Bursa Malaysia Bhd today announced the appointment of the Institute of Corporate Directors Malaysia as a knowledge partner to conduct the Mandatory Accreditation Programme for directors of Public Listed Companies (“PLCs”), in line with the goal to strengthen the corporate governance ecosystem in Malaysia.
“A strong corporate governance culture is fundamental to the continued credibility, attractiveness as well as the sustainability of Corporate Malaysia, especially given the pivotal role it plays in the Malaysian economy’s future growth. Self-regulation in the marketplace, particularly in achieving and exceeding both regulatory and market expectations, is critical to further enhance business accountability and continuity of market confidence. Therefore, it is crucial that directors are equipped with the right mindset and competencies right at the start of their journey in the boardroom. Undoubtedly, the MAP serves as a catalyst for directors’ professionalism and effectiveness.”
“We are pleased to be the supporting partner for Bursa Malaysia’s MAP. As the national Institute of Directors (IoD) recognised by Securities Commission Malaysia (“SC”), ICDM serves as the centre of excellence for the professional development of directors, catering to the complete lifecycle of directorship — from aspiring to new and seasoned directors,” said Michele Kythe Lim, President & Chief Executive Officer of ICDM.
“Through our resources and network, we aim to provide participants of MAP with globally- benchmarked competency development modules and the most relevant knowledge to ensure professional competence and exemplary standards, particularly in an environment of heightened scrutiny and increased expectations on directors,” added Michele Kythe Lim. “ICDM is committed to our mandate to embed a sound and progressive corporate governance culture in Malaysia,” says Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia.
The enhanced edition of the MAP is a forward-looking programme that incorporates the latest corporate governance principles and best practices to equip board directors with the essential knowledge of good corporate governance, their fiduciary duties as well as proficiency in emerging areas such as the sustainability agenda, stakeholder capitalism, as well as reputation and crisis management. Amongst the key elements of the MAP modules is the sharing of practical experiences and best practices from a local and regional context by the programme facilitators.
Under Bursa Malaysia’s Listing Requirements, directors appointed to the boards of PLCs for the first time and directors of newly listed companies must complete the MAP. The MAP is also open to directors of non-listed subsidiaries of PLCs. It serves as a refresher course for experienced directors seeking to boost their existing competencies. The enhanced programme under ICDM will commence in 2022.