Not Yet Commenced Business Companies in Malaysia

According to the Companies Commission of Malaysia (SSM), a company is not yet commenced business if it has not carried out any business activity or generated any income within eighteen (18) months from the date of its incorporation.

If a company is not yet commenced business, it is still required to file its annual return and financial statements with SSM. However, the company is not required to hold its annual general meeting (AGM).

A company which has not commenced business may be wound up by the court if it is just and equitable to do so. The court will take into consideration whether the company is able to pay its debts as they fall due and whether it is carrying on business in a manner prejudicial to the interests of its members or the public.