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SSM Preparing for Change:Rolling Out the New Companies Act
ByKhuzairi Bin Yahaya
Deputy Chief Executive Officer (Registry & Business Services)Suruhanjaya Syarikat Malaysia
6 SEPT 2016
Why Do We Need Transformation …
"Transformation is not only about increasing the income of the organization, but to
make SSM a more systematic, efficient and accurate"
YB DATO' SERI HAMZAH BIN ZAINUDIN
Minister, Ministry of Domestic Trade, Cooperatives and Consumerism
“Cooperation from all employees can help improve SSM in the successful
implementation"
"SSM provides an opportunity to do business more easily and ensure information of business owner
is secured"Source:
Special Assembly With YB MDTCC27 August 2015
2
SSM Vision To Be Top Tier Corporate Registrar ….
Ranking2015 Country
1 New Zealand
2 Macedonia FYR
3 Canada
4 Hong Kong SAR, China
5 Armenia
6 Georgia
7 Azerbaijan
8 Lithuania
9 Jamaica
10 Singapore
11 Australia
12 Belarus
13 Portugal
14 Malaysia
SimulatedRanking
Country
1 New Zealand
2 Macedonia FYR
3 Canada
4 Hong Kong SAR, China
5 Armenia
6 Georgia
7 Azerbaijan
8 Lithuania
9 Jamaica
10 Singapore
11 Australia
12 Belarus
13 Portugal
14 Malaysia(Source : Doing Business 2015 http://www.doingbusiness.org/rankings
4
Modernised Companies Bill 2015
Decoupling of submission of Annual Return (AR) and Audited Account (AA)
No Mandatory AGM for private company
Company is accorded with full capacity to conduct without limit
Promoter(s)/Shareholder(s) to incorporate company
Incorporation Process via superform
Lodgement of AR within 30 days from anniversary of company incorporation date
Option to file AR without changes
Striking off company upon consecutive 3 years failure to lodge AR
Corporate Rescue Mechanisms:-Corporate Voluntary Arrangement-Judicial Management
No Par Value
Appointment of Company Secretary 30 days after incorporation
6
Minimum of One Director for private company
Part I:Preliminary
Part II:Registration of
Schemes
Part III:
Trust Deed, Trustees and Prospectus
Part IV:
Management, Audit and Meetings
Part V:
Winding Up of Schemes
Part VI: Enforcement of
the Act
Part VII: Administration of
the Act
Modernised Interest Scheme Bill 2015
7
Company ProfileLatest information of a company
Company ChargesRegistered charges for a particular company
Financial ComparisonCompany financial standing for the last 2 years
Business Termination LetterTermination letter of a business
Images of Company Formslodged with SSMEg.: Form 24, 49, Annual Return, Financial Statement, etc
Company WatchNotification of changes in a company
• state, area, postcode, industry• paid up capital, turnover, revenue• incorporation date
• status (existing, strike-off, winding up and dissolved)
• foreign shareholder, foreign company
• Cert. of registration of:• New LLP• Conversion from Sdn Bhd /
Enterprise• Change of name
• Certificate of good standing
• Current or historical profile• Personal involvement• Submitted documents -
• change of particulars • change of name• registration forms
Business ProfileLatest information of a business
SDN BHD / BHD ENTERPRISE (Sole Proprietor / Partnership)
LIMITED LIABILITY PARTNERSHIP (LLP)
CORPORATE & BUSINESS INFORMATION DATA (CBID)
www.myllp.com.my
www.ssm-einfo.mywww.ssm-einfo.my
www.ssm.com.my
Also available through smartphone app - iOs & Android
Listing of Companies or Businesses by:
Making RIGHT BUSINESS DECISIONS
8
9
A Joint Venture Between Bank Rakyat and SSM1 August 2016
A Joint Venture Between Big Dataworks and SSM14 June 2016
Latest Services
SSM Initiative2 September 2016
SSM Transformation Plan
Transformation Plan
2016 – 2020
Medium TermMain Activities
Short Term
Quick Wins
Long Term
179
5 Years
(< 1 year)
(1 – 2 years)
(3 – 5 years)
10
Agile Technology
Platform
High Performance
Culture
Trusted Environment
Sustainable Value
Process Improvement
BLUEPRINT
Goal 4
5 Transformation Goals
11
Process Improvement
Reduce time taken by companysecretary to prepare incorporationinformation
Reduce and simplify procedures to incorporate a company
Reduce Cost of incorporating a company
Advance System with improved overall usability and experience
Improve Ranking of Malaysia in Starting A Business category
Current :3 Procedures, 5.5 Days
Future :1 Procedure, 2.5 Days
Current := no.14
Future := no. 5
12
Agile Technology Platform
LLP ROB
ROC
Platfom pendaftaran yang berpusat dan bersepadu
Strong processes for verification, privacy and integrity.
Online document submission
Online payment
RM
Timely notification
Success
E- Declaration &E- Confirmation
Digital signature (Digital Signature Act
1997)
13
Sustainable Value
Leveraging on existing and new products and services
Shariah Compliance Certification for companies
Suppliers of Corporate Training, research and development
Platfom to advertise companies going for wind up
E-Biz Trust for online businesses
Information brokerage
Subscription to various online services
Diversification of SSM products and services offerings
5 years
14
Security Infrastructure
Enterprise Resource PlanningCORE
Agile Platform via Enterprise Architecture
Enterprise Service Bus + Workflow + BPM
Bus
ines
s Fu
nctio
n/ S
ervi
ceTe
chno
logy
& In
fra
ROB ROC LLP
CLBG Trust
Enforcement
Case Management
Interest
Info Brokerage
Reporting
National Business Registry
XBRLECM
Content Mgmt
Scanning & Indexing
Data Analytics
Strategic
Advisory
Mktg & Sales
Finance HRMS
Accounts
Payroll
e-BSK
Reporting
Workforce
Talent
Self ServiceBudget
Investment
Expenses
Collection
Admin
Inventory
Building
Procurement
Contract Mgmt
CRM
Billing
Marketing
Contact
Complains
Training
App
licat
ion
& D
ata
PortalKiosk Mobile App
App Delivery Controller
Core & Floor Switches
Internet & WAN
WAN Optimizer
Proxy/ Cache
Backup & Storage
Server Virtualizatio
n
MDM
IT Asset Mgmt
Infra & Ops Monitoring
Application Monitoring Payment Gateway
Governance, Risk &
Compliance
DDOS
DLP
Digital Signature & CA
Vulnerability Assessment
Database Security
WAF
IPS/ IDS
NGFW
SIEM
Endpoint Priv. Access Mgmt
Collaboration
KMS
e-Learning
UnifiedComm.
Exchange & AD
EA ToolIAM
Non-Core
QMS
Card Access
V-Lib
e-Signage
Integration
Business Partners
Intermediaries
Gov. Agencies
MinistriesCCTV
Social Media
Tender 1
Tender 2Tender 6 Tender 5
Tender 3APT
Tender 4
15
Transition Management Framework
Transition Management framework adopted for the project has four (4) stages as follows:
16