Penalty for failing to lodge Financial Statements for a Public Company

As per Section 259(3) of the Companies Act 2016:

1. Every officer who contravene this Section commit an offence and shall, on conviction, be liable to a fine not exceeding RM 50,000.00; and
2. In the case of a continuing offence, a further fine not exceeding RM1,000.00 for each day during which the offence continues after conviction.

More information: Section 259 Companies Act 2016.