Malaysia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment
This ROSC assessment of corporate governance in Malaysia benchmarks law and practice against the OECD Principles of Corporate Governance, and focuses on listed companies. Important corporate governance reforms have been implemented in Malaysia since 1998, when a high-level Finance Committee on Corpo...
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| Format: | Corporate Governance Assessment (ROSC) |
| Language: | English en_US |
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Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/06/7447405/malaysia-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/8765 |
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okr-10986-8765 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTING STANDARDS ACQUISITION ACQUISITIONS AUDIT COMMITTEE AUDIT COMMITTEES AUTHORITY BANKS BOARD MEMBERS BREACH OF DUTY BUSINESS COMMUNITY CAPITAL MARKETS CEO CIVIL PENALTIES CIVIL PENALTY CLASS ACTIONS COMMON LAW COMPANIES ACT COMPANY COMPANY LIMITED CONFLICTS OF INTERESTS CONTINUOUS DISCLOSURE CONTROLLING SHAREHOLDERS CORPORATE BODY CORPORATE GOVERNANCE CORPORATE GOVERNANCE INITIATIVES CORPORATE GOVERNANCE PRINCIPLES CORPORATE GOVERNANCE REFORM CORPORATE GOVERNANCE REFORMS CORPORATE INFORMATION CORPORATE LAW CORPORATE LAW REFORM CORPORATE OWNERSHIP CORPORATE PERFORMANCE CORPORATE RESTRUCTURING CORPORATIONS COURT ACTION DECISION MAKING DECISION MAKING AUTHORITY DERIVATIVE ACTION DERIVATIVE ACTIONS DISCLOSURE OF INFORMATION DUE DILIGENCE ECONOMIC DEVELOPMENT ECONOMIC PERFORMANCE ENFORCEMENT ACTION ENFORCEMENT POWERS ETHICAL STANDARDS FEDERAL GOVERNMENT FIDUCIARY DUTIES FIDUCIARY DUTY FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL STATEMENTS FIRMS FOREIGN INVESTMENT FOREIGN PARTICIPATION FULL DISCLOSURE GOLDEN SHARE GOLDEN SHARES GOOD CORPORATE GOVERNANCE GOVERNANCE ENVIRONMENT GOVERNANCE ISSUES GOVERNMENT OFFICIALS INCORPORATED INDEPENDENT AUDIT INDEPENDENT DIRECTOR INDEPENDENT DIRECTORS INITIAL PUBLIC OFFERINGS INSIDER TRADING INSTITUTIONAL FRAMEWORK INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSTITUTIONAL SHAREHOLDERS INTERESTED PARTIES INVESTIGATION INVESTMENT COMPANIES INVESTOR PROTECTION LAWYERS LEGAL FRAMEWORK LEGAL PROVISIONS LEGISLATION LEGISLATIVE FRAMEWORK LEGISLATIVE REFORM LIMITED LISTED COMPANIES MAJORITY SHAREHOLDERS MANAGERS MERGERS MINISTRY OF FINANCE MINORITY SHAREHOLDERS PACIFIC REGION PARLIAMENT PERFORMANCE INDICATORS PERSONS POISON PILL PROPERTY RIGHTS PROTECTION OF MINORITY SHAREHOLDERS PROXY PUBLIC COMPANIES PUBLIC COMPANY PUBLIC POLICY RATIONALIZATION REGULATORY AUTHORITIES REGULATORY ENFORCEMENT REGULATORY FRAMEWORK REGULATORY INSTITUTIONS REGULATORY INTERVENTION REGULATORY REQUIREMENTS RELATED CORPORATION REPRESENTATIVES RIGHTS OF MINORITY SHAREHOLDERS RIGHTS OF SHAREHOLDERS RISK MANAGEMENT RULE OF LAW SECURITIES LAW SECURITIES LAWS SHAREHOLDER SHAREHOLDER ACTIVISM SHAREHOLDER APPROVAL SHAREHOLDER RIGHTS SPECIFIC DUTIES SPECIFIC SHAREHOLDERS STAKEHOLDER STAKEHOLDERS STATE AGENCIES STATE-OWNED ENTERPRISES STATUTORY REMEDIES STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET TAKEOVERS TRANSPARENCY UNLIMITED COMPANIES VENTURE CAPITAL VETO VOTING |
| spellingShingle |
ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTING STANDARDS ACQUISITION ACQUISITIONS AUDIT COMMITTEE AUDIT COMMITTEES AUTHORITY BANKS BOARD MEMBERS BREACH OF DUTY BUSINESS COMMUNITY CAPITAL MARKETS CEO CIVIL PENALTIES CIVIL PENALTY CLASS ACTIONS COMMON LAW COMPANIES ACT COMPANY COMPANY LIMITED CONFLICTS OF INTERESTS CONTINUOUS DISCLOSURE CONTROLLING SHAREHOLDERS CORPORATE BODY CORPORATE GOVERNANCE CORPORATE GOVERNANCE INITIATIVES CORPORATE GOVERNANCE PRINCIPLES CORPORATE GOVERNANCE REFORM CORPORATE GOVERNANCE REFORMS CORPORATE INFORMATION CORPORATE LAW CORPORATE LAW REFORM CORPORATE OWNERSHIP CORPORATE PERFORMANCE CORPORATE RESTRUCTURING CORPORATIONS COURT ACTION DECISION MAKING DECISION MAKING AUTHORITY DERIVATIVE ACTION DERIVATIVE ACTIONS DISCLOSURE OF INFORMATION DUE DILIGENCE ECONOMIC DEVELOPMENT ECONOMIC PERFORMANCE ENFORCEMENT ACTION ENFORCEMENT POWERS ETHICAL STANDARDS FEDERAL GOVERNMENT FIDUCIARY DUTIES FIDUCIARY DUTY FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL STATEMENTS FIRMS FOREIGN INVESTMENT FOREIGN PARTICIPATION FULL DISCLOSURE GOLDEN SHARE GOLDEN SHARES GOOD CORPORATE GOVERNANCE GOVERNANCE ENVIRONMENT GOVERNANCE ISSUES GOVERNMENT OFFICIALS INCORPORATED INDEPENDENT AUDIT INDEPENDENT DIRECTOR INDEPENDENT DIRECTORS INITIAL PUBLIC OFFERINGS INSIDER TRADING INSTITUTIONAL FRAMEWORK INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSTITUTIONAL SHAREHOLDERS INTERESTED PARTIES INVESTIGATION INVESTMENT COMPANIES INVESTOR PROTECTION LAWYERS LEGAL FRAMEWORK LEGAL PROVISIONS LEGISLATION LEGISLATIVE FRAMEWORK LEGISLATIVE REFORM LIMITED LISTED COMPANIES MAJORITY SHAREHOLDERS MANAGERS MERGERS MINISTRY OF FINANCE MINORITY SHAREHOLDERS PACIFIC REGION PARLIAMENT PERFORMANCE INDICATORS PERSONS POISON PILL PROPERTY RIGHTS PROTECTION OF MINORITY SHAREHOLDERS PROXY PUBLIC COMPANIES PUBLIC COMPANY PUBLIC POLICY RATIONALIZATION REGULATORY AUTHORITIES REGULATORY ENFORCEMENT REGULATORY FRAMEWORK REGULATORY INSTITUTIONS REGULATORY INTERVENTION REGULATORY REQUIREMENTS RELATED CORPORATION REPRESENTATIVES RIGHTS OF MINORITY SHAREHOLDERS RIGHTS OF SHAREHOLDERS RISK MANAGEMENT RULE OF LAW SECURITIES LAW SECURITIES LAWS SHAREHOLDER SHAREHOLDER ACTIVISM SHAREHOLDER APPROVAL SHAREHOLDER RIGHTS SPECIFIC DUTIES SPECIFIC SHAREHOLDERS STAKEHOLDER STAKEHOLDERS STATE AGENCIES STATE-OWNED ENTERPRISES STATUTORY REMEDIES STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET TAKEOVERS TRANSPARENCY UNLIMITED COMPANIES VENTURE CAPITAL VETO VOTING World Bank Malaysia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment |
| geographic_facet |
East Asia and Pacific Asia Southeast Asia Malaysia |
| description |
This ROSC assessment of corporate governance in Malaysia benchmarks law and practice against the OECD Principles of Corporate Governance, and focuses on listed companies. Important corporate governance reforms have been implemented in Malaysia since 1998, when a high-level Finance Committee on Corporate Governance, consisting of both government and industry, was formed to identify and address weaknesses highlighted by the Asian financial crisis. Key reforms have included the development of a comprehensive master plan to further develop the capital market, the demutualization of Bursa Malaysia, introduction of a Code of Corporate Governance, and changes in the composition and role of its Board of Directors. In 