The Securities Commission of Malaysia released the updated MCCG 2021 on 28 April 2021 for listed companies and strongly encouraged for unlisted entities and government linked corporations. The Code introduces 12 new Practices, 8 updated Practices and 8 updated Guidance raise the bar on corporate governance.

The approach of “CARE” (i.e., “Comprehend, Apply and Report”) towards CG Practices, i.e., the need for Directors & Company Secretaries to Comprehend the substance of the 3 Principles & 48 Practices vis-à-vis the Intended Outcomes espoused; Apply them across the listed issuer and Report the Practices meaningfully in the organisation’s annual report remains unchanged. 

References will be made to Bursa’s Listing Requirements, the Companies Act 2016, the Capital Markets & Services Act 2007, the Securities Commission Guidelines on the conduct of Directors of listed corporations and their subsidiaries; and the Corporate Governance Guide 4th Edition: Rise Together, highlighting which Practices are "mandatory" for listed corporations.

 

Recommended for
• Directors of listed corporations & their subsidiaries
• CEOs / CFOs
• Chief Regulatory or Compliance Officers
• Chief Risk Officers
• Chief Sustainability Officers
• Company Secretaries
• Corporate Advisors
• Internal & External Auditors
• Service providers on Governance, Risk & Controls
• Advocates of Corporate Governance
• Personnel from the academia (lecturers, undergraduates, etc.)

 

• Be apprised of the contents of the Code & rationale for each of the Practices
• Understand how the Practices impact a listed issuer, its Board, Board Committees, Management, Company Secretaries, Internal Auditors & External Auditors
• Be aware of the relevant & pertinent documentation to corroborate adoption of the Practices
• Avoid the pitfalls on CG reporting

 

Course Outline
• Introduction - Definition of Corporate Governance (‘CG’)
• The CG journey in Malaysia, thus far
• Key features & structure of the MCCG, including rationale for the Code
• Understanding the C.A.RE. approach in applying & reporting CG Principles, Practices & Guidance
• Overview of the 3 Principles & 13 Intended Outcomes
• Unpacking the 48 Practices (inclusive of 6 step-ups) & 42 Guidance of the Code & their implications to the Board, Board Committees, Management, Company Secretaries & Auditors (External & Internal)

• Distinguishing those Practices which are ‘mandatory’ for application (i.e., subject to regulatory discipline) with reference to Bursa’s Listing Requirements & Securities Commission Guidelines on the conduct of Directors of listed corporations and their subsidiaries
• Reporting of CG Practices: 
  - avoidance of boilerplate statements

  - how to ‘write it as it is’ especially on non-adoption of Practices & deployment of Alternative Practices to achieve the Intended Outcomes
• Case studies on governance failure
• Key learning points
• Questions & Comments

Lee Min On
• Chartered Accountant, CA(M) Malaysian Institute of Accountants
• Certified Public Accountant, CPA(M) Malaysian Institute of Certified Public Accountants
• Fellow Member, CFIIA, Institute of Internal Auditors Malaysia

 

• Retired as Partner of KPMG Malaysia after serving almost 37 years (20 years in Audit and 17 years in Advisory) with the Firm
• Headed the Firm’s Risk Consulting division and Internal Audit, Risk & Compliance Services unit
• Speaks regularly at public seminars and in-house training on Sustainability, Corporate Liability on corruption, Corporate Governance, Enterprise Risk Management (including Fraud Risk Management), Internal Controls & Risk-Based Internal Audit, Companies Act 2016, focusing on how best to apply the relevant insights practically
• Serves as Independent Director of several Main Market listed issuers in Malaysia