19 Nov 2015 – SSM BLACKLISTING INDIVIDUALS WITH OUTSTANDING COMPOUND
With effect from 1 December 2015, the Companies Commission of Malaysia (SSM) will be implementing the 2nd phase of blacklisting individuals with 2 outstanding compound issued up to year 2014 for offences under the Companies Act, 1965 (Act 125). This will affect the lodgement of statutory documents and also the formation of a company by the blacklisted individuals.
Any lodgement of statutory documents such as Form 49, 48B, 48C and 48E will be queried as long as the status of the individual concerned is still in the “black list”. This will also affect the formation of a company and filing Form the First Forms after the establishment of company through MyCoID system. As a result, the statutory documents cannot be registered, the appointment of directors cannot be effected and company could not be registered.
Hence, the status of the individual would have to be verified prior to lodgement of documents with the SSM. Status of outstanding compounds can be reviewed at e-Compound modules that can be accessed under the menu e-services in the official website of the SSM.
You may refer to SSM’s FAQ on Compound for further information.
Should you need any professional advice in relation to SSM’s compound, please email us at email@example.com and we will promptly reply within 24 hours.
(Source: SSM email notification)