SSM, Reactivating Online Services to Mitigate the COVID-19 Challenges!
As the world fights the COVID-19 pandemic, it’s time that each one of us extends our support and diligently follows the directives of the government so that we can overcome this global crisis.
In line with the Movement Control Order (MCO) across the country to prevent further virus spread, the Companies Commission of Malaysia (SSM) has shut down its physical centers until April 28, 2020.
SSM recognizes its monumental responsibility of maintaining the well-being of Malaysian companies. Hence, it has regularly released notices to ensure that while they have closed down physical operations, they are taking effective steps to cater to the corporate entities’ needs via online services.
SSM Guidelines for the Business on COVID-19:
SSM has launched many online services like MyCoID, EzBiz Online, and SSM e-Info in stages, starting from March 28, 2020.
We have summarized the important guidelines by SSM regarding the services of these portals and other extension announcements made for alleviating the distress of COVID-19 on businesses.
- MyCoID shall be accessible and in operation 24 hours a day.
- The already registered users can access the portal. SSM has also enabled a user registration module for the future. However, new users will be able to activate after an identity verification, which can happen only when the physical counters are back in operation.
- MyCoID shall support transactions pertaining to user registration, search and name application, first secretary appointment (AFC), constitutional submission (LoC), company incorporation (INC), change of registered address (CRA), return of allotment of shares (RoA) member registration (RoM), change of officer information (CPO), and reassignment of Company Secretary (RAC).
- EzBiz Online
- SSM has also reactivated Ezbiz online services, a portal to help in business-related matters. It operates round the clock.
- It allows business registration transactions, renewal of registration, modification or termination of business information with the exception of the change in the business address and business owner.
- SSM e-Info
- Another extension to reactivated online services, SSM, on March 28, 2020, made corporate information supply available via the e-Info portal 24 hours a day.
- The online services for the portal are available for company profiles without or with Certified True Copy (CTC) and for business profiles without or without CTC.
Period Extension for Company Secretaries to comply with 20 CPE
After the postponement and cancellation of various courses offered by the SSM, professional bodies and other training providers due to COVID-19 spread prevention measures, SSM has extended the compliance period for the renewal of practicing certificates under Section 241, based on the following conditions:-
- The extension period applies only to practicing certificates that expire from 14 March 2020 to 31 December 2020.
- The extension time to collect 20 CPE points is limited only for the first renewal of PC.
- Failure to collect the remaining CPE points may result in the rejection of 2nd renewal application.
You can reach out to us if you have any queries regarding the SSM mandates on XBRL Filing or business-related matters. We can help you understand the financial scenario better and relieve you of any worries by providing accurate information on any government actions toward the survival of businesses amid this global crisis. Write your queries to email@example.com.