PETALING JAYA: Public-listed companies (PLCs) in Malaysia are discouraged from appointing active politicians as well as persons linked directly with the executive powers such as heads of state, heads of government and ministers as board members.
This is among the recommended best practices under the Securities Commission’s (SC) 2021 edition of the Malaysian Code on Corporate Governance (MCCG), which took effect yesterday.
The recommendation to keep PLCs’ board of directors free from political and government-related influence is to promote objective and independent judgment in line with global best practices, stated the SC.
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