Kuala Lumpur, 28 May 2010

SC hosts Working Group Meeting of Asian Roundtable on Corporate Governance

The Securities Commission Malaysia (SC), together with Bursa Malaysia hosted the Working Group Meeting of the OECD Asian Roundtable on Corporate Governance (ARCG) in Kuala Lumpur on 25-26 May 2010. The ARCG is an initiative of the OECD in partnership with the Government of Japan.

Senior policy makers and market practitioners from Asian countries, multilateral agencies and regional associations discussed strategies in developing a new roadmap for Asia’s corporate governance landscape. They also reviewed existing efforts in corporate governance in the region since the establishment of the ARCG in 1999.

The meeting also discussed steps by these countries in implementing the recommendations contained in OECD’s 2003 White Paper on Corporate Governance in Asia, key challenges in implementing the recommendations as well as future priorities on enhancing corporate governance in the region.

At the meeting, priority areas identified for the next White Paper included reducing the gaps between standards and performance, enhancing enforcement efforts, board performance and quality, corporate disclosures and the role of stakeholders.

The ARCG was set up to support decision-makers in their efforts to improve corporate governance in Asia through informal peer review of corporate governance policy frameworks and practices.

The meeting was attended by delegates from Bangladesh, China, France, Hong Kong, India, Indonesia, Malaysia, Pakistan, Singapore, the Philippines, Taiwan, Thailand and Vietnam and the OECD.

The observers include representatives from the World Bank, the Asian Development Bank, the International Corporate Governance Network, the Asian Corporate Governance Association, Malaysia’s Minority Shareholders Watchdog Group and eStandards Forum.