2004, disclosure rules and corporate whistleblower protections were strengthened. In 2005, major reforms commenced to overhaul government-linked corporations (GLCs). The report stresses that in order to further improve its corporate governance practices, Malaysia faces the following challenges: the government's level of equity ownership remains large; free float remains low; and directors' accountability and protection for minority shareholders need further improvement. In addition, the role of institutional investors and shareholder activism in the corporate governance framework needs to be strengthened. This report identifies several key measures that focus on enforcement and implementation, including: Continued and consistent enforcement of disclosure and reporting requirements by the Securities Commission, with a focus on quality of information provided; Implementation of legislative reform to strengthen directors' independence and accountability to investors; and Development of a legal basis for and promotion of an active institutional investor community. |
| format |
Economic & Sector Work :: Corporate Governance Assessment (ROSC) |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Malaysia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment |
| title_short |
Malaysia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment |
| title_full |
Malaysia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment |
| title_fullStr |
Malaysia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment |
| title_full_unstemmed |
Malaysia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment |
| title_sort |
malaysia : report on the observance of standards and codes (rosc), corporate governance country assessment |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/06/7447405/malaysia-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/8765 |
| _version_ |
1764405555148881920 |
| spelling |
okr-10986-87652021-04-23T14:02:40Z Malaysia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment World Bank ACCESS TO INFORMATION ACCOUNTABILITY ACCOUNTING STANDARDS ACQUISITION ACQUISITIONS AUDIT COMMITTEE AUDIT COMMITTEES AUTHORITY BANKS BOARD MEMBERS BREACH OF DUTY BUSINESS COMMUNITY CAPITAL MARKETS CEO CIVIL PENALTIES CIVIL PENALTY CLASS ACTIONS COMMON LAW COMPANIES ACT COMPANY COMPANY LIMITED CONFLICTS OF INTERESTS CONTINUOUS DISCLOSURE CONTROLLING SHAREHOLDERS CORPORATE BODY CORPORATE GOVERNANCE CORPORATE GOVERNANCE INITIATIVES CORPORATE GOVERNANCE PRINCIPLES CORPORATE GOVERNANCE REFORM CORPORATE GOVERNANCE REFORMS CORPORATE INFORMATION CORPORATE LAW CORPORATE LAW REFORM CORPORATE OWNERSHIP CORPORATE PERFORMANCE CORPORATE RESTRUCTURING CORPORATIONS COURT ACTION DECISION MAKING DECISION MAKING AUTHORITY DERIVATIVE ACTION DERIVATIVE ACTIONS DISCLOSURE OF INFORMATION DUE DILIGENCE ECONOMIC DEVELOPMENT ECONOMIC PERFORMANCE ENFORCEMENT ACTION ENFORCEMENT POWERS ETHICAL STANDARDS FEDERAL GOVERNMENT FIDUCIARY DUTIES FIDUCIARY DUTY FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL STATEMENTS FIRMS FOREIGN INVESTMENT FOREIGN PARTICIPATION FULL DISCLOSURE GOLDEN SHARE GOLDEN SHARES GOOD CORPORATE GOVERNANCE GOVERNANCE ENVIRONMENT GOVERNANCE ISSUES GOVERNMENT OFFICIALS INCORPORATED INDEPENDENT AUDIT INDEPENDENT DIRECTOR INDEPENDENT DIRECTORS INITIAL PUBLIC OFFERINGS