All about a Company Secretary in Malaysia
Company Secretary is an administrative roles and senior position hold of a company. It is equivalent of General Manager an/ or Sr Manager position. This is good plan to jump up in quick to top position and develop career. Like other country chartered accountant, ICMA qualified members can act as company secretary as law but Malaysia is not same.
Eligible of company secretary?
Any professional qualified can not be a company secretary like other country. Only, who hold license from SSM to practice is eligible to be a company secretary. Graduate who follow instructions of SSM and pass in exam is eligible to be CS. The person who is qualified from chartered secretary can easily become company secretary. After passing exam there are other conditions like practical experience in secretarial sector for 3 years. Applicant will practice under any secretary firm for 3 years and submit a report to SSM. If SSM people are satisfied will be converted into company secretary.
Responsibility of Company secretary
- Process of new company registration
- Prepare board meeting
- Prepare AGM papers
- Notice of meeting resolution
- Stock exchange listing add the public limited company
- Follow guideline of stock exchange
- Split company shares
- Check market price
- Liaison with banks and, merchant
- Liaison with auditors
- Debenture, profit declare of shares
- Issue share certificate
- Share transfer
- Share selling
- New director appointment
- Follow SSM rules
- Share register book
These are not enough to explain about duties of a company secretary. As this is key position of a company specially for the public limited stock exchange listing companies. As multiple thousands of people buy shares of a company and frequently sell them in market. So, keeping record always secretary is responsible.
Why Company Secretary in Malaysia?
As law, every company, Sdn Bhd must appoint one secretary who is legal guardian of the company. It is punishable offence if no secretary is appointed of a company. And once secretary is hired can appoint another secretary when present one retire. Secretary perform all duties as assigned as own responsibilities. Annual return submission, register book, ledger book maintain are done by secretary. If any company face problems let did not submit annual report will be financially penalized in Ringgit 50000 and above. It is a n offence if return is not submitted whether start operation or not. To register new Sdn Bhd company, secretary must hire to proceed to SSM.
Fees of company secretary
To hire a secretary is costly, Ringgit 5000-8000 or even more along with other facilities. You can check with secretarial firm to hire secretary for your company as part timer. When need any services will be executed by financial Terms and conditions. In case of part time secretary cost in Ringgit 1000 per year. By this one year you can take all services with free of cost apart from government fees. Never contact Flying secretary whom you never meet and get easily to speak with. Many consultancy firms offer secretary services, but they never hire permanent secretary. Flying secretary provide services for others is poor quality of services.
Who can contact for secretary service?
You are recommended to contact S & F Consulting Firm as they provide real secretary services for their customers. They have own license secretary in office to provide services for others. This not cost effective plan to take secretary services from S & F.