What are the risks of becoming a company director?
Corporate Debt and Compliance Responsibilities
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Directors may be held responsible for matters relating to the company's banking transactions, loans, and certain statutory obligations
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Directors may be liable if the company fails to pay Income Tax or EPF contributions
Statutory Filing Responsibilities
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Failure to prepare or submit Audit Reports, Annual Returns, and other statutory documents on time
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May result in penalties or enforcement actions against directors
Legal and Criminal Risks
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If the company is involved in bribery, fraud, or illegal business activities
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Directors may also be investigated or held accountable
Directors' Statutory Duties
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Directors are required to fulfil their legal duties and responsibilities
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Breaches of directors' duties may result in fines or imprisonment
Personal Consequences
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Serious non-compliance may lead to being placed on SSM's Block List
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This may affect future directorships, business ventures, and corporate dealings
⚠️ Note: Do not casually accept appointments as a Non-Executive Director or Nominee Director simply for personal favors or small payments, as the risks can be as significant as being a loan guarantor.