A company secretary is mandatory for any private limited companies incorporated in Malaysia, as stipulated by its Companies Act 1965. Every company must appoint at least one company secretary within 30 days after the Certificate of Incorporation from the Companies Commission of Malaysia (SSM) is received.
The appointment of a company secretary, besides fulfiling a legal requirement, serves to ensure that the company adheres to corporate compliance obligations, as he or she is responsible for drafting and lodging with the authorities the necessary documents required by law. In addition to maintaining the necessary legal papers, it is also his or her duty to identify and prevent non-compliance with company policies or legal framework, as failure to do so may result in severe consequences for the company and its management. Also, a company secretary plays an important role as a liaison officer between shareholders, directors and other invested parties, ensuring that all information and development related to the company is accurately conveyed in a timely manner, and mediating any differences that may arise.
Company Secretary Services
As a company secretary plays a crucial role in keeping the company in compliance with Malaysia’s business regulations, and much is expected where corporate skills, experience and work ethics are concerned, hiring a company secretary KL through a reliable and prestigious company secretary services provider has many benefits compared to appointing one on your own.
Benefits of Outsourced Company Secretary Services
Professional Expertise: Having an entire team that is knowledgeable and experienced behind your company, supporting you as company secretary means duties such as:
- Board & committee meetings
- Minutes of Meetings
- Annual General Meeting of Shareholders
- Corporate Records
- Advisor to Directors
- Implementation of Directors’ Decisions
- Issuing New Shares, Stock Transfers & Dividends
- Securities Market Listings & Compliance with Listing Standards
- Compliance with Business Laws
- Liaising with Auditors, Lawyers, Bankers as and when required
will be performed with more in-depth knowledge, consistency and efficiency, and potential issues will be preempted so that compliance failure (for example, late or inaccurate submission of documents to the authorities) will not occur.
Cost Efficiency: Your outsourced company secretary KL or JB is cost-effective in the sense that, for the singular fee they charge you, they will task themselves with always being up-to-date with the new and latest regulations introduced by the Malaysian business regulatory authorities and any other necessary information or procedures they need to take to keep your company in good compliance with the authorities.
Responsibility and Reliability: As a professional team outsourcing their skills and expertise, they will not only perform the due diligence a company secretary services provider, but also provide feedback and advice on ways to improve your business operations responsibly and reliably, where appropriate and necessary.
Minimal Risk: An experienced company secretary KL provider has an established, organised system in place to carry out all administrative and compliance-related duties required of them. Therefore, the risk of penalties or being blacklisted by the government due to late lodgement or inaccurate submission is greatly reduced.