Friday, August 27, 2010

SC names members of CGCC, led by Zarinah

KUALA LUMPUR: The Securities Commission (SC) on Thursday, Aug 26 announced the members of the new International Corporate Governance Consultative Committee (CGCC), led by SC chairman Tan Sri Zarinah Anwar.

The 11-member committee was formed to provide strategic direction, views and advice to SC in the development of a new five-year corporate governance blueprint to further raise the standards of corporate governance in Malaysia.

'The development of the new blueprint is critical given the significant changes to the corporate landscape as well as new corporate governance-related issues that has surfaced in Malaysia and internationally,' said Zarinah.'' ''

The blueprint will outline various initiatives and recommendations to be implemented from 2011 to 2015, SC said.

Members of the committee include Ministry of Finance secretary-general Tan Sri Dr Wan Abdul Aziz Wan Abdullah, BURSA MALAYSIA BHD [] chairman Tun Mohamed Dzaiddin Abdullah, Employees Provident Fund CEO Tan Sri Azlan Zainol, CIMB group managing director and CEO Datuk Seri Nazir Razak, and PricewaterhouseCoopers Malaysia executive chairman Datuk Johan Raslan.

It also includes Federation of Public Listed Companies Malaysia president Tan Sri Megat Najmuddin Khas, Companies Commission of Malaysia CEO Datuk Azmi Ariffin, Thai Institute of Directors Association president and CEO Charnchai Charuvastr, Organisation for Economic Co-operation and Development senior policy manager Fianna Jesover and Aberdeen Asset Management Asia Limited Strategist Peter Elston.

The committee will be supported by the Corporate Governance Working Group (CGWG) comprising senior regulators and market professionals, said SC.

"A holistic review of the Malaysian corporate governance is timely since most of the recommendations made in the Finance Committee Report have been implemented over the past 10 years," it said.

The development of the new blueprint was first announced by Zarinah at the SC-Bursa Malaysia Corporate Governance Week 2010 in June.

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