Corporate Secretary in Malaysia

Regulatory Compliance

A Corporate Secretary ensures the company adheres to local laws and regulations, particularly the Malaysia Companies Act 2016. They oversee statutory filings, maintain necessary records, and ensure timely compliance with legal obligations, safeguarding the company from potential legal penalties.

Corporate Governance

They play a key role in enhancing corporate governance by advising the board on its duties, governance practices, and ethical conduct. This guidance helps foster transparency, accountability, and informed decision-making within the company.

Effective Administration

The Corporate Secretary facilitates the smooth operation of board and general meetings, manages shareholder communication, and ensures the proper execution of board decisions. This organisational role is crucial for the efficient management of corporate affairs.

Stakeholder Communication

Acting as a liaison between the company and its stakeholders (including shareholders, regulatory bodies, and the public), the Corporate Secretary ensures effective communication channels are in place. This role is vital for maintaining positive relations and trust with stakeholders.

Guardianship of the Company Constitution

By overseeing its constitution, the Corporate Secretary ensures that its operations and policies align with its governing document. This includes advising on amendments and helping to interpret its provisions, thereby guiding the strategic direction and integrity of the company’s governance structure.

Board Meetings

Corporate secretaries manage the administrative aspects of board meetings. This includes preparing agendas, attending meetings to take minutes, and ensuring proper circulation and storage of these minutes for future reference. Additionally, they track action items assigned during meetings and follow up with directors to ensure their completion.

General Meetings (AGM & EGM)

They draft and issue notices for Annual General Meetings (AGM) and Extraordinary General Meetings (EGM) in accordance with legal requirements. These notices provide clear information about the meeting’s purpose and relevant details for shareholders. Furthermore, they handle logistical arrangements for the meetings and ensure proper voting procedures are followed during the event.

Company Constitution

Corporate secretaries are responsible for maintaining the company’s constitution, also known as the Memorandum and Articles of Association (M&AA). This involves keeping the document up-to-date with any amendments approved by shareholders and ensuring its compliance with the Companies Act 2016.

Communication and Record-Keeping

They facilitate communication between the board, shareholders, and regulatory authorities. This ensures all parties receive timely and accurate information. Additionally, corporate secretaries maintain comprehensive records of company decisions, meetings, and resolutions, creating a clear historical record for future reference.

Do you offer outsourced corporate secretarial services?

Yes, our secretarial firm provides outsourced corporate secretarial services in Malaysia, helping businesses manage compliance and governance efficiently. Our team ensures your company meets all requirements set by the Companies Commission of Malaysia (SSM).

How much do corporate secretarial services cost?

Our corporate secretarial firm offers flexible packages based on company size and service needs. Monthly secretarial packages start from RM80, with additional fees for specific services such as annual return filings, preparation of financial statements and drafting of resolutions. Contact us for a customised quote tailored to your business needs.

How easy is it for a foreigner to start a business in Malaysia?

Starting a business in Malaysia as a foreigner is relatively straightforward with the right guidance. Foreigners with valid residency can be the sole director of a private limited company (Sdn Bhd). However, opening a corporate bank account may require additional documentation and longer processing due to stricter due diligence. Engaging a professional company secretary helps simplify the registration process and ensures full compliance with Malaysian regulations.

Is it mandatory for a company secretary in Malaysia to be locally based?

Yes, it is mandatory. Under the Companies Act 2016, every company in Malaysia must appoint at least one licensed company secretary who is a resident of Malaysia. This ensures proper fulfilment of statutory duties and effective communication with the Companies Commission of Malaysia (CCM).

What are the required qualifications for company secretaries in Malaysia?

Under the Companies Act 2016, company secretaries in Malaysia must meet specific qualifications to ensure proper governance and compliance. A company secretary must be an individual aged 18 or above, who is a citizen or permanent resident with a principal place of residence in Malaysia. They must also hold a valid license issued by the Companies Commission of Malaysia (SSM) or be a member of a prescribed professional body.

What does corporate governance mean?

Corporate governance refers to the framework of rules, practices and processes that guide how a company is managed and controlled. It ensures accountability, transparency and ethical decision-making, helping the company act responsibly toward its stakeholders, including directors, shareholders, employees, customers and the wider community.