POST INCORPORATION
“My crown is called content,
a crown that seldom kings enjoy”
William Shakespare
Secretarial and corporate governance
Company Secretarial Service Packages
Annual Company Secretary Service
RM1,000
Annual Return Submission & Financial Statement Submission to SSM For Private Limited Company (Included SSM Filing fee of RM200)
From RM500
* billed in one year in advance
Our Annual Company Secretary Services Package provides:
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Acting as named Corporate secretary by our qualified professional staff (Malaysian)
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Safekeep company common seal
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Maintaining the Minutes and Register Books
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Provision of registered office address #
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Advice on secretarial/statutory/compliance/accounting/tax/GST matters
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Monitoring and ensuring compliance with relevant legal requirements, particularly under the Companies Act and Income Tax Act. Regular compliance alert via email and call.
# The use of Our office premise as your company’s Registered Address is for fulfilment of statutory requirements under the Companies Act whereby all the statutory records shall be kept and accessible to the public. Hence, it is common practice that the registered address shall be the Company Secretary’s office address. Please note that the provision of registered address is already included as part of our company secretarial package.
Our office in Malaysia utilizes outsourced reputable security system on top of the building security control in-and-out gate and the building security guards. The 24 hours central monitoring system and 24 hours armed response team will assured you with our 3-tiers security systems to prevent and minimize the possibilities of loss of secretarial file, secretarial file get burned or secretarial file stolen.
Provision of Registered Office Address Includes:
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Statement of letter is available upon request
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Free Incoming General Fax Services (Local outgoing fax-RM1 for each page, Overseas outgoing fax-RM2 for each page)
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Free Scanning letter services upon request
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Free daily letter/parcel notifications via email
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Self-collection of mail and parcels between Monday – Friday: (9am to 6pm) (no handling fee)
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Receipt of normal mails, air mails, parcels (below 3 kg) or registered mails *
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Mail forwarding / Courier arrangement to a local / overseas address on daily / weekly / monthly basis is available (Service fee of RM 1 is applied for each forwarding)
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* Approval must be obtained for any bulky items / parcels (especially it is more than 3 kg) sent to the registered office address. Daily handling fee and storage fee is applied.
Please note that registered office address shall not be confused with business address of your company. For license application purpose, it is mandatory to have a physical premise for license application and the relevant authority will request for the supporting documents from the applicant company to verify that the applicant company is operating at the said physical premise. Therefore, our registered office address shall NOT be stated as your business address for license application.
Our fees quoted to you is one of best quote in the market among our comparable competitors. With the dynamic and challenging working environment, we are still able to maintain our fees as one of the lowest in the market among our comparable competitors without compromising on our high quality of services to you. The difference in our quality services will alert you why you should avoid low secretarial fees service provider.
Contact us today for a no-obligation consultation.
Standard Charges of Non Routine Corporate Secretarial Services and Disbursements
Company Name Search (each application)
RM 100
Change of company name (include common seal & rubber stamp)
RM 600
SSM Company Profile (each company)
RM 100
SSM Company Images (i.e. Statutory forms)
RM 50
Increase of Authorised Share Capital (excludes stamp duty payable)
RM 300
Increase of Issued Share Capital
RM 350 for first allottee
RM 100 each additional allottee
Splitting of Shares
From RM 250
Transfer of Shares (excludes stamp duty payable)
From RM 250
Replacement of lost share certificate
From RM 250
Resolution for Declaration of Dividend
RM250 for first shareholder
RM100 each additional shareholder
Appointment/Resignation of Director
RM 250 per director
Update of Director’s Particular
RM 100 per director
Change of Secretary and registered office
RM 300
Appointment/ Resignation of Auditors
RM 200
Change of Financial Year-end
RM 150
Opening/Closure of Bank Account
RM 380
Outgoing signing of documents at the bank branch by Company Secretary / Nominee Director
From RM 500
Change of Bank Authorised Signatory/Signatories
RM 150
Application for Extension of Time for Annual General Meeting
RM 300
Amendment of Constitution (formerly known as Memorandum and Articles of Association)
From RM 600
Lodgement of a new standard Constitution for your Company with SSM
From RM 400
Purchase/Disposal of Property/ Tenancy Agreement
From RM 150
Attend Meeting by Corporate Secretary or representative (in Faizal & Partners Office) (Excluding disbursement and Records of minutes)
From RM 400 per hour
Attend Meeting by Corporate Secretary or representative (in Client Office) (Excluding disbursement and Records of minutes)
From RM 700 per hour
Letter of Confirmation of Company Information by Secretary
From RM 400
Letter of Confirmation of Minutes for Audit Purpose by Secretary
From RM 250
Closure of Company – Striking-off
From RM 2,000
Certification of Statutory Document
RM 5 per page
Certification of Non-Statutory Document (e.g. NRIC, Passport, etc.)
