According to ICDM president and CEO Michele Kythe Lim, (pic) there needs to be a holistic and systematised standard for board diversity as Malaysia moves towards strengthening corporate governance.
PETALING JAYA: Listed companies in Malaysia with a diverse board of directors tend to display stronger financial performance, according to the inaugural Malaysia Board Diversity Study and Index.
The report, which was developed by the Institute of Corporate Directors Malaysia in partnership with Willis Towers Watson (WTW), found that companies with at least one-third representation of women on the board have recorded a 38% higher median return on equity (RoE) compared to boards with no women representation.
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