KPDNHEP to implement 29 initiatives to assist business community - Nanta

Its Minister, Datuk Seri Alexander Nanta Linggi in a statement today said the initiatives cover two categories which is moratorium and stimulating the economy.

He said the moratorium category included a reduction of up to 60 per cent on compounds issued by the ministry for certain offences, extension of free registration period for BizTrust of the Companies Commission of Malaysia (SSM) up to Dec 31 2021 and reduction in compound for application to cancel companies under Section 549/550 of the Companies Act 2016 until Jun 30 2021.

"Measures under the category to stimulate the economy would include the "Franchise @ Marketplace" Programme; rented kiosk or push carts at selected supermarkets as well as extending the valid period for permit holders of control goods from one year to three years and the permit of special control goods from six months to a year, he said.

According to Nanta, all initiatives are aimed at enhancing growth in the domestic industry sector apart from facilitating work process in line with the requirements of new normal during the post-COVID-19 era.

Apart from that, KPDNHEP is also amending several acts under the purview of the ministry to improve the rehabilitation and rescue mechanism of companies facing financial problems, he said.