Bursa Malaysia aims for 300 PLCs to participate in transformation programme by 2025

KUALA LUMPUR: Bursa Malaysia Bhd (Bursa Malaysia) is aiming for 300 public-listed companies (PLCs) to participate in a transformation programme for them by the end of 2025.

Chairman Tan Sri Abdul Wahid Omar said to date, more than 100 PLCs have committed to participate in the programme from the 971 companies listed on Bursa Malaysia.

"From 2023 onwards there will be more engagement with them although it is not mandatory for the PLCs to come and participate, however it is an encouragement and an early part of the transmission of our programme,” he told a press conference after the launch of the PLC Transformation Programme’s latest guidebooks here today.

Earlier, Bursa Malaysia launched the final two digital guidebooks under the Public-Listed Companies (PLCs) Transformation Programme, aimed at transforming Malaysian PLCs into high-performing organisations.

Abdul Wahid said Guidebook 4 - "Being Digitally Enabled” - focuses on the imperatives, opportunities, and benefits for businesses to become more digitally enabled, which can lead to significant improvements in their overall performance.

Guidebook 5 - "Contributing Towards Nation Building” - emphasises how the growth initiatives of businesses can fundamentally and profoundly benefit not only the companies themselves, but also directly shape the growth of the economy, community and nation.

"With targeted strategies that are aligned to their respective business purpose and national agendas, PLCs can be more competitive, enhance capabilities of our workforce, and help our nation have stronger standing in global supply chains,” he said in his welcoming remarks at the launch.

He said these last two books are timely as the two-year COVID-19 pandemic has demonstrated how digitally enabled and agile businesses not only survived but thrived amid difficult times.

"Our PLCs’ earnings performance, as measured by growth in Malaysia’s Index earnings per share (EPS) has been muted since the global financial crisis. Earnings fell to a 10-year low in 2020 and only began to recover last year.

"Similarly, Malaysia’s weightage in the Morgan Stanley Capital International (MSCI) Emerging Markets Index has been generally declining since 2019, negatively impacting our ability to capture larger fractions of global funds.

"Nonetheless, we are glad that our weightage has recently increased to 1.62 per cent in October 2022, up from 1.39 per cent in 2021,” he said.

Therefore, he said, the PLCs clearly need to take deliberate and committed actions to improve their performance.

He urged all PLCs to actively participate in the PLC Transformation Programme's upcoming planned activities which span multiple years, up to 2025.

To date, more than 100 PLCs have committed to participate in the PLC Transformation Programme.

Bursa Malaysia launched the PLC Transformation Programme in March, aiming to steer and support Corporate Malaysia to higher performance levels by nudging actions and strengthening the growth narrative of PLCs of all sizes.

The first guidebook focused on building purpose and performance-driven organisations; the second was on sustainable, socially responsible and ethical practices; and the third guidebook was on strengthening stakeholder management and investor relations.

All five digital guidebooks are now available for download on the Bursa Malaysia website, as a resource for all PLCs and even private companies, especially small and medium enterprises. - Bernama

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

SMRT proposes to acquire remaining stake in NTS for RM72mil
MNRB records higher 3Q net profit of RM71.23mil
Ringgit ends lower as US non-farm payrolls shocks Asian foreign exchange
Willowglen secures RM11.92mil contract in Singapore
RHB revise upwards 2022 GDP growth forecast to 8.5%
Aemulus posts net loss of RM4.8mil in 1Q
KLCI tumbles 14.09 points, 730 stocks in the red
AirAsia to lease 15 new planes to meet demand driven by China's reopening
BP profit soars to record US$28bil, dividend increased
Bed Bath & Beyond's road to potential bankruptcy

Others Also Read