Finance Committee Report to be Released at SC Public Seminar

Kuala Lumpur, 10 March 1999

The Finance Committee Report on Corporate Governance will be released at a public seminar organised by the Securities Commission (SC) from 25-26 March 1999. The Report is a result of the concerted effort of the high-level Finance Committee on Corporate Governance - a committee which was established by the government as one of its key efforts to enhance the level of corporate governance in Malaysia.

The Committee which is chaired by the Secretary General of the Ministry of Finance and comprises Government and industry representatives, consulted with selected industry bodies to produce a comprehensive report detailing 70 principal recommendations which call for law, regulation and rule reform in critical areas, set out the Malaysian Code on Corporate Governance which comprises principles and best practices for good governance by listed companies and identify necessary measures on training and education.

The public seminar on corporate governance is organised by the SC (through the Securities Industry Development Centre [SIDC]) in its capacity as the Secretariat of the Committee. The seminar is aimed at enhancing general understanding of important initiatives taken by the Malaysian Government and private sector towards enhancing standards of corporate governance.

The seminar will highlight key aspects of the Finance Committee Report and explore private sector contribution to good corporate governance. Participants will also gain insight on efforts taken by other countries towards corporate governance reform.

The Second Finance Minister, Y. B. Dato' Mustapa Mohamed will deliver the keynote address. Speakers and panelists include members of the Finance Committee, top officials of the Malaysian government and regulatory bodies, key private sector leaders as well as experts on international initiatives on corporate governance. The speakers, among others, include:

Tan Sri Wan Azmi Hamzah, Chairman, Financial Reporting Foundation (FRF);
Ali Abdul Kadir, Chairman, Securities Commission (SC), Malaysia;
Dato' Mohd. Azlan Hashim, Executive Chairman, Kuala Lumpur Stock Exchange (KLSE);
Raja Datuk Arshad Raja Tun Uda, Chairman, Malaysian Accounting Standards Board (MASB);
Dato' Megat Najmuddin Khas, President, Federation of Public Listed Companies (FPLC);
Dato' C. Rajendram, Executive Deputy Chairman, Rating Agency Malaysia (RAM);
Gerald Meyerman, World Bank.

The seminar expects to benefit company directors, chief executives, accountants, auditors, company secretaries, legal advisers, investors, business professionals and academicians who wish to gain better understanding of latest developments in the area of corporate governance.
For registration and further information, please contact Cik Sharizan Shaharuddin at tel: (03) 654 8683 or fax: (03) 651 5811.

SECURITIES COMMISSION MALAYSIA

Issued on behalf of the Securities Commission. For assistance please contact the Corporate Affairs Department at tel no. 03-6548513 (Ann Teoh) / 03-6548107 (Ida Mariana Azmi) or fax no.: 03-6515078.