarantor Corporation.
- The Company is in receivership or Liquidation.
6) What are the supporting documents to be submitted to registar?
- Latest Financial Statements (Audited or Unaudited)
(It’s advisable to submit Financial Statement to registrar within 60 days from the application date.)
- Letter closure of Bank Account
- Waiver Letter from Shareholder/Director, if any.
- Management account if Financial Statements are unable to be produced.
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