Support Measures

COVID-19: Interim “Immunity Booster” for Financially Distressed Companies

In fighting against our common enemy, COVID-19, the Government of Malaysia has implemented a Movement Control Order (“MCO”) commencing on 18 March 2020 and currently extended until 12 May 2020 (“MCO Period”).

It is inevitable that beyond the MCO Period, the global and domestic economies will continue to be severely impacted due to reduced socio-economic activities – with each passing day, many business entities are struggling to survive.

In this Update, we are specifically considering the practical and legal issues pertaining to the interim measures taken by the Government of Malaysia in an attempt to assist financially distressed companies from being wound up by the Court.