ESSENTIAL ROLE OF COMPANIES COMMISSION OF MALAYSIA FOR MALAYSIA STATISTICAL BUSINESS

REGISTER DEVELOPMENT

WAN ZARAZILLAH BIN WAN ABU BAKAR CORPORATE DEVELOPMENT AND POLICY DIVISION

4 FEBRUARY 2015

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AN OVERVIEW OF COMPANIES COMMISSION OF MALAYSIA (SSM)

HISTORY OF FORMATION OF SSM

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OBJECTIVE 1) To ensure systematic and dynamic growth of the corporate and business sector. 2) To ensure the conduct of business is in accordance with the laws and principles of

corporate governance. 3) Towards the establishment of an autonomous, flexible and responsive regulatory

authority.

ROC

(Est. 1898)

ROB

(Est. 1939)

COMPANIES COMMISSION OF MALAYSIA ACT 2001 (Act 614)

Established in April 2002

SSMS ORGANIZATIONAL STRUCTURE

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CHIEF EXECUTIVE OFFICER

DEPUTY CHIEF EXECUTIVE (OPERATIONS)

SENIOR DIRECTOR ENFORCEMENT

CORPORATE DEVELOPMENT AND

POLICY DIVISION

REGISTRATION SERVICES DIVISION

BUSINESS DEVELOPMENT MARKETING DIVISION

BRANCH OPERATIONS SECTION

LEGAL SERVICES DIVISION

COMPLIANCE DIVISION

INVESTIGATION DIVISION

COMPLAINTS SECTION

CORPORATE RESOURCES DIVISION

ICT DIVISION

PUBLIC AFFAIRS SECTION

TRANFORMATION MANAGEMENT

SECTION

COMMISSION

MEMBERS

INTERNAL AUDIT

TRAINING ACADEMY (COMTRAC)

COMMISSION SECRETARY

DEPUTY CHIEF EXECUTIVE (SERVICES)

SSMS COMMISSION MEMBERS

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Appointed by the Minister consisting of:

a Chairman; the Chief Executive Officer; Minimum 5 and not more than 7 other persons: 3 from the public service; and 4 from the private sector.

SSMS VISION STATEMENT

VISION STATEMENT

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To Be A World Class Corporate Registry and Regulatory Authority That Meets Business Needs

Through Effective Registration, Information, Regulation and Advice.

SSMs VISION STATEMENT

SSMS CORPORATE VALUES

CORPORATE VALUES

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CUSTOMER ORIENTED TEAMWORK

CONTINUOUS KNOWLEDGE AND

SKILL ENHANCEMENT

INTEGRITY RESULT-DRIVEN

SSMS PRESENCE NATIONWIDE

STATE AND BRANCH OFFICES NATIONWIDE

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Population of Malaysia 30,381,089

KOTA

KINABALU LABUAN

KUCHING

KOTA BHARU

KUALA TERENGGANU

KUANTAN

JOHOR BAHRU MELAKA

SEREMBAN

SHAH ALAM

KUALA LUMPUR

IPOH

BUTTERWORTH

ALOR SETAR

KANGAR

PULAU LANGKAWI

MIRI

TAWAU

TEMERLOH

MUAR

STATE OFFICE: 15

BRANCH OFFICE: 5

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URBAN TRANSFORMATION CENTRE : 4

Total Number of Staff 1,218

FUNCTIONS AND POWER OF SSM

FUNCTIONS & POWER

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Focal Point for Incorporation of Company and Business Registration

Centre for Corporate and Business Information

Corporate Regulator

Promoter for Good Governance

Centre for Corporate Training

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ADMINISTRATION OF PRESCRIBED

LAWS

1. COMPANIES COMMISSION OF MALAYSIA ACT 2001 An Act to establish the Companies Commission of Malaysia, to provide for its functions and powers and for matters connected therewith.

2. COMPANIES ACT 1965

An Act to provide for the registration, administration and dissolution of companies and corporations

3. LIMITED LIABILITY PARTNERSHIPS ACT 2012 An Act to provide for the registration, administration and dissolution of limited liability partnerships (LLP)

4. REGISTRATION OF BUSINESSES ACT 1956 An Act to provide for the registration of businesses

5. TRUST COMPANIES ACT 1949 An Act to provide for registration and regulation of trust companies in Malaysia.

6. SUBSIDIARY LEGISLATIONS UNDER THE ABOVE ACTS

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REGULATION OF

CORPORATIONS AND

BUSINESSES

Regulates and enforce matters relating to the laws administered by SSM;

Conducts continuous monitoring, inspection and surveillance exercises in ensuring compliance;

Carries out enforcement action on non-compliance; Administers matters on closing a business (striking-

off, winding-up);

Regulates and monitors corporate intermediaries: Company Secretaries Auditors Liquidators Directors & officers of Companies

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PROMOTE CORPORATE

GOVERNANCE

Encourage and promote proper conduct amongst directors, secretaries, managers and other officers of a corporation, and self regulation by corporations, companies, businesses, industry groups and professional bodies.

