Understanding e-Compound

e-CompoundE-Compound is an online system the Companies Commission of Malaysia (SSM) provides that allows businesses to settle compound fines electronically. These fines are typically issued for non-compliance with registration and filing requirements under Malaysia’s business regulations.

 

Why is E-Compound Important?

  • Convenience: It allows businesses to settle fines from anywhere, without needing to physically visit an office.
  • Time-Saving: You can quickly check and pay outstanding penalties without delays.
  • Cost-Effective: The system reduces the need for paperwork and manual processing.

 

How to Use E-Compound

Using E-Compound is simple. To begin, visit the SSM website and log in to the E-Compound portal. You must enter your business details and any reference numbers associated with the fines. Once logged in, you can view all outstanding fines and pay them using various online payment methods, such as credit cards or bank transfers.

 

Types of Fines Available

E-Compound allows firms to settle a variety of fines. These typically include penalties for:

  • Late Filings: Fines for failing to submit annual returns or financial statements on time.
  • Non-Compliance: Penalties for not meeting other regulatory obligations, such as changes in company particulars.
  • Failure to Renew: Fines for failing to renew business licenses or certificates.

 

Who Can Use It?

The service is primarily designed for business owners in Malaysia who have been issued a compound fine. It is particularly useful for:

  • Small Business Owners: Those who may not have time to visit SSM offices can benefit from the convenience of online payments.
  • Corporations: Larger companies can use the system to manage multiple fines efficiently.
  • Accountants: Professionals managing company compliance can use E-Compound to handle payments on behalf of clients.

 

Costs and Getting Started

Accessing and using the E-Compound system is free. To do this, you can visit the official SSM website. Once there, create an account or log in to the portal. After entering your business details and checking for any fines, you can proceed with payment. Payments are processed securely, ensuring a smooth experience.