CoSec Services for Sdn. Bhd./ Berhad

Person-in-charge:

The CoSec services (公司秘书服务) are as follows:

1. Incorporation of a New Company Sdn. Bhd. @ RM 2,162.40 (inclusive of SST);

2. Preparing minutes (AGM, EGM, opening of current bank accts and minute’s book);

Why EGM or AGM is extremely important for a company? The Need of EGM

3. Acting as Corporate Secretary, administrative of a whatapps or telegram chatroom and communication with shareholder- through circulars;

4. Safekeeping of Company Common Seal;

5. Ensuring compliance to Companies Act,  2016 and Income Tax Act;

6. Striking of a Company range from RM 1,000.00 to RM 1,400.00(inclusive of doing accounts, closing of bank accts, documents preparation,submission to SSM & LHDN & follow up on the strike-off letter)

7. Company striking-off (Updating LHDN, Banks & SSM) from RM 1,200.00;

8. Company & Business Name Search (RM 100.00) or Change of Company Name (RM 400.00);

9. Registered Office and open for public as per compliance by SSM (Mon- Fri and from 8.30 a.m. to 5. 30 p.m.);

10. Keeping of Statutory Records (annual report, accounts and company registration file);

11. Filling of Annual Returns (RM 250.00);

12. Allotment of Ordinary Shares & Preference Shares and Shares Transfer from RM 200.00 for the 1st & 2nd allotments;

13. Change or updating of Business Nature, Business Address and updating of CoSec (RM 100.00);

14. Change of Object Clause (RM 100.00);             

15. Monthly CoSec Retainer fees  (RM 70.00 monthly) @ RM 840.00 per annum where we will invoice quarterly;

16. Submission of Annual General Meeting & Financial Statements to SSM @ RM 350.00;

      (A sample of SSM compound letter in PDF Version: SSM Compound Letter)

17. For just rental of business address at Ipoh @ RM 40.00 monthly where can receive your letters or parcel on behalf and professional receptionist in call answering;

18. To be sit in with directors for Extraordinary General Meeting (EGM) or Annual General Meeting @ RM 250.00/ hour;

a. Before the AGM :Sending out of registered post of company’s AGM or EGM and annual reports; 
b. During the Meeting and inclusive of: registrar at meeting, execution of dividend processing, share splits, bonus shares, registrars at meeting,confirming voting rights and results.

19. Providing CTC to company registration documents at RM 20.00 per set;

20. Printing of SSM docs like Company’s Corporate Profile : Sample Company Profile CTC(1) from MyData; professional charges @ RM 30.00 per set not including the charges from SSM;

21. Corporate Governance where to assist directors in implementing good CG towards in managing the company;

22. SSM Compliance AGM & Audit Reminders where we will send to our respective clients in reminding them the datelines;

23. Preparation of Solvency Statement at RM 100.00;

24. Preparation of Dividend Resolution & Voucher at RM 100.00;

25. Site visit with consultation at RM 250.00 per-hour excluding out-of-pocket expenses;

26. Pocket common seal with 5 red seals at RM 137.80;

27. Courier services to receiver’s doorsteps start from RM 15.00 and pick up at sender’s doorsteps services (depending on the parcel’s weight);

28. Crystal Company Chop with Self-Ink at RM 97.80;

29. Clipper Plate at RM 77.80 ;

30. Common Seal Plate at RM 77.80 per set;

31. Printing of MyData information:

a. Company profile @ RM 45.00

b. Particulars of Directors/ Officers @ RM 55.00

c. Particulars of Share Capital @ RM 55.00

d. Particulars of Company Secretary @ RM 55.00

e. Particulars of Registered Address @ RM 55.00

f. Particulars of Shareholders @ RM 55.00

g. For all CTC copies from SSM, SSM will charge additional RM 15.00

32. Generating of CTOS Lite Report @ RM 80.00 per report.

 (CTOS provides individuals with their credit reports that detail their credit history for the past 24 months, legal proceedings, company ownership and directorship, and even testimonies from companies that they have business dealings with.)

Remarks:

-All professional fees are subject to SST Charges and out-of-pocket expenses like stationary and travelling charges.                              