Activities carried through:

Training (CDTP, LSTP, CSTP);

Dialogues (Annual Dialogues);

Seminars;

Consultative Forums;

Awareness Programmes; and

Publicity blitz.

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CUSTODIAN OF CORPORATE

INFORMATION

Company and Business Profile

Financial Analysis

e-Info Image

Directors Information/Profile

Company Watch

CUSTOMIZED Statistics

Closing of Business Application

List of Company Charges

B2B Integration

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RESEARCH AND STUDIES ON CORPORATE

BUSINESS ACTIVITIES

Review on laws administered by SSM

Corporate Law Reform Review of the

Companies Act 1965

Public Consultation on LLP

Survey on Corporate Responsibility

Providing opinions on legislations

related to corporations, businesses

and limited liability partnerships

SNAPSHOT ON COMPANIES, BUSINESSES AND LLPs

TYPES OF COMPANIES AND BUSINESSES IN MALAYSIA

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Limited by Shares

Unlimited

Private Public

Listed Not Listed

Exempt Private Company

Limited by Shares & Guarantee

Non-Exempt Private Company

Limited by Guarantee

Sole Proprietorship

Partnership

COMPANIES (CA 1965)

BUSINESSES (ROBA 1956)

NOTE: Foreign companies

incorporated in other

jurisdictions may be registered

as a branch under CA 1965.

MAIN DIFFERENCES BETWEEN COMPANIES & BUSINESSES

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Companies Businesses

A company is a legal personality, separate from its owner & management.

The life cycle of a company ends when it is wound up.

No need for renewal of incorporation. The profit generated by the company

is divided amongst the shareholders. Required to submit annual returns

and audited financial statements to the Registrar of Companies (SSM).

Required to hold annual general meetings.

A business does not have a legal personality and is not separate from its owner.

The life cycle of a company ends when it is terminated or its registration is not renewed.

Renewal of registration may be done annually, every two years or every three years.

The profit generated by the business belongs to the owner.

Not required to submit annual returns and audited financial statements.

Not required to hold annual general meetings.

NUMBER OF COMPANIES INCORPORATED

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TOTAL COMPANIES : *1,113,465 TOTAL ACTIVE COMPANIES : 483,748 LOCAL COMPANIES : 1,108,842 FOREIGN COMPANIES : 4,623 AVERAGE REGISTERED PER YEAR : 42,250 AVERAGE REGISTERED PER MONTH : 4,100

TOTAL BUSINESSES REGISTERED

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* As at 31 December 2014

TOTAL BUSINESS REGISTERED : 5,634,101 TOTAL SOLE-PROPRIETORSHIPS : 4,469,576 TOTAL PARTNERSHIPS : 1,164,525 AVERAGE PER YEAR : 261,897 AVERAGE PER MONTH : 27,700

LIMITED LIABILITY PARTNERSHIP ACT 2012

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Launched: 5 February 2013

*Total LLPs: 3,744

*As at 31 December 2014

PRODUCTS & SERVICES FAST, ACCURATE & EASY

SSMS PRODUCTS & SERVICES

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SSMS SERVICES

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SSM Services

e-Info

e-Lodgement

MyCoID

LLP

1 Hour Registration of Business

1 Day Incorporation

Business Registration Mobile Counter

SSMS PRODUCTS

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SSM Products

Corporate Information Supply

Corporate and Business Information Data (CBID)

Commemorative Certificate

Company Incorporation Tender Number

Publication

1. e-Info

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*Companies Act 1965

*Registration of Businesses Act 1956

* Kick off on July 2006

* Internet Platform for search and purchase of company and business information online.

* Accessible via www.ssm.com.my

*Real-time information directly from SSM database.

*Available online 24/7, 7 days a week.

*Call center service 24/7.

*Information purchased is sent by email.

1. e-Info (cont.)

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Company Profile (ROC) Company Profile information include company name, company registration number and

check digit, previous name and date of change, total authorized and total issued, directors, managers, shareholders, officers, company charges and summary of the latest financial information.

Business Profile (ROB) business profile information include business name, registration number, type of

business and detail of owner and partners, business address, date of commencement, and expiry date of current registration.

Company Charges company Chargers have detailed information about registered chargers for a particular

company including details of as