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Guide to Form A Company in Malaysia

FAQ's all about to Form a Company

Responsibility of a Company Secretary in Malaysia

company secretary

Gone are the days when company secretaries were given light duties and viewed as underdogs in the company. Nowadays, secretaries have been delegated with greater responsibilities and more power since they are viewed as the heart of the company. That said, company secretaries are expected to be ethical at all times owing to the magnitude of the duties they undertake.

What is the company secretary responsible for?

Every company registered as a Private Limited (Sdn.Bhd.) are required to appointment one Company Secretary. This Company Secretary (also know as Corporate Secretary) is not your usual staff in the office. The roles and duties of a Company Secretary in Malaysia are defined in the Secretary Association, with whom licenses are governed and regulated  by the Company Commission of Malaysia.

Here are some of the responsibilities of the company secretary.

  • Professionalism and competence

The company secretary is expected display professional skills and proficiency when performing their duties and must be licensed by the SSM.

  • Company Formation and Registration

When you have decided to register a company in Malaysia, you will need to engage the service of a company secretary to help you to complete the company registration process.

  • Maintenance of Statutory Registration and Record Books

Owing to the frequent contact with the top management, the company secretary is expected to keep the directors updated on the developments of the company. In addition, they are expected to maintain an effective internal control system that ensures Statutory Registration and Record Books are well kept.

When you have decided to register a company in Malaysia, you will need to engage the service of a company secretary to help you to complete the company registration process.

  • Ensure the company complies with legislation

The company secretary should ensure that all laws and regulations governing the company are adhered to. Moreover, they should see to it that the laws of the land are also followed.

  • Preparation of Resolutions, Organising Board Meetings of Directors

In company Board meetings, the company secretary should be available. If they are not able to make it to the meeting, they should find representatives to sit in on their behalf. Additionally, the company secretary should not allow themselves or their representatives to be left out in the company meeting since it would jeopardize their duties and responsibilities for the preparation of resolution and meeting minutes as the company secretary.

  • Instill integrity in the company

Considering that the company secretary reports to the senior management and is accountable for all the operations in the company, the company secretary should always report in case they notice a problem. They should always stand for what is right without fear or favor.

 

Conclusion

It is evident that all companies established in Malaysia are required to have at least one Company Secretary (Corporate Secretary ) and that company secretary must be a natural person and a resident in Malaysia and is a member licensed by the SSM.

 

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