ARTICLES POST TO MUKHRIZ BLOG ON MSWG BY BAINCARDIN

Wednesday, 16 December 2009

source: http://www.baincardin.com/2009/12/malaysian-corporate-governance-index.html


Malaysian Corporate Governance Index 2009

Malaysian Corporate Governance Index 2009 (MCG Index 2009), the MCG award ceremony was held on Thursday, 10 December 2009 at 7pm at the Hotel Nikko, Kuala Lumpur. Organised by the Minority Shareholder Watchdog Group (MSWG), the award ceremony was held with the aim to promote the best practices in corporate governance amongst top 100 public listed companies in Malaysia and provide information as well as guidance on corporate governance standards which ideally, will promote self governance in companies.

Public Bank Bhd and Bursa Malaysia Bhd won the Overall Excellence Award of the Malaysian Corporate Governance Index 2009 for their achievements in practicing the highest level of corporate governance standard. The awards were presented by Deputy Minister of International Trade and Industry Datuk Mukhriz Mahathir and Securities Commission Managing Director Datuk Dr Nik Ramlah Mahmood.

Based on the MSWG, the top 100 companies on Bursa Malaysia that qualified to participate in the MCG Index 2009 scored an average 64.36% out of 100%. The MCG Index tracks the level of corporate governance of Malaysian companies on the stock exchange. MSWG chief executive officer Rita Benoy Bushon said the score of 64.36% will be the benchmark for listed companies to improve in terms of corporate governance level when they repeat the study next year. The final CG ratings were determined by an adjudicating committee based on specific and set parameters. The top 100 companies were selected based on the final MCG scores and were accorded A , A, B or C ratings. The companies were assessed based on information available from disclosures in their respective annual reports.

As one of the representative for Lembaga Tabung Angkatan Tentera, I am pleased and proud to support the management team and staff of MSWG for their dedication and hard work in making this Index a success. I believe that the importance of practicing good corporate governance is very significant in order to optimise shareholder value in the long term.

My team