Hiring a Company Secretary in Malaysia
In Malaysia, the term secretary may conjure up various images such as answering phones in addition to managing appointments. However, the role of a company secretary is different. An individual is considered a secretary at the firm when they share legal duties with company directors, and some special tasks are accorded to them on a personal level. Limited companies no longer find it necessary to appoint a secretary.
However, most organizations continue to elect these candidates to fill an essential administrative role. So, who is a company secretary, and how can an organization acquire one? Extensively speaking, a company secretary refers to the head cheerleader of the administration segment of an organization, given responsibilities alongside the business’ board of directors under the Act of Companies.
Appointing a Company Secretary
The board of resolution appoints a company secretary. Prior to the appointment, members of the committee must endorse the existing terms as well as conditions of the election. The firm’s secretary has to issue a written consent based on the role. If the candidate is appointed, details of the election must be presented to the key managerial personnel as well as the registrar of companies. This information should be submitted to the departments in 30 days. When selecting the secretary, an organization should ensure that the candidate has a clear understanding of their obligations and roles.
Primary Roles of a Company Secretary
A company secretary oversees the effective administration of the firm, especially concerning various compliance aspects. One must also keep the board members informed of any existing legal responsibilities. Other than that, a company secretary represents the firm for legal documents while ensuring that the organization and its board of directors operate in a specified framework.
Why Should an Organization Hire a Company Secretary?
One of the most accessible routes, of course, is hiring a permanent secretary when the business has undergone incorporation. Nonetheless, outsourcing the position to an experienced company secretarial provides more benefits, mainly when conducting business in a strict environment such as Malaysia. Limited companies in Malaysia are required by law to hire at least one experienced company secretary. The candidate should be a resident in Malaysia. An organization should hire one for the following reasons:
Avoiding Late Submissions
Every year, a company is required to present its annual return to the registrar of companies. If the report isn’t submitted on time, the organization may be fined. A company secretary ensures that the yearly return report is submitted on time.
Receive Immediate Administrative Assistance
A company secretary is responsible for offering administrative services. If an organization needs its tasks to be handled in a hurry, a secretary will be the most dependable partner when needed. Hiring an experienced service provider saves the organization the hassle of searching for administrative assistance.
A company secretary is tasked with filing yearly returns alongside other documents on an annual basis. One is also responsible for convening existing board meetings as well as additional administrative matters affecting the performance of the firm. Following the involving nature of the tasks, the person, an organization, picks as the company secretary needs to be organized, motivated, as well as have an in-depth understanding of the firm’s internal workings and legal duties.
Questionnaires:
Who can be a company secretary in Malaysia?
The company secretary must be 18 years old with residence in Malaysia and must be either a member of a professional body approved by the Ministry or a licensed secretary granted by the Companies Commission of Malaysia (SSM Malaysia).
What are the duties and responsibilities of a company secretary?
A company secretary is a key advisor to the board of directors on matters of corporate governance and their duties.
What are the qualifications of a company secretary?
A company secretary requires specialized knowledge on the professional secretarial matter.
— — — — — — — — — — — — — -
Contact for company secretarial service:
Email: info@sfconsulting.com.my
Phone: +601136901890, +601126476182 (WhatsApp, Viber, IMO available)
Office Address: A-03–13 Tropicana Avenue, No 12 Persiaran Tropicana, Tropicana Golf & Country Resort PJU3, 47410 Petaling Jaya, Selangor, Malaysia
