Description
- Company Striking Off is the process of legally dissolving a company that is no longer active or has ceased operations. This process removes the company’s name from the register maintained by the Companies Commission of Malaysia (SSM).
GOV Department
- Suruhanjaya Syarikat Malaysia (SSM) / Companies Commission of Malaysia
License Name (Malay)
Penggulungan Syarikat
Details
- Applicable to private limited companies (Sdn Bhd) that meet the criteria for voluntary dissolution.
- The company must have ceased operations, settled all debts, and have no outstanding liabilities.
- Requires submission of Form e-SSM Strike Off Application along with supporting documents, such as board resolutions and financial statements.
- The process is governed by Section 550 of the Companies Act 2016.
Important Rules
- The company must not have any ongoing legal proceedings or unsettled disputes.
- All directors and shareholders must unanimously agree to the striking-off application.
- The company must ensure all statutory obligations, such as tax returns and employee contributions (e.g., KWSP and SOCSO), are fulfilled.
- Notices will be issued to creditors, stakeholders, and relevant authorities to allow objections before the company is struck off
Compound & Punishment
- Submitting false information or failing to disclose material facts may result in:
- Fines of up to RM50,000, imprisonment of up to 5 years, or both.
- Attempting to strike off a company with unresolved liabilities can lead to rejection of the application and potential legal action.
- Directors may face disqualification for future directorships if found in breach of the Companies Act 2016.
Advisor
Jeffrey Eh Hao Yih , Director
Jeffrey has been providing expert guidance for businesses dealing with ongoing challenges. With his expertise, he aids clients in strategic business planning, streamlining operations, and enhancing productivity. Additionally, Jeffrey offers diverse business technology services to help digitize traditional businesses effectively.
Commonly Asked Question
Company Striking Off is the process of removing or dissolving a company’s name from the SSM register, meaning the company will no longer exist legally.
It’s a cheaper and faster way to close a company that’s no longer active.
To strike off a company in Malaysia, you need to apply to the Companies Commission of Malaysia (SSM) under Section 550 of the Companies Act 2016. The company must have no outstanding debts, liabilities, or pending legal matters. At Conzlab, we guide you step by step in preparing the required documents and submitting your application smoothly.
The cost to strike off a company in Malaysia mainly involves government filing fees and professional service charges. At Conzlab, we provide transparent pricing so you know exactly what you’re paying for before starting the process.
The striking off process usually takes between 6 to 12 months, depending on SSM’s review and whether all documents are complete. With Conzlab’s assistance, we ensure your application is filed correctly to avoid unnecessary delays.
Only the director of the company or the company secretary (on behalf of the director) can apply to SSM for striking off under Section 550 of the Companies Act 2016.
A company can apply if it:
- Has stopped business or is not operating,
- Has no assets or liabilities,
- Has no outstanding penalties or fines with SSM or LHDN,
- Has no charges registered, and
- Has all directors’ and shareholders’ consent.
- Application letter or Form Section 550
- Board resolution for striking off
- Consent from all directors and shareholders
- Latest financial statement (if any)
- Tax clearance letter or LHDN confirmation
Once struck off, your company no longer exists legally.
You cannot continue any business, own assets, or use the company name.
All remaining assets will belong to the Government of Malaysia.
Yes. You can apply to reinstate the company through SSM or the High Court within 7 years from the date of striking off, if you have valid reasons and supporting documents.
Yes. SSM can automatically strike off a company if it fails to file Annual Returns or Financial Statements for three consecutive years or is not in operation.