KUALA LUMPUR: The Institute of Corporate Directors Malaysia (ICDM), a dedicated body established by the Securities Commission Malaysia (SC) to enhance the professionalism and effectiveness of corporate directors in Malaysia, has been launched today by Minister of Finance Lim Guan Eng.
Formed by directors for the benefit of directors, ICDM’s main objectives are to promote excellence, integrity, and the highest levels of skills and professional competence among corporate directors in Malaysia.
In addition, ICDM shall represent the interests of its members, and advocate the adoption and application of corporate governance practices.
Under the leadership of its inaugural board led by Tan Sri Zarinah Anwar and a professional management team, ICDM will focus on building a sustainable pipeline of directors through education programmes that equip directors with essential skills to serve on listed boards.
ICDM also maintains a directors’ registry to provide director-sourcing services to companies so that succession planning is competency-based.
“Recognising that better boards will create better values, the establishment of ICDM will add to the already rich and diverse corporate governance ecosystem to enhance director effectiveness and board leadership in Malaysia,” said SC chairman Tan Sri Ranjit Ajit Singh.
The establishment of ICDM was spearheaded by the SC as part of its Corporate Governance Strategic Priorities (2017-2020), and is also supported by Bank Negara Malaysia and Bursa Malaysia.