English

08 Dec 2017

VOICE OF MSWG

MSWG-ASEAN CG RECOGNITION 2017

A big thank you to all our friends who attended our award giving ceremony at the Majestic Hotel recently and all who have contributed one way or another towards the success of the event. Your support is greatly appreciated, and we hope each one of you had a good time. To those who did not receive an award, please do not despair as we have every confidence that you may be a winner next time round.

MSWG’s assessment of the top 100 PLCs in Malaysia indicates that our listed companies continue to take corporate governance ever more seriously.

We have found that the average CG Score among the basket of a hundred companies has consistently trended higher, from the 68.20 points measured in 2012 to 85.02 points in 2016.

MSWG’S QUICK TAKE ON-ONGOING CORPORATE DEVELOPMENTS

SUPERMAX CORPORATION BERHAD (“SUPERMAX”)

According to the announcement released by Supermax, Dato’ Seri Stanley Thai who is the Executive Director and Group Managing Director of the company has been convicted by the Securities Commission for insider trading offences under Section 188 of the Capital Markets and Services Act 2007. The Court has granted a stay of execution and an appeal has been filed against the conviction and sentence.

The company informed members of the public that it is business as usual in Supermax and that its Management team is committed to delivering good business performance and profitability in the interest of the company and its shareholders.

The position of the business remains intact and the Management stands strong in growing the business forward.

[Source: Supermax’s announcement on Bursa Malaysia’s website on 24 November 2017]

VOICE OF MSWG

POLICY MISSTEP

Property and construction players in the country have every right to be aggrieved this week with what appeared to be policy inconsistency on the apparent blanket freeze on development approvals for shopping complexes, offices, serviced apartments and luxury condominiums priced over RM1 million.

The sector, estimated to contribute around 10% of the local economy, is already grappling with a multitude of challenges, including rising costs, a lack of quality labour, foreign competition and weak buying demand amidst limited access to financing.

And now this.

Policy works best when it is well thought-out, with the long-term interests of all relevant stakeholders and the industry at heart. It must also be clear and unambiguous, communicated clearly to ensure the maximum possible reach at the best timing possible. And as much as possible, be irrevocable in nature.

PLEASE MARK YOUR CALENDAR
MSWG-ASEAN CORPORATE GOVERNANCE RECOGNITION 2017
AT THE MAJESTIC HOTEL, KUALA LUMPUR
ON WEDNESDAY, 6 DECEMBER 2017

With two (2) more weeks to go, we are pleased to receive tremendous support from companies and institutions for our event. We hope more companies and institutions will join us at our event where we will showcase the findings and results of the governance level of the public listed companies. As a recognition, awards will be presented by Yang Berhormat, Datuk Seri Johari Abdul Ghani, Finance Minister II to companies that have demonstrated exemplary high standards of corporate governance practices
Join us to celebrate with the winners of excellence corporate governance. It is a once-a-year opportunity for you to gain insights into their best corporate governance practices.