Companies Commission of Malaysia (SSM) Presentation CRF 2009

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Presentation by the Companies Commission of Malaysia (SSM) - Reaching out to our stakeholders through education

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Companies Commission of Malaysia (SSM) Presentation CRF 2009

  1. 1. REACHING OUT TO OUR STAKEHOLDERS THROUGH EDUCATION 1
  2. 2. 4 INITIATIVES Organisational Operational Enforcement Transformation Education Enhancement Programme 2
  3. 3. PHILOSOPHY 1. Balanced Enforcement Concept – Conventional Enforcement vs Education 2. Statutory obligation to comply and render full disclosure to the Registrar upon a certificate of incorporation / registration being issued 3
  4. 4. OBJECTIVES • To seek • To enhance voluntary public awareness compliance on the need, importance and benefits of compliance 4
  5. 5. ESTABLISHMENT The Companies Commission of Malaysia Training Academy (COMTRAC) commenced operation since April 2007 to: Enhance the skills and competencies of employees; and Elevate and promote ethical business and good governance values amongst business and corporate community. 5
  6. 6. ADVISORY PANEL MEMBERS (APM) OF COMTRAC Consists of eight prominent persons from private and public sectors. TERMS OF REFERENCE Advising the Academy on the formulation of strategic direction and curriculum development. SSM encapsulates modules on regulatory developments, compliance issues, principal of corporate governance, accountability, best boardroom practices in its training programs to educate our stakeholders and these augment well in ensuring voluntary Monitoring the activitiescompliance. and progression of the Academy. SSM encourages compliance with Malaysian company law through Sharing their experiences with services. education and information the Academy. Advising or assisting the Academy in forming its external or international programs or collaborations. 6
  7. 7. INTERNAL CORPORATE INTERNATIONAL RESOURCE DEVELOPMENT DEVELOPMENT PROGRAMMES CENTRE • To develop • To develop • To promote •To directly and conduct and conduct and market serve, contribute training training training and facilitate efficient programmes programmes programmes information for CCM for external to services in staff. participants. International supporting counterparts. research, training and educational programs for CCM employees and its stakeholders.  School Of Business And Corporate Law  School Of Civil, Prosecution & Investigation  School Of Corporate Financial Reporting  School Of Staff Development 7
  8. 8. INTERNAL DEVELOPMENT KNOWLEDGE ENHANCEMENT FOR EMPLOYEE PROGRAMME (KEEP). • Technical competency; • Management competency; • Behavioral competency Objective of KEEP To equip and prepare staff with knowledge for purpose of job confirmation and promotion To equip staff to answer public queries or represent SSM at any external meeting/programs/seminar. To help staff to understand all related legislations. To create a pool of experts within CCM. 8
  9. 9. INTERNAL DEVELOPMENT Law Module Level 1 (Basic) & Level 2 (Intermediate) Operations Module Level 1 (Basic) & Level 2 (Intermediate) Management Module Level 1 (Basic) & Level 2 (Intermediate) 9
  10. 10. INTERNAL DEVELOPMENT CENTRE FOR STAFF DEVELOPMENT Financial Accounting Module (Basic, Intermediate & Advance) Law (Advance) Module Enforcement Module 10
  11. 11. INTERNAL DEVELOPMENT Other Technical Competency Programs English Writing & Communication Program (Basic, Intermediate & Advance) “Train The Trainers” Program ICT Awareness Program Call Centre Development Program 11
  12. 12. INTERNAL DEVELOPMENT SCHOOL OF CIVIL PROSECUTION & INVESTIGATION • Criminal Prosecution in the Subordinate Courts • Investigation Officers‟ Workshop • BURSA Listing Requirements • Banking And Finance Institutional Act (BAFIA) • Laws Regulating Website Content/Blocking/Closing Websites CyberSecurity/MCMC (Malaysian Communication and Multi Media Commission) • Legislative Drafting Training Program 12
  13. 13. INTERNAL DEVELOPMENT TRAINING GAP ANALYSIS • COMTRAC developed Training Gaps Analysis (TGA) Form in 2007 to identify training programs required by the employees and organization and to assess the employees performance. • Assessment period is held at every year end. • Technical competency assessment result is analyzed and findings are reflected in the Training Plan for the following year. 13
