The role of parliament in good governance

Exemplary stewardship: People crossing a road in front of the Prime Minister’s office in Putrajaya. Society has a right to expect exemplary stewardship and fiduciary responsibility not just in privately or government-owned companies, but throughout the public sector. — Reuters

WHEN Malaysia published its first Corporate Governance Code in 2000, the focus was on companies, especially public listed companies.

The objective was to set down principles, best practices and the optimal structures and processes needed to ensure good governance. This was appropriate at the time as we wrestled with the aftermath of the Asian financial crisis.