Malaysia Corporate Secretarial Services

 

Company Secretarial Service in Malaysia

Every company cannot only be concerned with making a significant amount of profit within its present business environment. Adherence to the law, proper corporate management practices, and corporate social responsibility also contribute to the well-being of business environment. These can be promoted through the use of services provided by a company secretary.

In Malaysia, it is a legal requirement for a company to appoint a person who will serve as its company secretary. Such a person is required to be a qualified person as defined by the 2016 Companies Act of Malaysia. Each company has to select a person who will be appointed as a company secretary before commencing any business operations in Malaysia.

On that note, it could be the case that your company is in need of a suitable company secretary. Should such happen to be the case, we at Paul Hype Page & Co will select a capable and qualified person who will take this role in your company. In this way, you will be able to devote more time and attention to the growth and development of your company as your new company secretary manages all other important company details.

Company secretaries in Malaysia, just as is the case elsewhere, provide a large variety of services for companies which require them. Of these, the most important service provided by a company secretary is that of assisting in the registration of a Malaysia-based company with the Companies Commission of Malaysia (SSM). If any entrepreneur wants to set up a firm in Malaysia, all specifications which have been mentioned by SSM must be followed. In addition, the secretary of the company to be registered is also tasked with the management of all documents which are required for SSM registration.

Company Secretarial Services

Company secretarial services in Malaysia include but are not limited to the following: maintenance of books and minutes for the purposes of registration, safekeeping of the common seal of the company, monitoring and ensuring of compliance with the business laws in force in Malaysia today, printing and distribution of notices and other important company documents, management and distribution of all official mail received by the company, management of emails and email alerts for the purposes of legal compliance, filing of returns with SSM, providing documents for the application for one or more business licenses, providing advice related to business licenses, and ensuring that the company adheres to all existing guidelines on matters related to taxation, auditing, and accounting.

 

Company Secretary Service Fees in Malaysia and in Other Countries

No matter where the location in which company secretary services are performed, the fees which are charged are dependent on the complexity and importance of the services which are performed. In Malaysia, the fees to be paid can be as little as approximately RM50 for the filing of statutory forms to as much as around RM1,000 for the preparation of an Extensible Business Reporting Language (XBRL) report which is to be submitted to SSM via the use of the Malaysian Business Reporting System (MBRS) portal.

Just as is the case in Malaysia, Hong Kong’s company secretary services are required before a company may begin operating in Hong Kong. The least expensive company secretarial services in Hong Kong are those regarding application for a trade name, registration of a branch office, application for dormant status, creation of a written resolution for an annual general meeting, and the preparation of a Significant Controllers Register. The fees for each of these tasks are around HK$500. At the other end of the scale, it costs approximately HK$1,900 for a change of company name; this fee includes articles of association, share certificates, a new common seal, certain government fees, and other costs.

Corporate secretarial services are also a legal requirement in Singapore prior and during the operation of a company there. The corporate secretarial service in Singapore which is typically the least expensive is that of changing directors, company secretaries, or the registered office address. These services usually cost around S$100 each. However, the compilation of unaudited financial statements is significantly more expensive; this will usually cost an amount close to S$1,200.

After currency conversion, one can clearly see that in general, company secretary services in Malaysia are more expensive than those of Hong Kong but less expensive than those of Singapore.