Minister of Finance Tengku Zafrul Aziz today announced the launch of the PLC Transformation Program which aims to deliver high performance, corporate Malaysia.
“In complementing PERKUKUH, it gives me great pleasure to announce the PLC Transformation Program, or PLCT in short, which aims to deliver high performance, corporate Malaysia.
“This initiative, spearheaded by Bursa Malaysia, will focus on enhancing five pillars in our PLCs, namely, for our PLCs to be performance-driven, grow as Sustainable, Socially Responsible and Ethicalorganisations; feature Strengthened Corporate Governance; be Digitally Enabled, and support the Nation-Building drive to advance the Malaysian.
“The PLCT involves the issuance of five digital guideline books, one for each of the pillars, the first of which will be issued by end-2021,” he says during his speech at the InvestKL event today. Zafrul says these books will provide best practices and guidance with benchmarks and case studies for PLCs to spearhead their transformation journey.
The guidelines will be relevant to all PLCs, regardless of size, in becoming better and stronger corporates which, in turn, will enhance their attractiveness to global investors.
The PLCT will run from 2021 to 2025. It will see our PLCs progress in numerous areas including building a stronger financial position and enhancing their Board composition, thereby better positioning them to contribute to the national agenda.
The monitoring of PLCs’ efforts and progress will be shared via a digital dashboard, to promote transparency and effective achievement of the intended outcomes.
Throughout the programme, support by industry champions and corporate leaders will be vital. Therefore, I urge all of our PLCs to support this programme to improve our corporate Malaysia, our capital markets and our economy.
Collectively, these efforts – from PERKUKUH, the National Investment Aspirations to the PLC Transformation Programme – will ensure that the fundamentals of the Malaysian economy become stronger, while positioning the nation on the path of prosperity, inclusivity and sustainability.
