Companies Commission of Malaysia (SSM) Presentation CRF 2009

REACHING OUT TO OUR STAKEHOLDERS THROUGH

EDUCATION

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4 INITIATIVES

EnforcementOperational

Enhancement

Organisational Transformation

ProgrammeEducation

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PHILOSOPHY

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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

OBJECTIVES

• To seek voluntary compliance

• To enhance public awareness on the need, importance and benefits of compliance

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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.

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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

compliance.

SSM encourages compliance with Malaysian company law through education and information services.

ADVISORY PANEL MEMBERS (APM) OF COMTRAC

Consists of eight prominent persons from private and public sectors.

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Advising the Academy on the formulation of strategic direction and curriculum development.

Monitoring the activities and progression of the Academy.

Sharing their experiences with the Academy.

Advising or assisting the Academy in forming its external or international programs or collaborations.

TERMS OF REFERENCE

INTERNAL DEVELOPMENT

• To develop and conduct training programmes for CCM staff.

CORPORATE DEVELOPMENT

• To develop and conduct training programmes for external participants.

INTERNATIONAL PROGRAMMES

•To promote and market training programmes to International counterparts.

RESOURCE CENTRE

• To directly serve, contribute and facilitate efficient information services in supporting 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

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KNOWLEDGE ENHANCEMENT FOR EMPLOYEE PROGRAMME (KEEP).• Technical competency; • Management competency; • Behavioral competency

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Objective of KEEP

Law Module Level 1 (Basic) & Level 2 (Intermediate)


Operations Module Level 1 (Basic) & Level 2 (Intermediate)

Management Module Level 1 (Basic) & Level 2 (Intermediate)

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CENTRE FOR STAFF DEVELOPMENT

Financial Accounting Module (Basic, Intermediate & Advance)

Law (Advance) Module

Enforcement Module

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“Train The Trainers” Program

English Writing & Communication Program (Basic, Intermediate & Advance)

ICT Awareness Program

Call Centre Development Program


Other Technical Competency Programs

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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

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.

Sample of TGA Form

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PROGRAMS AVAILABLE

AT COMTRAC

FREE

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(a) Keep abreast with regulatory

and governance

developments;

(b) Enhance knowledge and understanding

of directors towards

company law and corporate governance;

(c) Provide a clear understanding

about companies and responsibilities

of directors;

(d) Provide insights to common offences

committed by company

directors; and

(e) Prepare corporate

community to cope with

changes in the business

environment.

● Company directors

● Aspiring directors

● Officers of companies

● Company secretaries

● Auditors● Lawyers

● Delinquent directors

OBJECTIVES


CORPORATE DIRECTORS TRAINING PROGRAMME (CDTP)

TARGET PARTICIPANTS

CDTP ACHIEVEMENTS April 2007 – February 2009

Total programs conducted: 101 Total number of participants: 5035

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PROGRAMME CONTENTS:

Module 1:The Roles and Responsibilities of Company directors.

Module 2:The Law and Practices for Company’s Meeting

Module 3: The Common Offences Committed by Company Directors

Module 4: Understanding and Application of Good Corporate Governance

PROGRAMME CONTENTS:Module 1:The Roles and Responsibilities of Company directors.Module 2:The Law and Practices for Company’s MeetingModule 3: The Common Offences Committed by Company Directors Module 4: Understanding and Application of Good Corporate Governance

Module 5: What Directors Need To Know About Corporate Taxation?Module 6: What Directors Need To Know About Analyzing and Interpreting the Financial Statements?

ONE-DAY CDTP TWO-DAY CDTP

Fee: RM250 (USD70) Fee: RM500 (USD150)

Panel of trainers: SSM staff 16

CORPORATE DIRECTORS TRAINING PROGRAMME (CDTP)

LICENSED SECRETARIES TRAINING PROGRAMME (LSTP)

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

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

OBJECTIVES

TARGET PARTICIPANTS:

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LICENSED SECRETARIES TRAINING PROGRAMME (LSTP)

Level 1Module 1 : The Changing Roles and Responsibilities of Company Secretary Module 2 : What Do You Need to Know About Companies?

