Kuala Lumpur, 17 December 2021 - Bursa Malaysia Berhad (“the Exchange”) today announced the issuance of an updated Corporate Governance Guide (“CG Guide”), with the objective to ensure that our public listed companies (“PLCs”) are provided with comprehensive and practical guidance to the various recommended Practices under the Malaysian Code on Corporate Governance, issued by the Securities Commission Malaysia on 28 April 2021.
The CG Guide adopts a thematic approach to provide PLCs with a focused view of the Malaysian Code on Corporate Governance, beginning with the board and its responsibilities, addressing audit and risk management matters and then concluding with corporate reporting and relationship management with stakeholders.
The CG Guide constitutes a key component of the Exchange’s comprehensive corporate governance framework for our PLCs. In essence, it aims to inculcate better corporate governance practices through mandatory requirements under the Listing Requirements as well as voluntary best practices via the CG Guide.
Amongst the extensive range of CG-related best practices as well as issues covered by the CG Guide, emphasis is given to:
- the involvement of board chairmen in board committees,
- the exercise of proper and effective oversight on material sustainability matters, • the formulation of a fair, transparent and well-structured remuneration policy, and • putting in place transparent shareholder engagement practices for virtual general meetings.
“The updated CG Guide will undoubtedly be instrumental in guiding our PLCs to inculcate good CG practices, build competent and accountable boards with high levels of ethics and integrity, in line with global standards. This is a positive step towards enhancing market confidence in our PLCs,” said Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia.
CG Guide (4th Edition) is available on BURSASUSTAIN via the following link:
https://bursasustain.bursamalaysia.com/droplet-details/resources/corporate-governance guide-4th-edition
