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Higher score for Malaysia in corporate governance

Higher score for Malaysia in corporate governance

09 Oct 2014

Malaysia reinforced its regional standing in corporate governance, based on the recently released biennial Corporate Governance Watch 2014 report.

According to the report by the Asian Corporate Governance Association, in cooperation with CLSA Asia-Pacific Markets, Malaysia achieved an overall score of 58 per cent in 2014, compared with 49 per cent in 2007. Malaysia maintained its fourth position ranking in the region.

Malaysia was ahead of Taiwan, India, Korea, China, Philippines and Indonesia. The top three were Hong Kong and Singapore (first) and Japan (third).

Highlighted in the report were Malaysia’s continued and determined efforts in ensuring governance reforms, resulting in it becoming the only country in the Asia Pacific Region assessed that had constantly improved its scores in each of the last four surveys.

The report cited Malaysia’s consistent improvements included corporate governance culture, rules and practices, enforcement, accounting and auditing.

Malaysia’s progress was ascribed to the recently launched Malaysian Code for Institutional Investors- the first in ASEAN and second in emerging markets, voluntary poll voting by several companies and improved communication by corporate Malaysia.

These outcomes resulted from the implementation of recommendations under the Corporate Governance Blueprint launched by the Securities Commission in 2011.

Malaysia’s Securities Commission’s Audit Oversight Board was acknowledged in the report as “one of the better organized and transparent audit regulators in the region”.

Source: Adapted from NST, 9 October 2014 and ACGA Report 2014

Posted on : 09 October 2014