Setting the right levels of pay

WHERE corporate social responsibility is concerned, two clear developments in corporate governance are laudable. The first is the introduction of the corporate liability provision in the Malaysian Anti-Corruption Act, which makes a commercial organisation and its directors liable for acts of corruption committed by any persons associated with it, including its employees.

The second is the introduction of the Securities Commission’s Corporate Governance (CG) Moni­tor, launched on May 6. If this had been launched sooner, perhaps the 1MDB scandal could have been prevented! Both provisions highlighted the need for long-serving independent directors and gender diversity in the boardroom.