How To Strike-Off Company In Malaysia?

April 20, 2023

Attention all business owners in Malaysia! Are you looking to close your company and about activating a strike? Look no further because we have got you covered. In this blog post, we will guide you step by step on how to strike-off for your company in Malaysia without any hassle. So, buckle up and get ready to learn everything you need to know about closing down your business legally and smoothly. Let's dive right into it!

When should you Strike Off the Company in Malaysia?

When you strike off a company in Malaysia, a few things need to be done to ensure that the process is completed properly. The most important step is to submit a written notice to the Registrar of Companies (ROC)/ Companies Commission of Malaysia (CCM), which states your intention to terminate the company's existence. After you submit this notice, the ROC will begin the formal process of terminating the company.

 For the strike-off to be effective, it must be approved by both the ROC and the company's shareholders. Once both bodies have been approved, the company will automatically be dissolved, and all its assets will be transferred to its liquidator.

How to Deregister or Strike Off Company in Malaysia?

If you want to deregister or strike off your company in Malaysia, the procedures are as follows:

 To deregister your company in Malaysia, you need to apply with the Corporate Affairs Department of the Ministry of Finance. The application must include the following:

  • A copy of your company's articles of association.
  • List of shareholders and directors.
  • Financial statements.

The Corporate Affairs Department will then send you a notification certifying that your company has been deregistered.

 You must apply with the Registrar of Companies to strike off your company in Malaysia. The application must include the following:

  • A copy of your company's articles of association.
  • List of shareholders and directors.
  • Financial statements.

The Registrar will then send you a notification certifying that your company has been struck off.

How to Start the Strike-Off Process?

While considering how to start the strike-off process in Malaysia, it is important to understand the different stages involved. The first step is to file a notice of intention with the Registrar of Companies (ROC)/ Companies Commission of Malaysia (CCM). This can be done through any online SSM portal or by mailing a statutory declaration specifying your grounds for wanting to strike off the company. Once this has been filed, the ROC will send out a request for further information from the company. After receiving this information, they will then notify all shareholders and directors to attend a meeting set up specifically for this purpose. If no response is received or any objections are raised at the meeting, then the ROC will proceed with striking off the company.

Conclusion

Certain legal formalities must be followed to activate a strike-off company in Malaysia. By following the correct procedures, you can ensure that your business is legally struck off and protected from future legal proceedings. Contact an experienced incorporation specialist - Paul Hype Page if you have any questions or concerns about the process.

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Emiy Watson

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