The Securities Commission (SC) continues to emphasise the need for good corporate governance practices, and among these, the encouragement of women’s participation on boards and senior management.
According to the SC during the annual report 2022 media conference on Monday, 100% of the top 100 public listed companies have at least one woman director on the board, with year 2022 registering at 98%.
Also, 29.7% of board seats in the top 100 public listed companies were held by women, up from 27.6% in 2022. The SC added that 27% of public listed companies have at least 30% women directors on board, up from 19% in 2022.
On the other hand, 80% of intermediaries have at least one woman director on the board. 82% of newly appointed women directors in 2022 were independent, compared to 74% in 2021.
Down to the senior management level, only 23% of the positions for the top 100 public listed companies were held by women. CG Monitor 2022 review on the adoption of Malaysian code on corporate governance best practices found that 30 out of 48 Malaysian code on corporate governance best practices have an adoption level of above 90%.
This is encouraging as 2021 only registered a total of 24. The SC further stated that 96% of public listed companies adopted newly introduced best practices related to sustainability.
