by BERNAMA / pic by TMR FILE
BURSA Malaysia Bhd has announced the issuance of an updated Corporate Governance Guide (CG Guide) fourth edition to ensure public listed companies (PLCs) are provided with a comprehensive and practical guide to the various recommended practices under the Malaysian Code on Corporate Governance.
Bursa Malaysia CEO Datuk Muhamad Umar Swift (picture) said the updated CG Guide will undoubtedly be instrumental in guiding 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,” he said in a statement yesterday.
The exchange said 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,” it said.
Among 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.