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Over 80 directors met at the third directors' forum which was held yesterday and organised by Bursa Malaysia to discuss issues on corporate governance. The forum saw an active discourse between the 80 company directors with the regulator on ways to elevate embracement and effective practice of corporate governance.
Key governance issues highlighted during the forum was on the effectiveness of the board of directors, audit committee and independent directors. Emphasis was also made on directors' understanding of their obligations, their roles in ensuring effective risk management strategies, risk oversight by the boards, execution of duties as well as acquisition of specific skills and knowledge in corporate governance.
Selvarany Rasiah, Chief Regulatory Officer of Bursa Malaysia said, "This forum is part of a series of initiatives that we have been undertaking on a consistent basis to enhance standards of corporate governance through increasing awareness via direct engagement with directors. This is also a platform for us to emphasise and highlight key governance issues as well as provide an avenue for a two-way dialogue with a view to elevate and strengthen corporate governance standards."
The forum emphasised the important roles that boards of directors play in implanting fundamental values of transparency, accountability and responsibility through good governance in their business process and practices. It also allowed them to share views of other directors' roles through the discussions and networking sessions.
Selvarany added, "Good governance should be used as a means to enhance business growth and sustainability. It should not be seen as a stumbling block to the success of the corporate mission."
Bursa Malaysia will continue to engage with directors of listed companies in its effort to promote high standards of corporate governance. The forums are to facilitate discussions between both the directors and the Exchange on corporate governance issues in an open and transparent manner.