  14. 14. CORPORATE DEVELOPMENT DIRECTORS SERIES CORPORATE CORPORATE GOVERNANCE DIRECTORS & TRAINING ENFORCEMENT PROGRAM SMEs & LICENSED BUSINESS SECRETARIES ENTERPRISE TRAINING SERIES PROGRAMS PROGRAM AVAILABLE AT COMTRAC FREE SSM E- LODGEMENT FINANCE TRAINING PROGRAM COMPANY COMPANY SECRETARIAL LAW SERIES 14
  15. 15. CORPORATE DEVELOPMENT CORPORATE DIRECTORS TRAINING PROGRAMME (CDTP) OBJECTIVES CDTP ACHIEVEMENTS April 2007 – February 2009 Total programs conducted: 101 (a) Keep abreast with regulatory and Total number of participants: 5035 governance developments; (b) Enhance knowledge and understanding TARGET PARTICIPANTS of directors towards company law and Company directors corporate governance; Aspiring directors Officers of companies (c) Provide a clear understanding about Company secretaries companies and responsibilities of directors; Auditors Lawyers (d) Provide insights to common offences Delinquent directors committed by company directors; and (e) Prepare corporate community to cope with changes in the business environment. 15
  16. 16. CORPORATE DIRECTORS TRAINING PROGRAMME (CDTP) ONE-DAY CDTP TWO-DAY CDTP PROGRAMME CONTENTS: PROGRAMME CONTENTS: Module 1: Module 1: The Roles and Responsibilities of Company directors. The Roles and Responsibilities of Module 2: Company directors. The Law and Practices for Company‟s Meeting Module 3: Module 2: The Common Offences Committed by Company The Law and Practices for Company‟s Directors Meeting Module 4: Understanding and Application of Good Corporate Governance Module 3: The Common Offences Committed by Module 5: Company Directors What Directors Need To Know About Corporate Taxation? Module 4: Module 6: Understanding and Application of Good What Directors Need To Know About Corporate Governance Analyzing and Interpreting the Financial Statements? Fee: RM250 (USD70) Fee: RM500 (USD150) 16 Panel of trainers: SSM staff
  17. 17. LICENSED SECRETARIES TRAINING PROGRAMME (LSTP) OBJECTIVES  Enhance knowledge, skills and competencies of company secretaries;  Acquire in-depth understanding on the roles, responsibilities and duties of a company secretary;  Keep abreast with regulatory and governance developments;  Understand the duties and responsibilities of directors and disclosure requirements  Take cognizance of common offences committed by company secretaries TARGET PARTICIPANTS:  Company secretary  Individuals or students who aspire to be company secretary  Members of professional bodies who need a refresher course on Company Secretarial Practice  Corporate administrators  Support and relevant staff dealing in company secretarial duties 17
  18. 18. LICENSED SECRETARIES TRAINING PROGRAMME (LSTP) PROGRAMME CONTENTS: Level 1 Module 1 : The Changing Roles and Responsibilities of Company Secretary Module 2 : What Do You Need to Know About Companies? Level 2 Module 3 : Directors, Company Officers and Auditors Module 4 : What Do You Need to Know About Registered Office, Statutory Books, Statutory Returns & Other Documents? Level 3 Module 5 : Dealing with Company Meetings Module 6 : Common Offences Committed By Company Secretaries LSTP ACHIEVEMENTS Fee: RM200 (USD60) per module April 2007 – February 2009 Panel of trainers: SSM staff Total programs conducted: 60 Total number of participants: 1,944 18
  19. 19. CORPORATE DEVELOPMENT Fees range from USD60 to USD150 DIRECTORS SERIES COMPANY SECRETARIAL SERIES • Regulators’ Guide On Transactions By • Company Secretarial Practice For Directors & Practical Issues & Solutions Beginners. • Understanding Boardroom Finance. • Examining Critical Company Secretarial • Analyzing & Interpreting Financial Issues @ Boardroom . Statements – What Directors Need To • Regulators’ Guide On Shares and Related Know. Issues. • Understanding Corporate Taxation. • Practical and Regulatory Issues and • Implementing the Single-Tier Tax System Solutions to Year End Compliance Matters – AGM, Audited Accounts And Annual • Risk Management. Returns. • Managing Meetings And Effective Minutes · Writing Workshop. • Managing Statutory Register And Guides To Comply With Statutory Forms · Requirements. 19
