Frequently Asked Questions (FAQ)

1. General Corporate Secretarial

What is a corporate secretarial firm, and why do I need one?

A corporate secretarial firm ensures your company complies with statutory
requirements under the Companies Act 2016. We handle filings, maintain records,
advise on governance, and act as a liaison with regulatory bodies like SSM (Companies
Commission of Malaysia). All Malaysian companies are legally required to appoint a
qualified company secretary.

When should I engage a company secretary?

You must appoint a secretary:
• Before incorporation: For new company registration
• Within 30 days of a secretary’s resignation (for existing companies)
• Annually: For ongoing compliance (e.g., annual returns, AGM coordination)

2. Company Formation & Registration

How long does it take to register a company in Malaysia?

Typically, 1–3 working days for SSM approval (if documents are complete). Tramore
expedites the process with error-free submissions.

What are the types of business entities in Malaysia?

Common structures include:
• Sdn Bhd (Private Limited Company): Separate legal entity, limited liability
• LLP (Limited Liability Partnership): Hybrid of partnership and company
• Sole Proprietorship/Partnership: Simple but unlimited liability

Can foreigners register a company in Malaysia?

Yes, but:
• Foreign shareholders require at least 1 local director (for Sdn Bhd)
• Certain industries have foreign equity restrictions

3. Annual Compliance & Filings

What are the annual compliance requirements for Malaysian companies?

Key obligations:
• Hold an AGM (Annual General Meeting) within 6 months of financial year-end
• File Annual Returns Section 68 (with SSM
• Submit Financial Statements (audited if required)
• Update SSM on changes (directors, business/registered address, shares, etc.)

What happens if I miss the annual filing deadline?

Lateings have a minimum compound of RM5,000 and a maximum of up to RM50,000 imposed on each director, shareholder, and the company itself. (Companies. Tramore proactively monitors deadlines to avoid penalty.

4. Corporate Governance & Advisory

What is corporate governance, and why is it important?

Corporate governance refers to the framework of rules (e.g., MCCG 2021) ensuring
accountability, transparency, and ethical decision-making. Strong governance:
• Enhances investor confidence
• Mitigates legal/financial risks
• Improves operational efficiency

What happens if I miss the annual filing deadline?

Late filings incur penalties up to RM50,000 (Companies Act 2016). Tramore
proactively monitors deadlines to avoid penalties.

5, Corporate Governance & Advisory

What is a corporate secretarial firm, and why do I need one?

Do SMEs need governance advisory?

Yes! Even small businesses benefit from:
• Clear shareholder agreements
• Risk management frameworks
• Compliance audits

6. Shareholder & Stakeholder Management

How do I transfer shares in a Malaysian company?

Steps include:
1. Board approval for transfer
2. Share Transfer Form (Section 105) to complete the transfer, duly signed by both transferor and transferee.
3. Submit for stamp duty assessment at the IRB office and stamp duty payment (0.3% of share value).

4. Update SSM via Section 51. Tramore handles end-to-end share transfers, including valuation and documentation.

What should I do if shareholders disagree?

We help:
• Draft shareholder agreements with dispute resolution clauses
• Mediate conflicts professionally
• Advise on exit strategies (e.g., share buybacks or restructuring)

7. Liquidation & Winding Up

When should a company consider liquidation?

Common scenarios:
• Business is no longer viable (insolvency)
• Shareholders wish to retire (voluntary winding up)
• Regulatory non-compliance (compulsory winding up)

How long does liquidation take?

3–12 months, depending on:
• Company complexity
• Asset/debt resolution
• SSM/IRB/court approval timelines

8. Industry-Specific Queries

Are there special requirements for GLCs?

Yes, including:
• Stricter governance codes (e.g., Green Book)
• Additional reporting to ministries/regulators
• Political exposure policies

How does Tramore support healthcare/construction/tech companies?

We tailor services to sector needs:
• Healthcare: , joint venture agreements
• Construction: Project SPV management, accounts and finance advisory
• Tech Startups: ESOP schemes, cloud-funding alignment, investor-ready governance

9. Working with Tramore

How are your fees structured?

We offer:
• Transparent packages (e.g., annual retainer for secretarial services)
• Project-based pricing (e.g., company formation, liquidation)
• Custom quotes for complex cases

What sets Tramore apart from other secretarial firms?

Our 8 core values, especially
• Faith-driven service: Ethical, compassionate approach
• Industry specialization: Deep knowledge of GLCs and SMEs
• Proactive innovation: Digital tools for compliance tracking