Why do you need a business secretary in Malaysia?

Why Do You Need a Business Secretary in Malaysia Investingyour money and your time in setting up a business in Malaysia is a great idea. Malaysia has positive economic growth and a stable political spectrum. This condition is probably conducive to a progressive business atmosphere. However, like its neighboring ASEAN countries, Malaysia has a strict role with respect to individual ownership or partnerships of a corporation by foreigners. Foreigners are allowed to work in this company only if they have the permanent residence called PR or join the program Malaysia My Second Home. 

In addition, foreigners must cooperate with some national parties, including at least one accredited corporate secretary or secretarial firm, under section 139 of the Companies Act 1965. The role of a corporate secretary in Malaysia is changing today as legislation and collaborations between companies evolve.

Duties of Corporate Secretary in Business Registration

People classified in large companies usually have their own secretarial office that handles all legal matters on behalf of companies. It differs from small and medium-sized enterprises or SMCs that typically engage with an external secretary of the secretariat cabinet to handle all secretarial matters. A corporate secretary plays an important role as intermediary between government departments and foreign business owners. He / she has heavy responsibilities and great power in the company. This is how the secretary general does his work for society.

Assistance in setting up a company with Suruhanjaya Syarikat Malaysia (SSM) Malaysia

Member of the executive or secretarial department of the associated company

To be present or represented at company meetings

Conduct of general meetings and board of directors

Keeping logs of registers and minutes of company meetings

Adopt a positive attitude in cooperation with government authorities / regulatory bodies

Assist the administrators to ensure the effectiveness of the internal control system for the maintenance of registers and registers

Advise the Board of Directors that there is no policy in conflict with stakeholder interests

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Needs of a Secretary General in Malaysia

Due to the abundance of responsibilities and authority that this position would have, the approval of the Secretary General is strictly regulated as of September 10, 1992. The requirements are as follows:

A person of full age (18 years or older)

Has a professional license issued by the Registrar of Companies

Be a member of a professional body or cabinet designated by the Minister

At a place of residence in Malaysia

In accordance with the code of ethics, a corporate secretary must also develop corporate governance standards and inculcate professionalism and efficiency in the performance of his duties with or without fellow secretaries. Actions must be based on basic principles; It is the integrity, the responsibility, the sincerity and the social responsibility of the company. The presence of a company secretary is essential not only out of necessity, but also for the improvement of the management process of a company.