Bursa Malaysia seeks feedback on move to improve board quality, independence

KUALA LUMPUR (Bernama) -- Bursa Malaysia Bhd has issued a consultation paper seeking public feedback on the proposed amendments to stock exchange listing requirements in relation to the appointment of directors and their corporate independence.

"Good governance, leadership continuity, and board independence continue to be key focus areas among stakeholders and regulators,” the stock exchange regulator said in a statement today.

"The COVID-19 pandemic also highlighted the need for boards to continuously assess composition as well as structure to ensure that they are fit for purpose in the new normal. In this light, the emphasis is now centred on director tenure, quality and integrity since these are essential to board effectiveness. "

Hence, the exchange said it has proposed two "key enhancements” to the listing requirements.