Tel No : 011-6257 8338 | Email : vca.advisory@gmail.com | Plaza 333, Jalan Pintas Penampang.
Tel No : 011-6257 8338 | Email : vca.advisory@gmail.com | Plaza 333, Jalan Pintas Penampang.
Apart from overseeing and guaranteeing adherence to pertinent legal mandates, a Malaysian company secretary is also accountable for the subsequent duties:
Developing meeting agendas with the chairman and/or chief executive; attending meetings, taking minutes; keeping minute books; attesting copies of minutes; and making sure that proper procedures are followed are all examples of co-ordinating the operation of the formal decision-making and reporting machinery of the company.
Initiating and securing approval from both internal and external parties for any paperwork intended for distribution to shareholders; assisting with administrative tasks, attending meetings, taking a few minutes, and making sure that the right protocols are followed.
Ensuring the company’s conformity with its constitution and crafting or integrating amendments in alignment with the appropriate procedures.
Updating SSM on:
– changes to a company’s director(s) or information about the director(s)
– alterations to a director’s home address or name
– termination of employment in line with the Malaysia Companies Act or the constitution
– exclusion from public office
– appointments/withdrawal/deaths
– yearly yield
– renaming of the business
– constitutional adoption, modification, and revocation
– Share issuance
– more modifications that need to be updated with SSM
organizing the creation of the directors’ report as well as the publishing and dissemination of the company’s accounts, interim statement, and annual report.
Keeping up the membership list for the company, handling stock transfers and other issues, and responding to shareholder inquiries and requests following the firm’s registration.
Circulars as a means of communication with shareholders; interest and dividend payments; paperwork on capitalization and rights concerns; general shareholder relations; and interactions with institutional shareholders and their investment protection committees.
Notifying members about beneficial ownership of holdings and keeping an eye out for indications of “stake-building” in the company’s shares by prospective takeover bids through changes in the member registration.
Setting into implementation revisions to the loan capital and share structure of the company as well as designing, putting into practice, and overseeing plans for employee and director share participation.
Being an integral part of the group that the company formed to carry out corporate buys and sells, safeguarding the company’s interests by making sure that all paperwork is in order and that disclosures related to due diligence allow for appropriate commercial analysis before a deal is finalized.
Examining advancements in corporate governance and offering guidance and support to the directors regarding their roles and responsibilities, adherence to their individual legal obligations under the firm, and, where relevant, Stock Exchange regulations.
Serving as a medium for interaction and knowledge sharing with non-executive directors of the company.
Ensuring the safe custody and proper use of the company seal if provided for in the company constitution.
You will receive notifications from Voo Corporate Advisory regarding filing deadlines and compliance-related issues.
ANS: Indeed. The Companies Act of 2016 mandates that a company secretary be employed by each and every registered company in Malaysia. In addition, if a secretary is employed or fired, the business has to let the Registrar know within 14 days.
ANS: A company secretary plays a significant and essential administrative role in a company. He or she is responsible for providing advice to the Board and ensuring the company is compliant with the law at all times. A company secretary is also an authorised officer of the company.
ANS: To select a company secretary, there are several methods. A competent company secretary can be chosen on your own or with the assistance of business organizations like Voo Corporate Advisory.
ANS: The duties of a corporate secretary consist of:
– giving the board financial and compliance guidance.
– drafting resolutions in advance of the next board meeting.
– recording board meeting minutes.
– keeping track of the fiscal year’s end (FYE).
– filing SSM’s yearly reports.
– making certain that the company’s information and guidelines are current.
– Serving as an authorized liaison on the part of the business.
ANS: Every business must appoint a company secretary within 30 days after incorporation, according to the Companies Act of 2016. The Act, which is also known as Akta Syarikat 2016 in Malay, has regulations for company secretaries that include:
– designation of secretaries for the firm
– obligations of corporate secretaries
– Secretaries in the corporation resigned.
– Exclusion of company secretaries.
– dismissal of secretaries for the company
ANS: You can face penalties if, within 30 days of your company’s incorporation, you do not engage a company secretary.
ANS: Following the incorporation process, you must designate a company secretary within 30 days of getting the SSM Certification of Incorporation. For more information, see Section 236 of the Companies Act.
ANS: No, corporate secretaries can only be appointed by competent people.
ANS: You certainly can. A lot of small and medium-sized companies lack the funding necessary to employ a corporate secretary on a full-time basis. As a result, these companies opt for a less expensive solution and outsource corporate secretaries.
ANS: A business’s directors may fire a company secretary by giving them written notice in advance. However, in the event that the company secretary committed a major offense, the dismissal of the secretary would be immediate and would not require a prior written notice.
ANS: The legislation stipulates that you can only have one secretary. You are able to select to have multiple, though.
ANS: Indeed. Company secretaries take notes during board meetings and provide the directors with shrewd counsel. In addition, business secretaries are responsible for updating the executives of the company on the choices reached during board meetings.
They are also in charge of communicating the approaching meeting and its agenda to the chairman, directors, and other senior members of the corporation prior to the meeting. The corporate secretary’s presence guarantees that the meeting runs smoothly and isn’t handled informally.
ANS: No, the board of directors does not include the corporate secretary. The corporate secretary is in charge of the administrative tasks within the organization and has a high position. They lack the same authority as the Board of Directors, though.
ANS: As mandated by the Companies Act of 2016, a company secretary must carry out their responsibilities honestly and to the best of their abilities. They may be held accountable if they fail to complete their tasks. If company secretaries commit wrongdoing, they may be charged with a crime; typically, these charges come with a fee that must be paid.
ANS: A person serving as a corporation’s only director may also hold the position of company secretary. However, dual capacity is prohibited by the Companies Act of 2016. This implies that a person cannot assign a task that calls for both a business secretary and a director.
Two different people must carry out the Act’s execution.
According to the Registration of Business Act of 2016, a company profile is used in Malaysia to access credit reports for all companies registered with the Companies Commission of Malaysia (SSM).
A company profile in Malaysia search also provides information about companies that were incorporated under the Companies Act of 2016. Partnerships and sole proprietorships are examples of businesses that may have been registered under the owner’s personal or trade name, whereas firms limited by share capital are formed as either public companies (Berhad or Bhd) or private companies (Sendirian Berhad or Sdn Bhd).
The business’s company profile can be downloaded right away after purchase. The following details will be included in the corporate profile report for Malaysia:
– a synopsis of the business that includes, among other things, trade preferences and SSM data
– a synopsis of the capital structure of the company as well as its share capital.
– The business owner’s details, including personal data (this is specific to the Malaysia Business Profile Report only).
– The personal details of the board members, directors and shareholders of the company.
– Details regarding the owner’s previous and present business experience.
– Details about the associated list of firms that are part of the same company group or that are connected by family
– Information about the interests acquired through corporate property, sometimes referred to as “charge details.”
– a financial performance review of the organization based on ratios.
– Specifics about the business’s gains and dividends for the previous five years.
– Information on the company’s assets, equity, liabilities, and other financial terms for the last five years.
