Introduction of Corporate Governance After the 1997 Asian financial crisis, investor confidence in Malaysia was severely affected. Since the enactment of the Malaysian Corporate Governance Code in 2000, the Securities Commission Malaysia has continued to improve its governance framework, where the code has been reviewed and securities have been amended. In 2011, the Corporate Governance Blueprint was published and used as the basis to deliver the Malaysian Corporate Governance Code 2012 (MCCG 2012). Corporate governance is generally the process and structure used to direct and manage the business and affairs of the company, while defining the relationship between stakeholders and management with their interests in mind. In order for listed companies like Makkaferri Berhad to improve board and management effectiveness, they are required to comply with the MCCG 2012 and report their compliance in their annual report. Principle 1: Establish clear roles and responsibilities Under the MCCG 2012, it states that the board should ensure that it is supported by an appropriately qualified and competent company secretariat. The role of the secretary is essential in every company. In addition to acting as a liaison between the company and various stakeholders, they are also responsible for providing support by ensuring compliance with the board's policies and procedures. In general, the Board regularly consults the Secretary on procedural and regulatory requirements. As Makkaferri Berhad does not have a secretary, it is recommended that the company appoints a suitably qualified and competent secretary who can support the board in carrying out its roles and responsibilities. Before the selection process, the company should list the necessary requirements...... in the middle of the sheet ......69E, should give written notice to inform the company of its interests, where such notice should be given within one month if they were substantial shareholders on the date this division came into operation, or within seven days if they became substantial shareholders after that date. ConclusionAlthough it is not a law to adopt the standards, companies should go beyond the minimum prescribed by the regulation and adopt it as part of their governance structure and processes. Because the code is not universal or perfectly suited to each individual company, they can determine the best approach to adopt the principles based on their individual needs. With strong governance, not only will decision making be more effective and efficient, but it will also contribute to better access to capital and information for long-term sustainability and prosperity..
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