KUALA LUMPUR: Bursa Malaysia Bhd
has released the second review on the analysis of corporate governance disclosures in annual reports.
The review is of 450 issuers listed on the Main and ACE markets, bringing the total to 750 listed issuers’ annual reports reviewed over two years, Bursa Malaysia said in a statement on Wednesday.
The purpose of the review is to assess the level and quality of disclosures by listed issuers in relation to Bursa Malaysia’s relevant listing requirements and the Malaysian Code of Corporate Governance 2012 (“MCCG”), with the objective of elevating corporate transparency and governance practices and disclosure.
The consolidated report is useful to both listed issuers and investors as it provides a comparative analysis of corporate governance practices across a wide segment of companies.
Each of the 450 listed issuers reviewed will also receive a detailed report on their performance.
Collectively both reports will enable the companies to discern their strengths and identify areas for improvement.
The exchange said key highlight of the findings was that overall, quality disclosures were observed across the board amongst listed issuers with large, medium and small market capitalisation achieving average scores of 72%, 66% and 62% respectively.
It said that 57% of total listed issuers reviewed achieved average scores of 60% and above.
The results are not comparable with those of last year’s review given that the listed issuers reviewed differ from 2014 and this year’s review involves a variation to the dashboard, it noted.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