Monthly CoSec Retainer fees are for:

1. According to Companies Acts 2016 Section 235 (1) each and every Sdn. Bhd. (private limited company) has to have at least one qualified company secretary. Thus the RM 70.00 monthly is for the appointment of the company secretary.

2. Inclusive for the fee for updating of company’s statutory record which is available for audit by auditors or SSM as such register of members, register of directors, managers or CoSec and register of charge.

3. To maintain of CoTax whatapps chatroom in supporting queries on CoSec and Tax matters.

4. The RM 70.00 monthly inclusive of the fee for having our office address as registered office. It’s a requirement under the Companies Acts 2016 to have a registered office which having the function of:

i. To be available anytime for communications, visits & notices between authorities and registrar;

ii. It is open & accessible to the public during ordinary business hours;

iii. The inclusive of the fee for updating of the company statutory record from time to time. For example register of members, register of directors, manager and secretaries, register of charges etc;

iv. Whatapps chatroom support from time to time to advice our clients for CoSec related issues;

v. Special discount with RM 60.00 monthly if the client made one year advance payment to us with the amount of RM 720.00 (RM 60.00 monthly X 12 months);

vi. Professional receptionist for the Company inclusive the works of receiving, courier and email.

vii. To assist estate executor in distributing the will of the estate in case the death of a member or director.

viii. To secure company’s on-going concern in case of any mishaps happens.

The documents in keeping at the Registered Office according to Section 47 (1):

Question: What is Registered Office?

Answer: A company shall at all times have a registered office in Malaysia where all communications, notices & resolutions may be addressed where certain registers & documents are KEPT.

1. Notice of registration issued under Section 15;

2. The constitution of the company (if any): Section 47 (1) (b);

3. Company’s certificate given under CA 2016 : Section 17;

4. All register documents, books, records and registers as required under CA 2016 Section 47 (1) (k), Section 47 (1) (d);

a. Register of substantial shareholders: Section 144 (2);

b. Register of directors, managers and secretaries : Section 57 (1);

c. Register of members and the voting shares : Section 54 (1) & Section 56 (1);

d. Register of Directors’ shareholdings : Section 59 (1);

e. Register of Debenture holders and trust deeds : Section 60 (1);

5. Minutes of all meetings members, communications and resolutions of members: Section 47 (1)(e);

6. Copies of all financial statements and group financial statement Section 47 (1) (h);

7. Accounting records of the company which required under Section 245;

8. Minutes of all meetings & resolutions of the Board, committees of the Board & members Section 47 (1) (g);

9. Copies of all instruments creating or evidencing charges as required under Section 47 (1) (j);

10. Keeping of Annual Return of local and foreign companies: Section 68 (3) & Section 576 (2);

11. Instrument of Transfer of Shares : Section 105 (1);

12. Directors service contract: Section 232 (2);

13. Instrument of appointing of proxies in attending AGM: Section 334 (3);

14. Appointment of Auditors: Section 264 (5);

In Malaysia, incorporation means creating a new company where it is recognized as a legal business entity and is protected under the Malaysian Companies Act 1965 or the the CA 2016.

Incorporating of a company (Sdn. Bhd.) has numerous of benefits which are:

i. Separating between owner and the company.

Owners/shareholders/ directors or managers now having peace of mind in doing their business as his personal assets are safeguarded against the lawsuits or claims from creditors; from example, if the company goes bankruptcy, it is only limited to the amount of investment into the company but not the personal assets of the owners.

ii. Working capital raising through sale of shares.

Owners can raise working capital through the selling of ordinary or preference shares at promised yearly dividends.

iii. Business’s sustainability.

The business can withstood generations and almost at “infinity” stage where it’s existence is not affected by death of it’s directors, managers, shareholders or even managing director as the shares can be easily transferable through legal procedures.

iv. Credit scores.

It is a norm when owners are to get business loans from bank and the good news is the company can build a separate credit history by applying using the company’s credit but please make sure that the company’s bank statement is in active and positive mode.

v. Government funds, grants and projects.

Some available government funds, grants or projects are only made available from Sdn. Bhd. companies as the project needs to refer to Form 24, 44 and from 49 or new Sections under CA 2016. For example, only Sdn. Bhd. companies are allowed to claim Matrade’s export grant.

So, to those entrepreneurs out there, arrange your strategic moves wisely or ultimately whatapps us @ 018- 66 33308 for better info.