Ministry of Commerce Postpones Implementation of Company Secretary Requirements Under Prakas 117 to January 2027

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Ministry of Commerce Postpones Implementation of Company Secretary Requirements Under Prakas 117 to January 2027
Ministry of Commerce Postpones Implementation of Company Secretary Requirements Under Prakas 117 to January 2027./B2B Asia News.

The Ministry of Commerce (MoC) issued a press release on February 26, 2026, sharing an update regarding the implementation of Prakas No. 117 (dated December 9, 2025) on the Simplification of Business Registration Procedures, and Announcement No. 0051 (dated January 8, 2026) on the Waiver of Penalties for Companies Failing to File Annual Declarations.

On the Waiver of Penalties for Companies Failing to File Annual Declaration (Announcement No. 0051)

Since the implementation of Announcement No. 0051, which limits the scope of the penalty applied to just one year for companies that have failed to file their annual declarations, the MoC announced that:

  • A total of 224 companies have requested the penalty waiver.
  • A total of 498 shareholders have voluntarily participated in a required Background Check to combat money laundering – among these shareholders, nine were identified on the Dow Jones Watchlist and were subsequently requested to be removed from the business registration system.


WATCH: Press Release on the Implementation of Prakas No. 117 MOC/Prk
Anthony Galliano, CIM


On the Simplification of Business Registration Procedures (Prakas No. 117)

Business registration through the CamDx system in January 2026 increased by 9.3 per cent compared to January 2025, and due to increased demand for new business registrations, the MoC is postponing the implementation of company secretary requirements to January 2027.

The MoC press release reiterates that the requirement to have a company secretary applies only to Limited Liability Companies, while sole proprietorships, startups, informal economy groups, and small and medium enterprises (SMEs) are not required to appoint a company secretary.

Further clarifying the distinction between a company secretary appointed by a company, and individuals who wish to professionally provide company secretary services, the MoC outlined:

  • Each limited liability company has the right to select and appoint its own company secretary, and all individuals can be selected and appointed by a company, without the need to comply with the qualification conditions, as stipulated in Article 25 of Prakas 117.
  • However, individuals who wish to practice and become professional company secretary service providers must meet the qualification conditions as stipulated in Article 25 of Prakas 117. To facilitate the private sector's implementation of Prakas 117, the MoC is preparing a draft Prakas to officially recognise a ‘Handbook on Business Registration and Lawful Business Operations (SOP)’ to supplement Prakas No. 117.