Why Do You Need A Company Secretary in Malaysia？

A company secretary is an officer of a company who is responsible for ensuring that the company complies with legal and regulatory requirements and for ensuring that the company’s corporate governance is effective.

Pursuant to Section 235 of the Companies Act 2016, every company incorporated in Malaysia must have a company secretary. The role of a company secretary is crucial as they are responsible for ensuring that the company complies with legal and regulatory requirements. Some of the reasons why you need a company secretary include:

1. Compliance: Ensuring that the company complies with all applicable laws and regulations, including corporate law, securities law, tax law, and employment law.
2. Corporate Governance: Ensuring that the company follows best practices for corporate governance, including maintaining accurate records, overseeing the conduct of board meetings and annual general meetings, and ensuring that the company’s constitution and bylaws are up-to-date.
3. Communication: Acting as the primary point of contact between the company and its shareholders, ensuring that all communication is clear, transparent, and timely.
4. Administration: Providing administrative support to the board of directors, including preparing and distributing meeting agendas, recording minutes of meetings, and ensuring that all documents are properly filed and stored.
5. Risk Management: Identifying and managing risks to the company, such as financial, legal, and reputational risks, and advising the board on how to mitigate these risks.

In some jurisdictions, a company secretary must be a qualified professional, such as a lawyer or accountant, while in others, anyone can be appointed as a company secretary. In Malaysia, a company secretary must be a member of a professional body recognized by the Minister of Domestic Trade and Consumer Affairs.

Conclusion

All companies are required to appoint a company secretary to carry out various functions related to running the company and keeping the company in compliance with the Companies Act and related by-laws. A Company offers a wide range of company secretary services in Malaysia, you may call us at +6011 63301316, drop us a message on WhatsApp, or send us an email via [email protected].