Please be informed that the threshold of indebtedness of RM50,000, which was prescribed pursuant to paragraph 466(1)(a) of the Companies Act 2016 under Gazette Notification 8032 [G.N. 8032] effective from 23 April 2020 to 31 December 2020 is now extended to 31 March 2021.
To support the business community during the economic recovery period, the extension of the indebtedness threshold to RM50,000 is necessary to assist companies which are affected by the extended period of the Movement Control Order due the COVID-19 pandemic.
Please click at this link to view the new Gazette Notification on the Prescription of Amount of Indebtedness of Company under Paragraph 466(1)(a) of the Companies Act 2016:
https://www.ssm.com.my/Pages/Legal_Framework/Document/GN%2021841_KPDNHEP%2030.12.pdf
1 January 2021
