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

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“ To be a top tier corporate registry

and regulatory authority “

SSM Vision …

3

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

Suruhanjaya Syarikat Malaysia Beyond Today ….

5

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

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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

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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

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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)

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Agile Technology

Platform

High Performance

Culture

Trusted Environment

Sustainable Value

Process Improvement

BLUEPRINT

Goal 4

5 Transformation Goals

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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

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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)

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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

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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

Email

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

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Transition Management Framework

Transition Management framework adopted for the project has four (4) stages as follows:

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SSM’s CEO Message

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