Frequently Asked Question
How to appoint a new manager in a company in Malaysia?
Under the Malaysian Companies Act 2016, a company may appoint a new manager in one of several ways. The most common way is for the board of directors to pass a resolution appointing the new manager, who then takes office upon being sworn in by the company secretary.
Other ways of appointing a new manager include ministry approval, shareholder vote, and court order. Whichever method is used, the process must be completed correctly in order to ensure that the new manager is legally appointed and can commence their duties. The board of directors is typically responsible for appointments at the managerial level, although there are various circumstances under which other parties may be involved.
Is it mandatory to inform CCM to appoint a new manager?
Yes. According to the Malaysian Company Act 2016, it is mandatory for a company to inform the CCM of any changes in their company’s management structure. This includes the appointment or resignation of a company manager. Failing to do so could result in fines and other penalties.
What is the responsibility of a manager in a company?
The manager is responsible for ensuring that the company complies with the Malaysian Company Act 2016. This includes ensuring that the company maintains accurate records of its directors, shareholders, and other officers; files annual returns and audited financial statements; and pays all applicable taxes. The manager is also responsible for ensuring that the company’s business operations are lawful and in accordance with applicable regulations.
What are the qualifications required to be a manager of a company?
There is no set of qualifications that are required in order to be a manager of a company. However, it is generally expected that managers will have significant experience in the field in which they will be managing the company. They should also possess strong leadership and communication skills.
How long does a manager's term last?
The length of a manager’s term will depend on the specific arrangement that is in place. For example, some managers may be appointed for a set period of time, while others may serve indefinitely until they are removed from their position.