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Extension of Time (EOT) For Submission of Annual Audited Report (AAR) Due To COVID-19 for Financial Year End 1 April 2020 to 31 July 2020
Dear Vendors,
On 29 January 2021, Suruhanjaya Syarikat Malaysia (SSM) has made an announcement that their initiative (Extension of Time (EOT) for companies to hold annual general meeting (AGM), circulate financial statements and lodge the financial statements to SSM) is extended to companies with financial year end beginning 1 April 2020 to 31 July 2020.
Per PETRONAS requirement, vendors must submit the latest AAR to enable LRS to process license & registration applications. Without the latest AAR, vendors will not be able to submit license/registration applications in PETRONAS License Management System (PLMS).
However, following the announcement made by SSM, vendors with financial year end between 1 April 2020 to 31 July 2020 (where AAR is not available yet or not reflected in SSM profile) may submit license/registration applications in PLMS, following the process stipulated below.
In addition to the EOT granted by SSM and in consideration of longer time taken by SSM to process and upload AAR into their system, PETRONAS will allow additional 2 months (from expiry date of EOT by SSM) for vendors to submit the latest AAR to PETRONAS.
APPLICATION PROCESS
Email to be sent to license.management@petronas.com.my and lrs_enquiries@petronas.com Email Subject Submission of SSM EOT Approval (under COVID-19 initiative) – (Company Name) Required supporting document Management Account signed by Company Director(s) comprising monthly report for the last 12 months.For example: Vendor’s submission is in January 2021. The Management Account (MA) shall be from Feb 2020 until Jan 2021 (i.e. consolidated report showing MA for each month). *Vendors to ensure that all scanned documents are legible for our validation. Special Conditions
- Issuance of interim license & registration based on Management Account is only for the specified duration.
- Vendors are required to submit the latest AAR as soon as it is available.
- Failure to submit the latest AAR by the deadline will result in revocation of the license & registration.
- If revoked, vendors will need to re-apply for license & registration.
IMPORTANT NOTE
PETRONAS also reserves the right to revoke the license/registration approval if vendor’s Net Worth is Negative.
Should there be any further enquiry on this matter, please email us at lrs_enquiries@petronas.com
Thank you.
Yours sincerely,
Licensing and Registration Section
Group Procurement, PETRONAS
References:
SSM Directive on Extension of Time (EOT) application (10 Apr 2020)
SSM Directive on Extension of Time (EOT) application (21 Aug 2020)
SSM Directive on Extension of Time (EOT) application (26 Oct 2020)
SSM Directive on Extension of Time (EOT) application (29 Jan 2021)
