Malaysian Code Of Corporate Governance Mccg 2017

The securities commission malaysia sc released the new malaysian code on corporate governance mccg on 26th april 2017 which effectively replaced the 2012 version of the code.

Malaysian code of corporate governance mccg 2017. Malaysian code on corporate governance 2017 mccg under practice 6 1 of the mccg the board shall have in place policies and procedures to determine the remuneration of directors and senior management taking into account the demands complexities. The corporate governance strategic priorities 2017 2020 is the product of an extensive review by the sc on the state of corporate governance of public listed companies plcs in malaysia. The malaysian code on corporate governance. The securities commission malaysia sc released the new malaysian code on corporate governance mccg on 26 april 2017 which takes effect immediately.

Malaysia is driving further change. It recognises that there are aspects of corporate governance where statutory regulation is necessary and others where self regulation complemented by market regulation is more appropriate. In 2017 the. In the malaysian code on corporate governance 2017 mccg 2017.

The proposals in the consultation have been largely incorporated into the mccg and our earlier alert on the. The mccg was reviewed in 2007 and 2012 to ensure that it remains relevant and is aligned with globally recognised best practices and standards. Key features of the new approach are listed in diagram 1. The mccg was issued subsequent to a public consultation process consultation and supersedes the 2012 version of the code old code.

2 5 in 2017 the mccg which supercedes its earlier edition takes on a new approach to promote greater internalisation of corporate governance culture. The review drew inputs from domestic and international stakeholders lessons from past and recent corporate governance failures and changes in market structure and business needs. Since the last revision of the malaysian code of corporate governance mccg in april 2017 there has been considerable progress in this area in the country. The new mccg introduces substantial changes and recommendations with a view of raising the standards of corporate.

Board leadership and effectiveness 1 1 board responsibilities the board recognises the role it plays in charting the strategic direction and managing the business and affairs of the group including ensuring compliance with the group s corporate. Mccg 2017 principle a.