  20. 20. CORPORATE DEVELOPMENT Fees range from USD60 to USD150 COMPANY LAW FINANCE • Implications Of Companies Amendments • Understanding Boardroom Finance Act 2007 On Companies And Directors. • Finance Essentials For Non-Finance • Insights Into Voluntary Winding-Up, Managers. Striking Off Application And Its • Interpretation of Financial Statements For Procedures. Non-Finance Executive. • Law And Practice On Receivership & • Understanding Financial Statements For Winding – Up By Court. Non-Accounting Personnel. • A Guide For Industry Practitioners: • Cash Management & Credit Control Offering of Interest Schemes . Strategies. • Law On Registration Of Charges And Debentures & Implications In the Event · Of Default. • Company Limited By Guarantee: Law & Compliance. · • Understanding Partnership Law. 20
  21. 21. CORPORATE DEVELOPMENT SMEs & BUSINESS CORPORATE BRIEFING ON „SSM E- ENTERPRISE SERIES GOVERNANCE & LODGEMENT FOR • Start Your Own Business ENFORCEMENT COMPANY SECRETARIES‟ (SYOB): Understanding • Corporate Governance Incorporation Of Companies Cases & Corporate Fraud & Registration Of Business. Detection And Prevention • Corporate Governance & Framework For Corporate Social Whistleblower . Responsibilities (CSR) For • Protection And Creation Of SMEs. Anti-Fraud Culture Within A • Implementing An Effective Corporation. System of Internal Control. Fee range from USD60 to USD150 FREE 21
  22. 22. CORPORATE DEVELOPMENT CORPORATE GOVERNANCE FRAMEWORK FOR CASES & CORPORATE FRAUD WHISTLEBLOWER DETECTION AND PROTECTION AND CREATION PREVENTION OF ANTI-FRAUD CULTURE • 1 Jun 2009 @ Kuala Lumpur WITHIN A CORPORATION • Fee USD90 • 19 Aug 2009 @ Kuala Lumpur • Fee USD60 WE INVITE PARTICIPATION FROM MEMBERS OF CRF, ECRF AND IACA www.ssm.com.my 22
  23. 23. LOCAL AND INTERNATIONAL COLLABORATIONS Fostering stronger ties with reputable professional bodies and international organisations Signed MOU with:  Malaysian Institute of Accountants  Association of Certified Chartered Accountants COMTRAC had collaborated with: • Malaysian Institute of Chartered Secretaries and Administrators • Institute of Internal Auditors Malaysia • Institute of Approved Company Secretaries • Malaysian Institute of Certified Public Accountants • Professional bodies on 22 FOC „SSM E-Lodgement‟ events SSM encourages compliance with Collaborations: Forthcoming International Malaysian company law through education and information services. ● ‘Cambridge International Symposium on Economic Crime for East Asia Region in Kuala Lumpur’ in Year 2010/11 with University of Cambridge, United Kingdom. ● „International Corporate Governance and Fraud Detection Conference’ for 30 delegates from Commonwealth nations in June 2009. (This is a collaboration with the Malaysian Institute of Integrity ). )23
  24. 24. OUTREACH PROGRAMMES MEDIA ENGAGEMENT • Broadcast and create greater awareness on CCM’s compliance requirements. • Interviews on radio network and TV. • Issue press releases to propagate corporate governance and amendments to the Companies Act 1965. • Regular notification on enhancement in the service delivery systems, enforcement initiatives and products and services. 24
  25. 25. ACTIVE STAKEHOLDERS ENGAGEMENT Forums, Companies Stakeholders Commission dialogues 25
  26. 26. LEVERAGING MOBILE COUNTERS AND CIRCUIT COUNTERS • Join efforts with municipal authorities to reach out to our stakeholders; small business operators and traders. • Facilitate business registration and renewals. • Promote compliance and understanding of the legal requirements . PARTICIPATING IN EVENTS AND EXPOSITIONS • Participate in events and expositions conducted by other authorities & institutions nationwide. • Promote compliance amongst businessmen and publicize our initiatives 26
  27. 27. MEDIA COVERAGE 2008 150 100 123 50 NUMBER OF MOBILE COUNTER FOR 2005 - 2008 0 4 8 Newspaper Radio TV Frequency Coverage
  28. 28. 28
  29. 29. NUMBER OF MOBILE COUNTERS FOR 2006 - 2008 1400 1200 1379 1000 800 600 810 400 200 117 0 2006 2007 2008 No. of Programmes
  30. 30. COMPLIANCE RATE 100% 80% 60% 40% 64% 80% 91% 71% 20% 44% 0% 2003 2004 2005 2006 2007 30
  31. 31. Thank You 31

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