Level 2Module 3 : Directors, Company Officers and Auditors Module 4 : What Do You Need to Know About Registered Office, Statutory

Books, Statutory Returns & Other Documents?Level 3Module 5 : Dealing with Company Meetings Module 6 : Common Offences Committed By Company Secretaries

Panel of trainers: SSM staff

Fee: RM200 (USD60) per module

Total programs conducted: 60Total number of participants: 1,944

LSTP ACHIEVEMENTS April 2007 – February 2009

PROGRAMME CONTENTS:

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· ·

DIRECTORS SERIES • Regulators’ Guide On Transactions By

Directors & Practical Issues & Solutions• Understanding Boardroom Finance.• Analyzing & Interpreting Financial

Statements – What Directors Need To Know.

• Understanding Corporate Taxation.• Implementing the Single-Tier Tax System• Risk Management.

COMPANY SECRETARIAL SERIES• Company Secretarial Practice For

Beginners. • Examining Critical Company Secretarial

Issues @ Boardroom .• Regulators’ Guide On Shares and Related

Issues. • Practical and Regulatory Issues and

Solutions to Year End Compliance Matters – AGM, Audited Accounts And Annual Returns.

• Managing Meetings And Effective Minutes Writing Workshop.

• Managing Statutory Register And Guides To Comply With Statutory Forms Requirements.

Fees range from USD60 to USD150

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· ·

COMPANY LAW• Implications Of Companies Amendments

Act 2007 On Companies And Directors.• Insights Into Voluntary Winding-Up,

Striking Off Application And Its Procedures.

• Law And Practice On Receivership & Winding – Up By Court.

• A Guide For Industry Practitioners: Offering of Interest Schemes .

• Law On Registration Of Charges And Debentures & Implications In the Event Of Default.

• Company Limited By Guarantee: Law & Compliance.

• Understanding Partnership Law.

FINANCE• Understanding Boardroom Finance• Finance Essentials For Non-Finance

Managers.• Interpretation of Financial Statements For

Non-Finance Executive.• Understanding Financial Statements For

Non-Accounting Personnel.• Cash Management & Credit Control

Strategies.

Fees range from USD60 to USD150

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SMEs & BUSINESS ENTERPRISE SERIES • Start Your Own Business

(SYOB): Understanding Incorporation Of Companies & Registration Of Business.

• Corporate Governance & Corporate Social Responsibilities (CSR) For SMEs.

• Implementing An Effective System of Internal Control.

CORPORATE GOVERNANCE & ENFORCEMENT • Corporate Governance

Cases & Corporate Fraud Detection And Prevention Framework For Whistleblower .

• Protection And Creation Of Anti-Fraud Culture Within A Corporation.

BRIEFING ON ‘SSM E-LODGEMENT FOR COMPANY SECRETARIES’

Fee range from USD60 to USD150

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FREE


CORPORATE GOVERNANCE CASES & CORPORATE FRAUD DETECTION AND PREVENTION• 1 Jun 2009 @ Kuala Lumpur• Fee USD90

FRAMEWORK FOR WHISTLEBLOWER PROTECTION AND CREATION OF ANTI-FRAUD CULTURE WITHIN A CORPORATION• 19 Aug 2009 @ Kuala Lumpur• Fee USD60

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WE INVITE PARTICIPATION FROM MEMBERS OF CRF, ECRF AND IACA

www.ssm.com.my

SSM encourages compliance with Malaysian company law through education and information services.

Fostering stronger ties with reputable professional bodies and international organisations

LOCAL AND INTERNATIONAL COLLABORATIONS

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

Forthcoming International Collaborations:

● ‘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 ).

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OUTREACH PROGRAMMES

• 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.

MEDIA ENGAGEMENT

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ACTIVE STAKEHOLDERS ENGAGEMENT

Companies

Commission

Stakeholders

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Forums,

dialogues

• 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 .

LEVERAGING MOBILE COUNTERS AND CIRCUIT COUNTERS

• Participate in events and expositions conducted by other authorities & institutions nationwide.

• Promote compliance amongst businessmen and publicize our initiatives

PARTICIPATING IN EVENTS AND EXPOSITIONS

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NUMBER OF MOBILE COUNTER FOR 2005 - 2008

NewspaperRadio

TV

020406080

100120140

123

48

Frequency Coverage

MEDIA COVERAGE 2008

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2006 2007 20080

200

400

600

800

1000

1200

1400

117

810

1379

NUMBER OF MOBILE COUNTERS FOR 2006 - 2008

No. of Programmes

20032004

20052006

2007

0%10%20%30%40%50%60%70%80%90%

100%

44%64% 71% 80% 91%

COMPLIANCE RATE

30

Thank You

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