February 2009 : Malaysian Alliance of Corporate Directors formed

MACD is a not-for-profit Company Limited by Guarantee established by directors, for directors and of directors to be the advocate representing the broad interests of corporate directors, corporate professionals and business leaders.
MACD is actively engaged in:

    • providing a forum for members to network and exchange ideas, for the advancement of business and public affairs.

    • encouraging education and lifelong learning, for the improvement in members’ personal competencies.

    • assisting members in improving their board’s efficiency and effectiveness as a whole through our services and interventions.

    • Establishing and maintaining contacts amongst business leaders at the highest level, locally and internationally. These associations and affiliations represent a global network of thousands of senior executives and captains of industries, reaching every corner of the business landscape

June 2007: Malaysian Investor Relations Association formed

MIRA is a company limited by guarantee. The office of its Chief Executive reports to an Independent Board comprising IR professionals and senior management of leading PLCs.

MIRA is Malaysia’s first and only professional association committed to developing and advancing the status and integrity of IR Professional and the proficiency of its members in the field of IR. It is the only professional association that promotes the views of PLCs on IR and Malaysian IR Professionals to the investment community, regulatory bodies and government.

MIRA is sponsored by Bursa Malaysia and funded by Capital Market Development Fund.

MIRA’s vision is to create a more efficient, shareholder-friendly capital market through excellence in Investor Relations. Its mission is to use Investor Relations to promote corporate governance, transparency and enhance shareholder value for all.

April 2001 Onwards: Education and Training of Directors pursuant to Bursa Malaysia’s Listing Requirements.

A crucial aspect of efforts to improve corporate governance standards involve the training and education of directors. Because corporate governance extends beyond the mere promulgation of rules, into the realm of culture and shared values, it was thought necessary to influence corporate thinking on governance issues at the appropriate intellectual and pedagogical levels.

The revamped exchange requirements (released 22 January 2001) requires all directors of listed companies to undergo continuous training to equip themselves for the effective performance of their duties as directors and to attend such programmes as may be prescribed by the exchange from time to time.

In 2001, the exchange required all directors of listed companies to attend the Mandatory Accreditation Programme (MAP) which seeks to equip directors with a broad knowledge and understanding of various provisions, rules and regulations that would help enhance the effectiveness of the directors in discharging their duties.

At the initial phase, in July 2003, directors of listed companies were also required to attend the Continuing Education Programme (CEP) which was made compulsory for 2 years i.e. in 2003 and 2004. CEP created greater awareness on the importance of continuing training and skill enhancements for directors and promoted a culture of continuous learning and training. However, from 1 January 2005 onwards, the board of directors of listed companies will undertake the onus of evaluating and determining the specific and continuous training needs for their directors on a regular basis. As such, instead of accumulating points under the CEP, directors will be required to attend such training as may be determined by their boards of directors. More importantly under this framework, listed companies must disclose whether their directors have attended training in the annual reports issued for financial year ending on or after 31 December 2005.

August 2000: Minority Shareholder Watchdog Group formed

The independent Minority Shareholder Watchdog Group (MSWG) was established in August 2000 following the recommendation of the Finance Committee Report on Corporate Governance. Recognising the role of institutional investors as key governance agents, the raison d’être for the MSWG was to encourage independent and proactive shareholder participation in listed companies by harnessing the ability of large albeit minority institutional investors to monitor and effect change in listed companies.

The MSWG is a company limited by guarantee and its members represent the largest institutional funds in the country (i.e., the Employees Provident Fund, Lembaga Tabung Angkatan Tentera, Lembaga Tabung Haji, Pertubuhan Keselamatan Sosial and Permodalan Nasional Berhad).
Among MSWG’s key objectives are to become the think-tank and resource centre for minority shareholders, to influence the decision-making processes in listed companies, to recommend action against the management of listed companies by aggrieved minority shareholders, and to continuously monitor listed companies for breaches and non-adherence to good corporate governance practices that are detrimental to the rights and legitimate interests of its minority shareholders. The group seeks to act as a mechanism for collective action for its members in proxy voting on their behalf at companies’ annual general meetings and extraordinary general meetings.

In recognition of its advisorial role to investors, the SC granted an investment adviser’s licence to MSWG on 4 March 2002. In fulfilling its commitment towards the MSWG ideal, on 10 April 2002, the SC disbursed a grant of RM250,000 to assist MSWG in its setup cost.