Incorporation is a legal process used to form a corporate entity or company. In Malaysia, Suruhanjaya Syarikat Malaysia (SSM) is the statutory body formed as a result of a merger between the Registrar of Companies (ROC) and the Registrar of Businesses (ROB) in Malaysia which regulates companies and businesses.

The Companies Act 2016, has been simplified allowing for significant savings in cost and time. As such, we in Usha Management Services via “MyCoID” register on behalf your business. We will do all the necessary to incorporate with SSM :-

1. One (1) Name search.
2. Registration fee of RM1,000 payable to SSM/ROC.
3. Preparation of incorporation documents ie Directors’ Circular Resolutions.
4. Certificate of Incorporation/Notice of Registration.
5. Statutory records – minutes book and statutory registers book.
6. Opening the first current account in any of the local bank.

We in Usha Management Services, provides your company with secretary services as per listed in the secretary Association, which is governed and regulated by the Suruhanjaya Syarikat Malaysia (“SSM”).

Our roles at one glance are :- 1. An Officer of the company and advisor to the Board.
We familiar with the provisions of the Memorandum and Articles of Association (if any) of the company. We well versed in the compliance of numerous statutory and regulatory bodies. We responsible to ensure correct procedures are followed and remains compliant with the Company’s Memorandum and Articles of Association (M&A) (if any) and the Companies Act. Company Secretarial Service

2. Compliance with Statutory Requirements and Advisory.
We has the responsibility to ensure the company is compliant with legislation as mentioned in Companies Act 2016. We as the official liaison party for the company to communicate, prepare, and submit Statutory Returns with the Suruhanjaya Syarikat Malaysia (SSM). We will ensure that any alteration in the company’s statutory information will be lodged with the registrar of Companies together with the duly completed [relevant prescribed] documents in a timely manner. We advise the board of directors of the relevant dates for holding the company’s annual general meeting (if any).

3. Preparation of Board Meetings (if any).
We required to attend any of the board meetings and provide general advice on matters relating to company secretarial matters when required. We are also link between shareholders and the company. In other words, we will send out notices (circular resolutions) and liaise with shareholders regarding any shareholder meetings and the Annual General Meeting (AGM) (if any) or Extraordinary General Meeting (EGM) (if any).

4. Filing annual returns.
We also responsible for the completion and timely submission of the company’s annual return and full accounts by the statutory deadline.

According to Section 248 (1) of the Companies Act 2016, “the director of every company shall prepare financial statements :

within 18 months from the date of its incorporation.
subsequently, within 6 months of its financial year end”
Financial Statement”, in layman terms, management accounts consists of the followings :

1. General ledger.
2. Profit or loss statement.
3. Financial position statement.
4. Trial Balance.
5. Others ie debtors’ ledger, suppliers’ ledger etc.

As such, the Director has to appoint a book keeper/accountant who are knowledge to complete full set of accounting of the company.

We, in Usha Management Services provide a comprehensive range of accounting and bookkeeping services in Malaysia for your newly established or existing company. Our accountants can compile your accounts information monthly / quarterly or yearly for Sales and Services Tax submission, annual statutory audit, monthly Human Resources (HR) services and corporate tax submission to Inland Revenue Board.

According to Section 245 (2) of the Companies Act 2016, “the directors and managers of a company shall cause appropriate entries to be made in the accounting and other records within 60 days of the completion of the transactions to which the entries relate”. Therefore, in Usha Management Services, we are maintaining a timely accounting system that allows you to manage your accounts cost-effectively.

We also provide cloud accounting services for sole proprietors, partnerships, limited liability partnerships and also companies. In cloud accounting, our clients able to access the accounting records remotely through the Internet or other network via a cloud application service provider.

Audited Financial Statement

In Malaysia, company incorporated under Companies Act 2016, have to audit its financial statements. According to Section 248(2) of the Companies Act 2016,” financial statements shall be duly audited before the financial statement are sent to every member”.

We provide following services to our clients :
Statutory Audits
- Legally required review/examination of the accuracy and fairness of the Financial Statements of private limited companies, limited company and association etc.
Non - statutory Audits
- To review and verify the Financial Statement for the audit exempted private listed company.
Special Audits and Reports
We, in Usha RL & Co provide services related to statutory and non-statutory audit.
Malaysia Audit

Unaudited Financial Statements

Pursuant to subsection 267(2) of the Companies Act 2016, the Registrar may exempt any private company from having to appoint an auditor according to the criteria and conditions. Any company that elects to be exempted from audit must lodge its unaudited financial statements with the Registrar accompanied with the required certificate in compliance with sections 258 and 259 of the Companies Act 2016. We, in Usha RL & Co also provide services to prepare the Unaudited Financial Statement.

If you are no longer need the company in Malaysia and do not wish to continue incurring costs to maintain the company, the best way is to close down the company.

In order to close a company in Malaysia, there are two ways to do so:

1. Strike Off
2. Winding Up (Members’ Liquidation)

We, in Usha Management Services provide services related to strike off and winding up of companies at a reasonable price.

What is Service Tax?

Service tax that is a tax charged and levied on taxable services provided by any taxable person in Malaysia in the course and furtherance of business.
Taxable person is any person who belongs in Malaysia and is prescribed to be a taxable person.
Taxable service is any service which prescribed to be a taxable service.
Tax is due and payable when payment is received for taxable service provided to customer by the taxable person.
In Usha Management Services, we provide services in preparing and submitting the Form SST-02 on a by monthly basis.

Payroll summary
Allowance and deduction reports.
Salary reconciliation reports.
All statutory forms (e.g. EPF, SOCSO, Income Tax, HRDF, etc.).
Staff salary slip.
Prepare & reconcile annual payroll register.
Preparation of Borang E and Borang EA.
Employer Registration – Register company with relevant authorities, including IRB, EPF, SOCSO, etc.
New Hires/ Terminations – Prepare & apply for new EPF & SOCSO membership & notify employment details of existing accounts.
Apply for individual income tax file number.
We do offer cloud payroll services.