The Malaysian Code of Corporate Governance (Code) was first issued in March 2000. The Code was a reformation in the corporate governance framework in Malaysia. Later, in order to strengthen the roles and responsibilities of the board of directors, audit committee and the internal audit function, the Code was revised in year 2007 (2007 Code).
In March 2012, since the requirements and expectations on corporate governance continue to evolve, the Malaysian Code of Corporate Governance 2012 (MCCG 2012) was then created whereby it advocates the adoption of standards that go beyond the minimum prescribed by regulation. MCCG 2012 focuses more on strengthening the board structure and its composition in recognizing the role of directors as active and responsible fiduciaries. Hence, the Board Charter is created to apply the recommendations and good practices of key governance activities to the Company.
—->> Click HERE for the full article <<—-