KUALA LUMPUR – The Domestic Trade and Consumer Affairs Ministry will be implementing 29 targeted initiatives to assist the business community through the Covid-19 Pandemic Caring Programme.
Its Minister Datuk Seri Alexander Nanta Linggi said in a statement today that the initiatives cover moratoriums and economic stimulation.
He said the moratoriums include a reduction of up to 60% on compounds issued by the ministry for certain offences, an extension of the free registration period for BizTrust of the Companies Commission of Malaysia up to December 31, 2021, and a reduction in compounds for applications to cancel companies under Section 549/550 of the Companies Act 2016 until June 30, 2021.
“Economic stimulation measures include the ‘Franchise@Marketplace’ programme, rented kiosk or push carts at selected supermarkets, as well as an extension of the valid period for permit holders of control goods from one year to three years and the permits of special control goods from six months to a year,” he said.
Nanta said all initiatives are aimed at enhancing growth in the domestic industry sector and facilitating work processes in line with the requirements of the new normal.
His ministry is also amending several acts under its purview to improve the rehabilitation and rescue mechanisms of companies facing financial problems. – Bernama, January 19, 2021
