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Corporate Secretarial Services in Malaysia2021-06-18T13:25:46+08:00

The importance of Corporate Secretary: Things you need to know

A Company Secretary is a professional that handle all paperwork’s, statutory documents and procedural matters that running of the company involves.

They are expected to keep the directors adequately informed about the developments of the company. In addition, they are also expected to maintain an effective internal control system that ensures proper maintenance of details related to statutory registration and the company’s record books.

The answer to your company secretary questions

Here are some tips and advice you can refer in hiring your next potential Company Secretary.

What are the core duties of a Corporate Secretary?2021-06-04T21:23:18+08:00

They should be well-versed with the following,

  1. Duty in relation to registered office and registers to be present at the registered office of the company, maintain registered and provide statutory documents.
  2. Duty to act honestly and use reasonable diligence in managing the meetings and resolutions or advising of statutory and governance requirements.
  3. Duty as reporting institutions to comply with Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
  4. Duty as member of approved body to upkeep their practising certificate and to engage in Continuing Professional Education.
  5. Duty relating to practicing certificate in acting in his capacity as a secretary.
What should I look out for when appointing a Corporate Secretary?2021-06-04T21:20:55+08:00

The candidate should meet the following criteria;

  1. A natural person
  2. 18 years old and above
  3. A citizen or permanent resident of Malaysia
  4. A person holding required license, qualification or practicing certificate
  5. Highly knowledgeable and hold a keen interest in company law and governance.
  6. Keen eye for detail
  7. Work well with people from all levels.
  8. Write clearly and fluently.
  9. Adept at processing high volumes of information.
  10. Trustworthy, as the user will be handling a bunch of confidential documents.
  11. Residing in Malaysia.
  12. … and more

There are more factors to take note when looking for one and you can refer to them over here.

Do I need a Corporate Secretary for my company?2021-06-04T21:17:16+08:00

Yes, it is mandatory to appoint a Corporate Secretary under the Companies Act 2016. Every company should have at least one Corporate Secretary.

The Double Tax Treaty is an avoidance of double taxation agreement between whom and what is its purpose?2021-06-07T21:21:31+08:00

Double Tax Treaty is an agreement between governments and not states or counties or provinces with the purpose of avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income.

Can shares be transferred to previous owner of the same shares?2021-06-07T20:07:10+08:00

There are no restrictions regarding the ownership of shares by someone who has previously owned the same shares of the same Sdn Bhd company. Therefore, shares of a Sdn Bhd company can be transferred to a previous owner of those same shares. Of course, the final outcome of such a share transfer, as is the case with any other share transfer, is dependent on the consent of the existing owner of the share.

Is there a limit to how many shares can be transferred at once?2021-06-07T20:02:14+08:00

A shareholder cannot transfer an unlimited number of shares. This is because there must be a limit to how many shares are available to be purchased. When any company in Malaysia first commences its business operations, it will issue a certain number of shares. Therefore, the number of shares transferred by the shareholder can exceed neither the number of shares held by the individual who is transferring the shares or the company.

Are all companies in Malaysia required to hold EGMs?2021-06-07T20:09:04+08:00

In Malaysia, there is no statutory requirement for any company to hold any extraordinary general meetings (EGMs). Only annual general meetings (AGMs) are legally required to be held according to the latest edition of Malaysia’s Companies Act.

However, this lack of legal requirement regarding EGMs might not necessarily extend to certain companies. This is the case because such companies have stipulations regarding the holding of EGMs within their company regulations or Articles of Association. Such stipulations may sometimes require the company to hold an EGM at certain points. Any such stipulations are required to be followed unless they are amended at any point. In this regard, the holding of an EGM differs from the holding of an AGM in Malaysia because a company must hold an AGM even if it not bound by stipulations contained in its Articles of Association.
The Companies Act contains further information related to the holding of AGMs and EGMs in Malaysia.

Can Business Entities other than Sdn Bhd Companies be struck off or wound up?2021-06-07T20:10:53+08:00