When you start your business, you might not know when you need a company secretary. It might seem that you don’t need one when you start the company because you might think that you can do it yourself at first. You might not even know what a company secretary does in the first place.
We are going to outline the role, explain what they do and how you can go about choosing your own company secretary that will improve your company.
So do you actually need a company secretary?
In Malaysia, if you are a proper company, e.g. a Sdn Bhd, it is a legal requirement to have a company secretary.
According to the Malaysian law under Section 235(1) of the Companies Act 2016, a 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.
If it is required by law, you know that having a secretary is extremely important for your company. The role should not be taken lightly and instead you should look for someone that is completely reliable and trustworthy.
The bottom line is that you would definitely need a company secretary for your company in Malaysia.
What Should Your Secretary Do?
Besides the normal, basic things that a secretary does, they would do all the important tasks that are required by the Malaysian government. Some of the tasks include :
- Preparing and presenting your statutory returns.
- Plan and present your annual returns after each financial year.
- Handle stakeholders and any shares changes in the company.
- Any changes with regards to share holders or stakeholders.
- Sending in EA forms to SSM
- To ensure compliance to procedural systems for appointments of directors and assisting in new introductions of new directors.
- Assists in company mergers, company interests and ensuring in due diligence activities that can only be done by a non-biased party.
How To Find The Best Company Secretary
- You need to make sure that anyone you hire to be your company secretary would need to have the exact qualifications that are needed to create and submit all the necessary documents.
- They need to be up to date with all the new qualifications that SSM or the Malaysian government would come up with every year.
- They need to be MBRS certified. MBRS is the new reporting system that SSM created to ensure that it will be easier for companies to submit their annual financial returns and EA forms.
Excellent Management Skills
- Your secretary needs to have management skills that are top notch.
- They need to be able to handle multiple streams of information and be able to put them together to be understandable and understood by everyone in the company.
- They would need to be able to manage multiple stakeholders and ensure that everyone is taken care of.
Great Computer Skills
- As a secretary, they would need to have excellent computer skills to ensure that they can keep up with all the documents and etc.
- In addition to that, they would also need to be good at using the computer to keep up with the new softwares that the Malaysian government is coming up with to send in reports.
- An example of this is the Malaysian Business Reporting System.
In Malaysia, you will definitely need a company secretary and it is up to you if you want to outsource them or hire one to head up the department in your company.
If you want your company secretary to be MBRS certified, head on over to this link to get them certified today.