When will the MCCG be effective?
The MCCG is effective immediately from 26 April 2017.
Companies will be required to provide meaningful explanation in its annual report on how it has applied each practice in the MCCG. The first batch of companies that will be required to report their application of the MCCG will be companies with financial year ending 31 December 2017.
To illustrate further, where a company’s financial year ends on 31 December 2017, disclosure will be required for activities from 1 January 2017 to 31 December 2017 and should be made in the annual report published in 2018.
Where a company’s financial year begins on 1 July 2017, disclosure will be required in relation to activities from 1 July 2017 to 30 June 2018 and should be disclosed in the annual report published in 2018. Listed companies are however encouraged to make an early transition to the principles and practices elaborated in the MCCG.
For resolutions requiring ’two-tier voting’ process under Practice 4.2 in the MCCG, the effective date will be for resolutions to be tabled at general meetings after 1 January 2018.
Where can I obtain a copy of the MCCG?
The MCCG can be downloaded here (pdf – 339 KB) or a copy can be purchased from the Securities Industry Development Corporation Bookshop, Ground Floor, Securities Commission Malaysia.
For further enquiries on the MCCG, email [email protected].
Updated: 26 April 2017