The Companies Commission of Malaysia Training Academy (COMTRAC) is set to be a premier business and corporate learning centre in Malaysia. Established in April 2007 to function as the education and training arm of the Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia (SSM)) it plays a crucial role in promoting and elevating ethical business and good governance values to both the business and corporate communities.
SSM is a strong proponent of the philosophy of "enforcement by education". With 'BALANCE ENFORCEMENT' approach, SSM believes that education complements the effectiveness of our enforcement initiatives in ensuring voluntary compliance. COMTRAC strives to educate stakeholders and strengthen public awareness about the need, importance and benefits of complying with the corporate legal provisions. In light of the rigorous statutory requirements imposed on directors and officers, it is imperative for them to:
- keep abreast of the requirement of the Companies act 1965
- acquire an in-depth understanding of their duties and responsibilities
- extend knowledge of ethics and good governance values.
The Training Academy consists of four major departments. They are the Corporate Development, Center for International Programme, Staff Development and Administration and Resource Center. These four departments are supported by the following schools to plan, develop and conduct training programmes in the related area of specialization as well as undertake studies, surveys and research
- School of Business & Corporate Law;
- School of Civil Litigation, Prosecution & Investigation;
- School of Corporate Finance; and
- School of Staff Development.
Advisory Panel to determine the direction COMTRAC was appointed by the Commission under Article 19 (1) (2) of the Companies Commission of Malaysia Act 2001 (Act 164) and its members are: