COVID-19 MOVEMENT CONTROL ORDER
Closure of Premises from 18 to 31 March 2020
Pursuant to the issuance of the above order by the Government under the Prevention and Control of Infectious Diseases Act 1988 and the Police Act 1967, all government and private premises would be closed except those providing essential services. The MIA would like to advise all members to comply with the Movement Control Order by closing premises from 18 to 31 March 2020.
We would like to advise all employers to adhere to the relevant laws and regulations with regards to employment. MIA is a member of the Malaysian Employers Federation (MEF) and we would like to share the circular provided by MEF for your reference.
With regards to the query whether MIA Member Firms fall within the definition of “Finance” under essential services, MIA has written to Majlis Keselamatan Negara (MKN) seeking clarification. We will provide updates upon their reply. In the meantime, we would like to advise all firms to adhere to the Movement Control Order.
Implication on reporting and other deadlines
Given the regulatory requirements on financial reporting, annual general meeting and taxation under various laws and regulations, the Institute has written to Bursa Malaysia, Suruhanjaya Syarikat Malaysia (SSM) and the Inland Revenue Board (IRB) to highlight the practical challenges faced by the profession and to consider possible measures. Details on the consultation are attached in Appendix 1.
MIA would like to inform members that SSM has issued a press release on 17 March 2020 which mentioned that companies can apply for extension of period to hold annual general meeting to a time period longer than 6 months from their financial year end. Further information on the SSM statement can be found HERE.
The IRB has also extended the grace period from the due date of the submission of tax returns. Further information can be found HERE.
As the regulator of the profession, MIA is also not exempt from the Movement Control Order. Therefore, all our offices will be closed from 18 to 31 March 2020 and staff will not be in the office pending further directive from the Government.
Despite the closure of our offices, our team will be contactable via online channels as follows:
We thank you for your understanding and patience during this time and we hope that everyone will stay safe.
The Institute will closely monitor the situation, maintain close communication with regulators and will notify members of any future developments.
Dr Nurmazilah Dato’ Mahzan
Chief Executive Officer