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Frequently Asked Questions
Why do I need a company secretary in Malaysia?
Under the Companies Act 2016, all private limited companies (Sdn. Bhd.) in Malaysia are legally required to appoint a qualified company secretary within 30 days of incorporation. A company secretary ensures compliance with legal and regulatory requirements, maintains statutory records, and submits necessary filings to the Companies Commission of Malaysia (SSM).
What are the responsibilities of a company secretary?
A company secretary plays a crucial role in corporate governance and compliance. Their key responsibilities include:
✔ Maintaining statutory records (e.g., register of members, directors, and shareholders).
✔ Filing annual returns and financial statements with SSM.
✔ Preparing board resolutions and meeting minutes.
✔ Ensuring compliance with the Companies Act 2016.
✔ Providing corporate governance advice to directors and shareholders.
✔ Maintaining statutory records (e.g., register of members, directors, and shareholders).
✔ Filing annual returns and financial statements with SSM.
✔ Preparing board resolutions and meeting minutes.
✔ Ensuring compliance with the Companies Act 2016.
✔ Providing corporate governance advice to directors and shareholders.
Can I change my company secretary if I am not satisfied with their services?
Yes, you can change your company secretary at any time. The process involves:
1️⃣ Appointing a new company secretary by passing a board resolution.
2️⃣ Submitting a resignation letter from the outgoing company secretary.
3️⃣ Filing the necessary documents with SSM to update the company's records.
At DSY Advisory, we make this transition smooth and hassle-free for business owners.
1️⃣ Appointing a new company secretary by passing a board resolution.
2️⃣ Submitting a resignation letter from the outgoing company secretary.
3️⃣ Filing the necessary documents with SSM to update the company's records.
At DSY Advisory, we make this transition smooth and hassle-free for business owners.
What happens if my company fails to comply with statutory requirements?
Non-compliance can lead to penalties, fines, or even the striking-off of your company by SSM. Some consequences include:
⚠ Late filing penalties for missing deadlines on annual returns or financial statements.
⚠ Directors being held personally liable for non-compliance.
⚠ Company de-registration (struck off) for prolonged non-compliance.
A reliable company secretary helps you stay compliant and avoid these risks.
⚠ Late filing penalties for missing deadlines on annual returns or financial statements.
⚠ Directors being held personally liable for non-compliance.
⚠ Company de-registration (struck off) for prolonged non-compliance.
A reliable company secretary helps you stay compliant and avoid these risks.
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