If your company has stopped operating, you may be considering an SSM strike-off. This is a formal application, not simply leaving the company dormant or ignoring annual filings.
Understand what strike-off means
Section 550 of the Companies Act 2016 allows an application for a company’s name to be struck off in appropriate circumstances. SSM reviews the application against its prevailing guidelines; acceptance is not automatic.
Check outstanding affairs first
Review assets, cash, debts, bank accounts, employee obligations, taxation, contracts and ongoing disputes. A company with unresolved obligations may need a different closure route rather than a straightforward strike-off application.
Coordinate company records and declarations
Prepare accurate financial and statutory records, board or member decisions where required, and supporting confirmations relevant to the current SSM guideline. Avoid declaring that a company has no liabilities if its books or tax position are unclear.
Do not stop monitoring after submission
SSM may issue queries, notices or objections, and a company does not cease to exist merely because an application has been sent. Monitor the official status and retain supporting records after the outcome.
Practical example
An inactive Sdn. Bhd. still holding supplier deposits or unpaid bills should not simply declare that it has no outstanding affairs. Reconcile the accounts first and review the correct closure route.
Your practical checklist
- List remaining bank balances, assets and liabilities
- Review tax filings, employees, contracts and disputes
- Ask the company secretary to check current SSM eligibility
- Keep proof of closure decisions and final SSM status
Frequently asked question
Does a strike-off application immediately close the company?
No. The company remains subject to the formal SSM process and outcome, including possible queries or objections.
General information only. Requirements depend on your circumstances and may change. Regulated tax-agent, audit, legal or liquidation work is handled by appropriately qualified professionals.