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ACGA response to Securities Commission Malaysia on proposals to strengthen the corporate governance ecosystem

On Friday 31 July, ACGA submitted our response to Malaysia’s Securities Commission (SC) consultation paper on the corporate governance ecosystem. We commend the efforts to elevate governance standards and to undertake the consultation to receive feedback from relevant stakeholders on specific proposals relating to the Malaysian Code on Corporate Governance (MCCG).

ACGA broadly supports SC’s proposals to enhance practices of corporates in the four areas of the consultation paper, which covered the following areas:

1. Enhancement of Oversight on Company Secretaries of PLCs
2. Governance Practices in Companies with Concentrated Ownership
3. Evolving Expectations on Technology Governance
4. Establishment of a Shareholder Litigation Fund to Strengthen Corporate Governance and Investor Protection 

We view the proposals in the consultation paper as a significant effort to advance corporate governance practices and thank our members who provided inputs for our response. The ACGA full response can be found here.