Female representation on boards of the Top 100 publicly listed companies (PLCs) in Malaysia has nearly doubled since 2016, rising from 16.6% to 31.4% in 2024, according to recent data from the Securities Commission (SC).
As of July 1, women hold 274 out of 872 total board positions in these top companies. The SC data also shows that 62 of the Top 100 PLCs have achieved at least 30% female representation on their boards.
This progress places Malaysia ahead of other Asian nations in terms of female board representation. Bloomberg News reports that, on average, women hold only 16% of board seats at Asia’s largest listed companies, highlighting Malaysia’s leading position in the region.
In contrast, a global report from Deloitte Insights reveals that women occupied just 18.4% of top management positions in the financial services sector in 2023. Despite this, Malaysia’s investment banking sector demonstrates higher female representation compared to many other regions, though comprehensive statistics are limited.
Natasha Ishak, regional director and country head of recruitment agency Hays, attributes the high female participation in finance in Malaysia to an affinity for fields like accounting, statistics, and mathematics.
Bloomberg News also quoted leading female financiers in Malaysia, including Tan Ai Chin from OCBC Malaysia. Tan noted that her career advancement was based on merit rather than diversity mandates. “I’ve never truly felt there is any stereotype. Everyone is given equal opportunity in the workplace,” Tan said, adding that she believes in meritocracy over imposed diversity quotas.
Overall, Malaysia’s growing female representation on boards reflects positive trends towards gender diversity in leadership roles.
