Opening Keynote Address at the CGI Global Governance Summit 2026
Governance, Sustainability & Value Creation
Speaker: Dato’ Mohammad Faiz Azmi, Chairman, Securities Commission Malaysia
Location: KLGCC Convention Centre, Kuala Lumpur Delivered: 22 September 2026
Ms. Gillian Meller, President, Chartered Governance Institute (CGI) Global, Ms. Dipa Kaur, President, Chartered Governance Institute of Malaysia, Distinguished council members, delegates, speakers, Ladies and gentlemen.
Assalammualaikum and good morning.
It is a pleasure to be here at the CGI Global Governance Summit 2026.
Let me begin by congratulating CGI Malaysia and CGI Global for convening this platform, which brings together governance professionals, board leaders and policymakers from around the world.
When people speak of corporate governance, the spotlight often falls on boards, management, investors and regulators. Yet at the heart of this ecosystem is another group whose contribution is often less visible, but no less important.
They are the governance professionals, often the ‘adults’ in the room. They know the decisions made by the Boards, their rationale, the next actions and occasionally, the blind spots overlooked. Many of you here are the institutional memory, conscience and compass of the organisation. It is a responsibility that you must continue to uphold even in the face of change.
Before I go further, allow me to begin with a paradox. Currently, corporate governance has never been more robust. We have more laws, regulations, disclosures, oversight and board scrutiny than ever before. And with social media, everyone feels entitled to express a view on how your company is doing.
Yet governance failures persist. Misconduct occurs causing public trust to remain fragile. And so the question is why do these situations continue? Ultimately, governance is not just about structures, rules, policies or disclosures alone. These are indispensable but they are only enablers.
Fundamentally, it is about having the values that you hold and the courage to make the right decisions. In the end, meaningful outcomes depend on the judgement, integrity and actions of those entrusted to make it work.
In other words, good governance is not the product of any single framework, institution or individual. It requires a collaborative ecosystem that prioritises trust, accountability and sustainable value creation.
Governance in a Complex Environment
Ladies and Gentlemen,
Today’s boards operate in an environment shaped by technological disruption, artificial intelligence, evolving sustainability expectations, geopolitical uncertainty and increasingly demanding stakeholders.
Issues once considered peripheral to corporate strategy are now becoming central to boardroom discussions.
Companies must therefore navigate these complexities, anticipate future risks and opportunities and continue to create sustainable value. In this environment, governance must go further than building strong systems and effective controls.
For many years, governance discussions have understandably focused on preventing corporate failure, and rightly so.
Moving forward, it must also enable organisations to make better decisions amid uncertain and evolving circumstances and ultimately being able to deliver long term value.
In essence, governance must be a driver of value creation. The OECD highlighted this nexus more than a decade ago in its Corporate Governance, Value Creation and Growth report, that is, the strong link between good governance, growth and long-term performance.
Today, this connection is receiving renewed attention.
Investors and stakeholders increasingly expect boards not only to safeguard value, but also to demonstrate how governance contributes to resilience, competitiveness and sustainable outcomes.
When governance is treated merely as a compliance exercise, its greater purpose is lost. A company can be fully compliant and yet struggle due to poor strategy, excessive risk-taking or an inability to adapt.
However, when governance shapes the quality of decisions, it becomes a competitive advantage.
It is precisely through this lens that we approached revisions to the Malaysian Code on Corporate Governance (MCCG) that will be issued this year.
MCCG 2026
Ladies and gentlemen,
Increasingly, the important questions to ask are whether boards are equipped for what lies ahead. This includes whether they are sufficiently prepared for emerging technological risks and opportunities, as well as to meet stakeholder expectations and long-term goals. This is important as the capital market provides income for many savers and pensioners.
Therefore, the forthcoming MCCG 2026 has been guided by a simple reality: while the principles of good governance remain timeless, the environment in which governance operates is changing rapidly.
This means that the governance frameworks that have served us well in the past may not be sufficient for the future. They must continue to evolve as business models, technology and expectations change.
This formed the basis of the Securities Commission Malaysia’s (SC) Discussion Paper last year and in July this year, we issued a follow up Consultation Paper which targeted specific proposals to strengthen Malaysia's corporate governance ecosystem.
Underpinning MCCG 2026 will be the core principles of accountability, integrity, transparency and effective oversight. Concurrently, it will also encourage more forward-looking boards and organisations - to address issues that will shape long-term value creation.
This complements the MYValue Up programme launched in April this year for the larger listed companies. While value creation is ultimately driven by business strategy and execution, good governance provides the foundation for better decisions, trust and resilience.
Evolving Role of Governance Professionals
Throughout our consultations with stakeholders for MCCG 2026, there was a lot of discussion about the role of one group of governance professionals - the company secretaries.
The company secretaries are not only expected to ensure legal compliance on company matters and maintaining records. Increasingly, their role is multi-faceted. From trusted advisers to facilitating effective board decision-making and even to offer a critical and constructive internal voice when decisions are made.
There may be occasions where the most convenient course of action for a Board is not necessarily the best. There may even be times when asking the right question matters more than having the correct answer. An informed decision takes into account all views both positive and negative. This is where company secretaries can play a vital role in ensuring the chairman and members of the Board are doing the right thing in the right way.
Indeed, as expectations of the boards increase, the role of governance professionals must also evolve.
It was therefore unsurprising that the feedback we obtained suggested a need to further strengthen the competence, capabilities and professionalism of company secretaries. While the role is regulated, the competency expected is not consistently applied.
In response, the SC is exploring the establishment of a multi-stakeholder taskforce that brings together regulators and professional bodies. Its proposed aims include developing a standardised competency framework in line with the evolving role of company secretaries in Malaysian-listed companies. We are also working with Bursa on the regulatory framework for company secretaries of listed companies to address, among others, their fit and properness as well as accountability.
Closing
Ladies and gentlemen,
In closing, governance cannot be measured solely by the number of policies adopted, disclosures produced or committees established.
Its true test is whether it helps organisations make better decisions, strengthens their resilience, builds trust, as well as supports sustainable long term value creation. These are outcomes that resonate with this summit’s theme of Governance, Sustainability and Value Creation.
As we look ahead, the challenge is to ensure that governance remains relevant, effective and responsive to the realities confronting boards today. This is the thinking that underpins the next phase of Malaysia's corporate governance journey.
At the end of the day, the quality of governance will be shaped by the values and the knowledge of people who bring those principles to life.
With that, it is my privilege to officially open the CGI Global Governance Summit 2026 and I wish you a productive and meaningful conference.
The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.
