Does My Company Need A Company Secretary?
All registered companies in Malaysia require at least one licensed company secretary as it is a legal requirement under the Companies Act.
If you are going to incorporate a business in Malaysia (or if you’ve already incorporated one), you might hear the word “Company Secretary” thrown around quite a bit.
But this then begs the questions, “Does my company need a company secretary?”
At first, when you start your business, you might think that you don’t need one and you can get everything done yourself. “It’s more cost-effective this way,” you think to yourself.
However, bear in mind that hiring a company secretary (and the right one), is a legal requirement for proper companies in Malaysia. Employing a company secretary can not only help you manage your business a lot easier but also improve your company in the long run.
Is A Company Secretary Needed For Your Company?
In Malaysia, if you are incorporating a Sdn Bhd company, it is legally required for you to have a Company Secretary.
The Malaysian Companies Act 2016 under Section 235(1) states that a Sdn Bhd company shall have at least one company secretary with the following qualifications:
- A member of a body as set out in the Fourth Schedule; or
- A person licensed by the Companies Commission of Malaysia (“Commission”) under section 20G of the Companies Commission of Malaysia (Amendment) Act 2015.
You can read more of these requirements here:
Having now known that it is a requirement by law to have a company secretary, you’ll understand why it is important to have one for your company. This role is vital and should not be taken lightly and should be entrusted to someone who is not only qualified to carry out the duty of a company secretary, but also someone who is well-experienced.
So you see, it is not something that you can do yourself.
Well Then, What Is A Company Secretary?
Their responsibilities span across many areas in the company, we wrote an article on the duties of a company secretary which you can read here.
However, most people think that company secretaries only carry out secretarial duties but this is not the case. A company secretary’s role is much more important and can help carry the operation of the company better.
Some of the main responsibilities of a company secretary are:
- handling and ensuring that the company meets all its statutory compliance requirements
- ensuring the board of director’s decisions are implemented
This is why the appointed company secretary must be someone who is a member of a professional body that is appointed by the Ministry of Domestic Trade Cooperative and Consumerism, or someone who is licensed by the SSM.
Simply hiring someone as a company secretary because they are good at their work is not enough, you need to appoint someone credible and certified to carry out the duties required.
Where Can You Get A Certified Company Secretary in Malaysia?
Most big companies already have an in-house company secretary as their employee. But most SMEs in Malaysia will need to outsource and employ an external company secretary as it is cost-effective and a lot easier to manage.
As you need a company secretary for your company, finding the best company secretary from a Business Administrative Service Provider in the country is vital.
So How Can MISHU Help?
Here at MISHU, we have a comprehensive Company Secretary Service that can help you with all your company secretary requirement needs.
We provide qualified secretaries who are not only well-versed with Malaysian company law and procedures but are also up-to-date with any new form of technologies and software that helps you to manage your company better.
At just RM60/month, our Company Secretary Service can help you:
- prepare resolutions
- attend board and shareholders’ meetings (physically or digitally)
- record meeting minutes
- track filing deadlines
- and attend to all your specific business needs
Now that you know why you need a company secretary, what a company secretary is, where to get a certified company secretary, and how MISHU can help, give us a call today!
The view expressed in this article is intended to provide a general guide to the subject matter and does not constitute professional legal advice. You are advised to seek proper legal advice for your specific situation.
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