MCO: Companies Commission raises debt threshold of companies

SSM has now increased the definition of a company’s “inability to pay” from RM10,000 to RM50,000 until December 31.

“The period to answer the notice of claims by a company has also been lengthened to six months, compared to the previous 21 days, ” he said in a statement on Friday . The campaign, called the “2020 Compliance Campaign of the Companies Act 2016”, will be extended until June 30 this year.

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