No reason SSM can’t continue online service, says source

The Companies Commission of Malaysia stopped its online services following the government’s movement control order.

PETALING JAYA: A source familiar with the workings of the Companies Commission of Malaysia (SSM) says there is no reason for the agency to stop its online service which e-wallet companies and banks are heavily reliant on.

Speaking to FMT, the source who did not want to be named said SSM’s online service ran only on computers and servers.

“There is no human interaction. You only need humans for the call centres to provide support for the online services.

“But support services can be done remotely. Now, without SSM’s online service, e-wallet companies, insurance companies and banks cannot carry out due diligence and background checks,” the source said.

Earlier today, former federal minister Liew Vui Keong urged SSM and the government to review the cessation of SSM’s online services.

SSM had said yesterday that it would stop counter operations at 3pm and online services at 5pm, and resume normal operations only after April 1, following the government’s decision to implement a movement control order to stop the spread of Covid-19.

The source said the government should instruct SSM to resume its online service.

“You don’t have to open counters at SSM, and if you don’t want to open the call centre, remote support is possible.

“If the government does not resume SSM’s online service, business will stop for two weeks because those who rely on the service can’t do their jobs. This would be a huge step backwards.”

SSM’s online service allows the public and private sector, including law enforcement agencies, financial institutions and law firms, to obtain information and documents for investigations and business purposes.

Liew has warned that without SSM’s online service during this period, banks might not be able to carry out due diligence on loan applications while investigations by law enforcement agencies might be impeded.