Striking off is the cheapest way to close a Private Limited company. Main reasons to strike off a dormant company:
Savings on Secretarial, Accounting, Audit, Tax and Annual Return filing fees
Prevent fines and penalties to the company and to the Directors personally for failure to submit annual returns and audited accounts to Companies Commission of Malaysia
Strike off qualification status:
The company must not in operation anymore at the time of application for striking off
Must get consent for majority of shareholder
The company has no fixed assets, current asset and liabilities.
The company current account must be closed before application.
The company has no outstanding accounts with Companies Commission of Malaysia, Inland Revenue Board of Malaysia and/or any governmental bodies (including whatever fines/compounds).
The information of the company with CCM is up-to-date.
The company is not involved in any legal proceeding within or outside Malaysia.
The company has not made any return of capital to shareholder
