Frequently Asked Questions
Company Formation in Malaysia
Company Formation in Malaysia
What is Company Secretary?
Who can be a Company Secretary?
Yes, how and where do I form a business in
Malaysia?
What is the requirement to become Directors,
Subscribers and Secretary(ies)?
What is Company Secretary?
A Company Secretary is a professional whose role
in a corporate set up in that of an advisor for legal matters. He or
She is a very important member of the Company’s Management.
A Company Secretary has been recognized by corporate law as one of
the officers of the Company. The knowledge that he or she acquires
during training makes them versatile enough to carry out functions
in various areas like Finance, Accounts, Legal Administrations and
Personnel Division.
In large and medium size business organizations, a company secretary
role includes incorporation of companies, processing applications
for management appointments, remunerations, inter-corporate
investment and loans, handling public issues including listing of
shares and debentures, conducting both board and general meeting,
maintenance of records, registers and minutes of the meetings. In
short, it would suffice to say that all legal and procedural matters
as per the Companies Act, 1965 and all other applicable laws fall
under the duties of a Company Secretary.
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Who can be a Company Secretary?
Every company shall have one or more secretaries, each of whom shall be a natural person of full age. With effect 10th September 1992, NO PERSON shall act as a company secretary to a company unless:-
- He is a member of a professional body, or any other body, which has for time being prescribed by Minister or;
- He is licensed by the Registrar of Companies.
Any person who contravenes the above requirement
shall be guilty of an offence against the Companies Act, shall be
liable to a penalty not exceeding Ringgit Malaysia five thousand
(RM5,000.00).
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Yes, how and where do I form a business in Malaysia?
A person who intends to setup and do business in
Malaysia must first register a business firm or incorporate a
company with the
Registrar of
Companies (or Suruhanjaya Syarikat Malaysia). In
order to enable AITLAU to
incorporate your company in Malaysia, you need to appoint a licensed
Company Secretary by virtue of the Companies Acts, 1965, to perform
the incorporation.
A registered company is a company incorporated or formed by
registration under Companies Acts, 1965. The incorporation is
administered by the
Registrar of
Companies (or
Suruhanjaya Syarikat Malaysia).
Both registrations come under the jurisdiction of the Ministry of
Domestic Trade And Consumer Affairs.
AITLAU Management Services is a
qualified Company Secretary that provides professional services of
company and business registrations.
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What is the requirement to become Directors, Subscribers and Secretary(ies)?
A Statutory Declaration is required of every
proposed directors and subscribers (Form 48A) of the proposed
company. A director must be of major age and must have his principal
or place of resident in Malaysia. A company must have at least two
directors named in the Articles of Association of the proposed
company, and two subscribers to the Memorandum and Articles of
Association of the proposed company. At least one secretary of a
company shall be named in the Articles of the proposed company (Form
6).
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