INSIDER TRADING INSTITUTIONAL FRAMEWORK INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSTITUTIONAL SHAREHOLDERS INTERESTED PARTIES INVESTIGATION INVESTMENT COMPANIES INVESTOR PROTECTION LAWYERS LEGAL FRAMEWORK LEGAL PROVISIONS LEGISLATION LEGISLATIVE FRAMEWORK LEGISLATIVE REFORM LIMITED LISTED COMPANIES MAJORITY SHAREHOLDERS MANAGERS MERGERS MINISTRY OF FINANCE MINORITY SHAREHOLDERS PACIFIC REGION PARLIAMENT PERFORMANCE INDICATORS PERSONS POISON PILL PROPERTY RIGHTS PROTECTION OF MINORITY SHAREHOLDERS PROXY PUBLIC COMPANIES PUBLIC COMPANY PUBLIC POLICY RATIONALIZATION REGULATORY AUTHORITIES REGULATORY ENFORCEMENT REGULATORY FRAMEWORK REGULATORY INSTITUTIONS REGULATORY INTERVENTION REGULATORY REQUIREMENTS RELATED CORPORATION REPRESENTATIVES RIGHTS OF MINORITY SHAREHOLDERS RIGHTS OF SHAREHOLDERS RISK MANAGEMENT RULE OF LAW SECURITIES LAW SECURITIES LAWS SHAREHOLDER SHAREHOLDER ACTIVISM SHAREHOLDER APPROVAL SHAREHOLDER RIGHTS SPECIFIC DUTIES SPECIFIC SHAREHOLDERS STAKEHOLDER STAKEHOLDERS STATE AGENCIES STATE-OWNED ENTERPRISES STATUTORY REMEDIES STOCK EXCHANGE STOCK EXCHANGES STOCK MARKET TAKEOVERS TRANSPARENCY UNLIMITED COMPANIES VENTURE CAPITAL VETO VOTING This ROSC assessment of corporate governance in Malaysia benchmarks law and practice against the OECD Principles of Corporate Governance, and focuses on listed companies. Important corporate governance reforms have been implemented in Malaysia since 1998, when a high-level Finance Committee on Corporate Governance, consisting of both government and industry, was formed to identify and address weaknesses highlighted by the Asian financial crisis. Key reforms have included the development of a comprehensive master plan to further develop the capital market, the demutualization of Bursa Malaysia, introduction of a Code of Corporate Governance, and changes in the composition and role of its Board of Directors. In 2004, disclosure rules and corporate whistleblower protections were strengthened. In 2005, major reforms commenced to overhaul government-linked corporations (GLCs). The report stresses that in order to further improve its corporate governance practices, Malaysia faces the following challenges: the government's level of equity ownership remains large; free float remains low; and directors' accountability and protection for minority shareholders need further improvement. In addition, the role of institutional investors and shareholder activism in the corporate governance framework needs to be strengthened. This report identifies several key measures that focus on enforcement and implementation, including: Continued and consistent enforcement of disclosure and reporting requirements by the Securities Commission, with a focus on quality of information provided; Implementation of legislative reform to strengthen directors' independence and accountability to investors; and Development of a legal basis for and promotion of an active institutional investor community. 2012-06-22T14:36:20Z 2012-06-22T14:36:20Z 2005-06 http://documents.worldbank.org/curated/en/2005/06/7447405/malaysia-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/8765 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Corporate Governance Assessment (ROSC) Economic & Sector Work East Asia and Pacific Asia Southeast Asia Malaysia |