Qualampur: Malaysia’s public-listed company (PLC) boards and management have been urged to consider the board regime as a competitive advantage rather than protection against risks.
Barsa Malaysia CEO Datuk Fadal Mohammed said that strong governance is important as the Malaysia pushes to increase the diversity of the board, by 2033, by 2033, the corruption of Transparency International in the corruption indication index (CPI) of the world in the top 25 countries of the world increases stability monitoring and status.
“An effective board brings a variety of freedom, attitude and strategic inspection of the mind that enhances a company’s ability to compete. Strengthen the exposure, strategy and stories connecting the capital allocation. Investors reward.”
FAD’L also called the partners of the ecosystem to continue collaboration with Barsa Malaysia to ensure that the government’s outline was practical and scalable in companies of all sizes. “We welcome the constant input of maricsa so that guidance documents and toolkit be practical and for each size boardroom,” he said
Barsa Malaysia, he said, will continue to work with MAICSA and other stakeholders to build a culture of market trust, transparency and accountability.
As Malaysia aspires to rank in the top 25 countries of Transparency International by 2033, Fadal insisted that the government will play an important role in helping the professionals meet the organizations in meeting global standards.
In addition, he highlighted the progress in the Securities Commission Malaysia’s Corporate Governance Monitor 2024, showing that more than 96% of the PLCs have adopted the monitoring of stability at board and management levels.
Women now reside in 27% posts of PLC board from 12% in 2016, with representation with up to 32.2% climb in the top 100 PLC.
Independent directors are responsible for only more than half of all board seats, while 63% of companies ensure that their presidents are not members of audit, enrollment or remuneration committees.
Adopting levels are also higher, in which corporate governance recording compliance compliance rate is also over 90%of the Malaysian code 30 out of 48 with the best practices.
To support these reforms, FAD’L said, Barsa has invested to provide FTSE ESG ratings for all main and ace market PLCs, giving investors a reliable benchmark.
Bursa has also aligned listing requirements with the National Sustainability Reporting Framework and has enhanced its centralized stability intelligence platform with IFRS Scope 1 and Scope 2 reporting modules, which is accessible without any cost to PLC.
FAD’L stated that Barsa has participated with the players of the industry to score decarbonization measurement and introduce the initiative of capacity-making such as the chairperson circle and compulsory recognition program to equip the initiative with governance and stability skills.
“Through simultaneous regulatory guidance, professional excellence and industry cooperation, we can create institutions that are moral, flexible and globally competitive,” he concluded.
