Company dissolution.

For whatever reason, if you decide to no longer continue to do business in Malaysia, you need to go through the formal process of closing down your company.

Company dissolution

Closing a company in Malaysia.

When a business/company deregistered with the Suruhanjaya Syarikat Malaysia (SSM), it implies the business entity is no longer registered and has no legal standing since it’s not doing any business nor have assets or liabilities. There are two ways of closing down the Sdn Bhd Company:

  • Strike off the company’s name at SSM
  • Winding up/liquidation

Striking off a solvent company.

The company has not been carrying on businessor is not in operation and has no intention to carry on business in the future

  • The company is not carrying on business or is not in operation.
  • The company has no assets and liabilities at the time when the application is made
  • The company has no outstanding chargesin the Registrar of Charges and Compounds
  • The company has no outstanding tax or other liabilitieswith any Government Department
  • The director and the company are not involved in any legal proceedings within or outside Malaysia
  • The company is not a holding company
  • The company has not made any return of capital to the shareholders in the company
  • The company is not a “Guarantor Corporation”. A “Guarantor Corporation” means a corporation that has guaranteed or has agreed to guarantee the repayment of any money received or to be received by any third party.

Liquidation or winding up.

Contrary to striking off, liquidation or winding up is a process set in motion either voluntarily (or involuntarily due to not being able to meet its financial obligations). The basic form of company liquidation in Malaysia is:

Members’ voluntary liquidation of a solvent company

When the company is solvent and its members or shareholders decide to cease business operations, a voluntary liquidation is adopted. The process begins with appointing a liquidator that wind up the company’s affairs and to file the necessary notifications required under the Companies Act with SSM and Official Receiver.
Ready to get started?

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Jessica Leong, Regional business development manager

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