KUALA LUMPUR – The Licensing Officer of the Ministry of International Trade and Industry (MITI) has agreed to grant an extension of the project implementation period for companies, which have been accorded Manufacturing Licences under the Industrial Coordination Act, 1975.
In a statement today, MITI said that this is part of the pro-active measures undertaken by the Government in ensuring that the Malaysian economic sectors remain competitive despite the current COVID-19 pandemic.
“Under the normal procedure, licensed companies are required to implement their approved projects within a period, as stipulated in their Approval Letter of Manufacturing Licence.
“With the implementation of this relaxation mechanism, an approved manufacturing company will be automatically given an extension of 12 months to implement their projects. The 12-month extension period will commence from the end date of the implementation period stated in the approval letter,” said MITI.
This automatic extension shall only be applicable and available to companies that have obtained Interim Approvals or Manufacturing Licences under the Industrial Coordination Act, 1975 from MITI, and have not yet implemented their projects.
“To enjoy this automatic extension, companies are required to apply to the Malaysian Investment Development Authority (MIDA), a government agency under MITI, by scanning the QR Code provided herewith. Companies can submit their applications to MIDA from 16 June 2020 until 31 May 2021,” said the agency.