RM 50 per page
Referral Fee for Opening of Bank Account
RM 50 per bank
Any other resolution not specified in this schedule
To be adviced
@ The adoption of Constitution is optional under the Companies Act 2016 (CA 2016) and if you are interested to adopt our standard Constitution for your company, our fee is RM450 which includes stamping fee (RM200). Extra charge for customisation of Constitution applies. Amongst the special clauses included in our standard Constitution are as follow:-
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Signing of board resolution by majority of directors (signing by all directors as required under CA 2016)
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Adoption of common seal (which is useful when client purchase properties)
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Main venue of meeting of members may not be in Malaysia (must be held in Malaysia under CA 2016))
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Responsibilities of a Company Secretary
In addition to monitoring and ensuring compliance with relevant legal requirements, a company secretary also has the following responsibilities:
Board Meetings
Co-coordinating the operation of the company’s formal decision making and reporting machinery; formulating meeting agendas with the chairman and /or the chief executive; attending meetings, taking minutes; maintaining minute books; certifying copies of minutes and ensuring that correct procedures are followed.
General Meetings
Originating and obtaining internal and external agreement to all documentation for circulation to shareholders; co-coordinating the administration and attending of meetings, taking minutes and ensuring that correct procedures are followed.
Company Constitution
Ensuring that the company complies with its constitution and drafting/incorporating amendments in accordance with correct procedures.
Maintaining Statutory Registers and Books:
Statutory Returns
Updating SSM on:
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any changes in the director(s) of a company or particulars relating to director(s)
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changes to a directors name or residential address
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removal from office in accordance with the Malaysia Companies Act or the constitution
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disqualification from holding office
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appointments/resignations/deaths
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annual return
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change of company name
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adoption, alteration and revocation of constitution
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issue of shares
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any other changes that requires updating with SSM
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Report and Accounts
Coordinating the publication and distribution of the company’s annual report, accounts and interim statement, and the preparation of the directors’ report.
Share Registration
Maintaining the company’s register of members, dealing with transfers and other matters affecting shareholdings and dealing with queries and requests from shareholders after registering company.
Shareholder Communication
Communicating with the shareholders (i.e. through circulars), payment of dividends and interest, issuing documentation regarding rights issues and capitalization issues, general shareholder relations and relations with institutional shareholders and their investment protection committees.
Shareholder Monitoring
Monitoring changes within the register of members to identify an apparent ‘stake-building’ in the company’s shares by potential takeover bidders and making enquiries of members as to beneficial ownership of holdings.
Share and Capital Issues, Transfers and Restructuring
Implementation of changes in the structure of the company’s share and loan capital and devising, implementing and administering directors’ and employees’ share participation schemes.
Acquisitions and Disposals
Participating as a key member of the company team established to implement corporate acquisitions and disposals, protecting the company’s interests by ensuring the effectiveness of all documentation and that due diligence disclosures enable proper commercial evaluation prior to completion of a transaction.
Corporate Governance
Reviewing developments in corporate governance and advising and assisting the directors with respect to their duties and responsibilities, compliance with their personal obligations under company law and, if applicable, Stock Exchange requirements.
Non-Executive Directors
Acting as a channel for communication and information with non-executive directors.
Company Seal
Ensuring the safe custody and proper use of the company seal if provided for in the company constitution.
SSM Compliance Alert and Reminders
Faizal & Partners will send reminders to you on filing deadlines and compliance matters
Accounting Bookkeeping Services in Malaysia
Package Fee for Bookkeeping Services in Malaysia
Packages AvailableFee (RM)
Monthly / Quarterly / Yearly Bookkeeping *From RM 500
GST Submission and E-filing **FREE
* In the event that your documents are complete and in order, discount will be given.
** FREE GST E-filing on behalf of the company is provided only if you have engaged our Bookkeeping Service
Faizal & Partners offers a comprehensive range of accounting and bookkeeping services in Malaysia for your newly established or existing company. Our accountants can compile your accounts information monthly / quarterly or yearly for GST submission, annual statutory audit and corporate tax submission to IRB. We specialize in maintaining a timely accounting system that allows you to manage your accounts cost-effectively.
All companies registered in Malaysia must keep proper books of accounts as stipulated by the Malaysia Companies Act. Good bookkeeping not only facilitates day-to-day account maintenance and auditing of financial statements for the submission of annual returns, but also provides insight for sound business decision-making as well as efficient financial management.
3E Accounting provides the full spectrum of accounting services for companies that wish to outsource their bookkeeping function.
