Overview and evolution of corporate governance challenges in Malaysia

Simon Yeoh

ON the local front, beset with a plethora of challenges, especially the lack of transparency and governance relating to poor investment decisions leading to excessive exposure to risky financial practices as well as a spate of corporate scandals and the 1997 financial crises, the Securities Commission (SC) issued the Capital Market Masterplan in 1999.

This was followed by the Malaysian Code on Corporate Governance (MCCG) in 2000. Subsequently, Bank Negara Malaysia (BNM) published the Financial Sector Masterplan in 2001.