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SCMP Reporter

Having a broad knowledge of the entire company is vital in this ever-changing and essential corporate role
Gatekeeper, housekeeper and the ear of the chairman and a company's most senior executives, a company secretary is a vital member of top management in private  and listed companies in Hong Kong.
Indeed, this high-flying role is dedicated to navigating organisations through ever-changing local and international legal and financial requirements.
According to Brian Lo,  a council member of the Hong Kong Institute of Chartered Secretaries (HKICS)  and vice-president and company secretary of APT Satellite Holdings,  a provider of satellite communications services, the role of a company secretary  is  very broad.
'Our main role is to take care  of legal matters in the company.  Our expertise is more important in listed companies, as we handle legal matters, compliance and all statutory matters,' Dr Lo said.
In the aftermath of the Enron case, corporate governance has had a strong part to play in this profession, enforced by tight requirements imposed by the Hong Kong stock exchange.
'We always say the company secretary is the conscience of the organisation,' said April Chan,   the company secretary for CLP Holdings,  as well as a council member of the HKICS. 'We are  different from personal secretaries. I don't  know shorthand and my typing is terrible, but there's one thing in common, which is housekeeping matters.'
According to Ms Chan, although private companies can and do recruit company secretaries, they are usually hired by listed companies thanks to the listing rule requirement. Under this rule, listed companies must have a qualified company secretary - someone who is a barrister or a member of the HKICS.
At present, there are two routes to becoming qualified as a company secretary, according to Dr Lo. One option is to choose to go through the International Qualifying Scheme (IQS) after completing your first degree. The IQS incorporates examinations in eight subjects - although accountants, lawyers or individuals with relevant first degrees can obtain various exemptions.
Having passed and then accumulated a sufficient amount of work experience, people can qualify as associates of the HKICS and, after working for even longer, eventually become fellows.
Above all, company secretaries need to have a very broad knowledge to maintain a senior position in a company, ranging from strategic and operation management to local financial accounting, corporate law and, perhaps most importantly, corporate governance. An understanding of financial management, corporate secretaryship and administration is also essential, as is an appreciation of legal matters.
The alternate route to becoming a company secretary is to qualify as a chartered secretary. Dr Lo noted that first-degree holders can choose to take a master's degree in corporate governance from  City University,   Polytechnic University or the Open University.
Regardless of which means of entry would-be company secretaries choose, their role demands various essential skills, Ms Chan said,  including negotiation, problem-solving and presentation skills, as well as critical thinking and the ability to think outside the box.
'People may be under the impression that  company secretary is a boring profession, that you just comply with the rules and go by the book, but  that is not the case,' she said. 'If you want to manage the position in a lively manner, there are a lot of opportunities and you need a lot of design and presentation skills, too.'
As far as mainland opportunities are concerned, the role enjoys slightly different recognition, partly thanks to the mainland's two-tier court system.
Company secretaries in the mainland are known as board secretaries, while the post itself has only evolved in recent years. Indeed, it has only been explicitly defined since October 2006, when the Company Law of the People's Republic of China specified a board secretary's responsibilities.
'The company law affirms that board secretaries must be at a senior executive level of a company,' Dr Lo said. 'It's very clear in China that they realise the importance of the company secretary. It is a professional role and also a top management position.'
On the other hand, despite such recognition, the role in  the mainland does not enjoy any particular recognised professional qualifications, Ms Chan added. That said, job opportunities  there are good, due in a large part to the short supply of good, experienced company secretaries.
In Hong Kong,  the market for talented company secretaries has  been boosted by the rapid increase in the number of listed companies, with more than 1,400 in the SAR at present.
'Right now, it is quite hot,' Dr Lo noted. 'More and more companies and enterprises [are] in Hong Kong and we believe that more and more job opportunities for chartered secretaries are becoming available.'
Key players
Company secretarial assistant
Assistant company secretarial officer
Company secretarial officer
Senior company secretarial officer
Assistant manager
Company secretarial
Assistant company secretary
Company secretarial manager
Company secretary
Jargon
Book closing the closing of register of shareholders of a listed company for a short period of time, usually for a few days, for the determination of the list of shareholders
Substantial shareholder a person who is entitled to exercise or control 10per cent or more of the voting power at any general meeting of a listed company under the listing rules in Hong Kong
A show of hands a voting arrangement where a legitimate shareholder, a duly authorised representative of a company or a proxy has one vote on each resolution at a general meeting, irrespective of the number of shares the company holds
Price-sensitive information a piece of information which is likely to affect the market activity and the price of the securities



Good housekeeping