Advantages of GST Accounting Outsourcing
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NO need buy GST Accounting Software
Faizal & Partners provides accounting services using our own licensed accounting software. -
NO worry on GST incompliance which results in severe penalties
Faizal & Partners will always ensure your Company is comply with GST requirements and alert you on any GST updates -
NO worry on COSTS
Faizal & Partners service fee is completely transparent, absolutely no hidden fees. The agreed accounting fees definitely more cost savings than the overheads and hassles on recruitment and training and other staff costs -
NO worry on training to staff
Faizal & Partners has a team of highly experienced and knowledgeable staff members who are certified professionals -
NO worry on staff issues
Faizal & Partners take over all the GST Accounting responsibilities, you no longer need to worry on accounting staff’s turnover, non-performing, absences during critical time and etc
Leave the GST accounting works toFaizal & PArtners and spend your valuable time on your core business, Contact us today for a no-obligation consultation.
How it Works
When you engage Faizal & Partners Bookkeeping Services in Malaysia, you will be assigned an accountant who will work with you personally on your business accounting needs.
Based on the financial documents you submit to us on a periodic basis, your accountant will review and organize the information to create and maintain your accounts ledger. The accountant will ensure management accounts are ready on timely basis and to fulfill annual statutory audit purposes also.
Your dedicated accountant will also help monitor statutory compliance issues and work with you to ensure you understand all the accounts and reports.
At Faizal & Partners, we don’t believe in a one-size-fits-all package for our clients. Call us to discuss more on how we can help you manage your accounts and be in compliance with SSM and IRB.
Corporate Tax Planning in Malaysia
Tax planning is the process of looking at the available tax options in order to determine how the Company can conduct the business transactions so that taxes are eliminated or reduced.
Below are some pointers which companies may note for tax considerations, depending on its tax position.
General Tax Planning
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Being a SME (Generally, SME refers to resident companies that has a paid-up capital in respect of ordinary shares of RM2.5mil or less at the beginning of the basis period for a YA), The first RM500,000 Chargeable Income will be tax at 19% in YA 2016 (18% in YA 2017) and the Chargeable Income above RM500,000 will be tax at 24% in YA 2016 (in Budget 2017, it is proposed that reduction of tax rate for increase in chargeable income shall apply for YA 2017 and 2018). Therefore, by determining the first year end with a shorter or longer period, you may have a lower / higher tax payable amount.
Illustration:
If the first tax basis period is 1 Jan 2016 to 31 December 2016, you are paying 19% for chargeable income below RM 500,000. If the first tax basis period is changed to 1 Jan 2016 to 31 Jan 2017, you are paying only 18% for the chargeable income below RM 500,000. The amount of tax saving is RM5,000. -
By simply stating that one of Company’s objects is investment holding, it could have a bearing in contending that certain disposals of land or property by Company are disposals of capital assets rather than disposals of stock-in-trade, which makes a difference when it comes to the assessment of the tax payable.
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Estimate your tax payable amount accurately to avoid the penalty on underestimation of tax payable under the Income Tax Act. The Company can submit the CP 204A to revise the estimate of tax payable in the sixth or/and ninth month of the basis period.
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Apply for specific industry tax incentive such as MSC Status.
For companies in a loss making/ non-tax paying position
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Business losses can be set off against income from all sources in the current year. Any unutilised losses can be carried forward indefinitely to be utilised against income from any business source. If the company is dormant, the carry forward of losses is only allowed if the shareholder continuity test is met.
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Unabsorbed capital allowances can be carried forward indefinitely to be utilised against income from the same business source. If the company is dormant, the carry forward of capital allowances is only allowed if the shareholder continuity test is met.
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Group relief is a scheme which enables Malaysian related companies to deduct 70% of current year adjusted business losses of the surrendering company from the defined aggregate income of another company.
For companies in a tax-paying position
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Capital allowances may be utilised to reduce the chargeable income.
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The declaration of director fees / contractor fee may be considered if the arrangement offers potential tax savings. This may be performed through tax planning which involves the comparison of effective tax rates.
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Companies may also consider debt financing over equity financing as interest expenses are tax deductible provided the monies borrowed are used for business purpose.
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Review may be conducted on the outstanding debts to write off long overdue debts which are irrecoverable.
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Review may be conducted on the obsolete stock to write off.
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Annual bonus payments to the employees (the actual bonus amounts must be ascertained and made known to the employees thereby ‘incurring’ the bonus expense, notwithstanding that the payment is made after year end)
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Companies may re-assess the accounts to identify any omitted accrual expenses.
All business decisions today have tax implications and it is important for a company to manage its income tax requirements efficiently. At 3E Accounting PLT, we work closely with you to identify tax strategies that work best within your organisation and manage your tax compliance.
Contact us today for Corporate Income Tax Planning at faizal8partners@gmail.com for a no-obligation consultation!