KUALA LUMPUR, 9 October 2020 - Tune Protect Group Berhad (“Tune Protect” or “the Company”) receives two awards from the Minority Shareholders Watch Group (“MSWG”) in the MSWG-ASEAN Corporate Governance Award 2019. There are six categories of awards and Tune Protect was ranked first in two of the categories, namely the Excellence Award for CG Disclosure (Market Cap between RM300 million to RM1 billion) and Merit Award for Most Improved CG Disclosure.
The MSWG-ASEAN Corporate Governance Award is an annual awards programme which recognises the achievements of Malaysian PLCs that have demonstrated high standards of Corporate Governance (“CG”) practices and they are assessed using the ASEAN CG Scorecard Methodology.
A total of 866 Malaysian public-listed companies (“PLCs”) were assessed in 2019. The assessment was conducted based on the PLCs’ latest annual reports, CG reports and sustainability reports published before 31 July 2019. Other sources of information include corporate websites, public announcements on Bursa Malaysia, as well as other publicly available information such as media and analysts’ reports.
“I congratulate Tune Protect for the well-deserved recognition. There are only 35 PLCs recognised with awards from a total 866 PLCs - that puts the Company in the top 4%. Tune Protect has shown remarkable improvement in its CG practices and disclosure that makes them the winner of the ‘most improved category”, said MSWG chief executive officer Devanesan Evanson.
“These awards represent the good work that the Tune Protect team had put in. It is a testament of our commitment towards continuously achieving the highest standards of ethics, integrity and corporate governance. We are delighted to be acknowledged among the best by MSWG,” said Koot Chiew Ling, Chief - Corporate Development & Investor Relations, Tune Protect Group Berhad.
Tune Protect believes that a strong corporate governance framework and culture translates to a strong company that delivers for all its stakeholders. As a financial services institution, the Company, with guidance from the Board of Directors, will continue to improve and step up on its CG standards, adopt best practices recommended by relevant regulatory bodies, and provide good disclosures on its publicly accessible platforms for greater transparency to its stakeholders including retail and minority shareholders.