The Impact of 2021 Malaysia Code on Corporate Governance (MCCG) on Board Structure and Performance

September 9, 2021

Effective 28 April 2021, all Main and ACE Markets listed companies in Bursa Malaysia shall apply and report their practices based on the latest MCCG in their annual report.  The new practices introduced under this latest MCCG include:

  • Board Chairman in the Board Committee
  • Discouragement of appointment of Politicians as Board Member
  • Maximum Tenure of the Independent Directorship
  • Quality of Board Members
  • Conduct of Independent Performance Appraisal on Board Members
  • Board Agenda, Strategic Thinking and Performance on ESG
  • Female Directors in the Board

Besides touching on the latest MCCG updates and its impact on the landscape of the future board, this briefing will also highlight some of the shortcomings in the current governance practices in the Bursa listed companies and the adjustments needed to embrace these new practices by the board.