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With effective 10 January 2023, SSM make 3 compound reduction initiatives to corporate community to ease their financial burden

1^st initiative –

90% discount from the original compound value on companies that have a 'dissolved' status under the Companies Act 1965 (CA1965) and the Companies Act 2016 (CA2016).

2^nd initiative –

90% discount from the original compound values for all common offenses under the CA2016 with immediate effect. The compound reduction will be given to the company after compliance with the failure or fault is taken action by the company. Compound reduction is only given for common offenses under Section 68(1), Section 248(1), Section 258(1), Section 259(1), Section 340(1), Section 30(1) and Section 30(2) of the CA2016.

3^rd initiative –

90% discount from the original compound value for all offenses under the CA1965.

For more information, please refer to SSM website 

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