Malaysian Code Of Corporate Governance 2012

Essentially malaysian code on corporate governance 2012 mccg 2012 lists down wide principles of good governance and detailed recommendations on structures and processes as well as commentaries to aid understanding by giving out guidelines and examples.

Malaysian code of corporate governance 2012. Malaysian code on corporate governance 2012 the mccg 2012 was revised after taking into account changing market dynamics international developments and the need to continuously recalibrate and enhance the effectiveness of the corporate governance framework. In the words of chairman securities commission of malaysia. 2 1 the malaysian code on corporate governance mccg introduced in 2000 has been a significant tool for corporate governance reform and has influenced corporate governance practices of companies positively. This code will be effective on 31 december 2012.

The code was later revised in 2007 2007 code to strengthen the roles and responsibilities of the board of directors audit committee and the internal audit function. 2 2 the mccg reflects global principles and internationally recognised practices of corporate governance which are above and beyond the. The malaysian code on corporate governance code first issued in march 2000 marked a significant milestone in corporate governance reform in malaysia. The malaysian code on corporate governance code first issued in march 2000 marked a significant milestone in corporate governance reform in malaysia.

The malaysian code on corporate governance 2012 mccg 2012 introduces a broad range of principles best practices and recommendations aimed at enhancing the board effectiveness of listed companies. The mccg 2012 supersedes the 2007 code. Listed companies are required to report on their compliance with the principles and recommendations of the code in their annual reports. Malaysian code on corporate governance 2012.

Malaysia as an emerging market seeking to be competitive in global market has to alighn itself with changing investor expectations to avoid corporate debacles that has happened in other jurisdiction. The malaysian code on corporate governance 2012 mccg 2012 focuses on strengthening board structure and composition as well as recognizing the role of directors as active and responsible fiduciaries.