KUALA LUMPUR: Malaysia’s monetary sector is stable although there are fiscal challenges of high debt and liabilities resulted from the excesses from the previous government, said Finance Minister Lim Guan Eng.
“Our banking sector is well-capitalised with low numbers of non-performing loans while the capital market remains solid with stable capital and high liquidity.
“The Securities Commission Malaysia (SC) has contributed towards a stable capital market through their framework and regulatory agenda,” Lim told reporters after launching the Institute of Corporate Directors Malaysia (ICDM) in Kuala Lumpur.
SC has set up the ICDM to enhance the professionalism and effectiveness of corporate directors.
In a media briefing here today, SC chairman Tan Sri Ranjit Singh said the newly setup ICDM will add to the already rich and diverse corporate governance ecosystem to enhance director effectiveness and board leadership in Malaysia.
ICDM will complement the role played by Institutional Investors Council, Minority Shareholder Watch Group and the Malaysian Institute of Corporate Governance.
Lead by ICDM chairman Tan Sri Zarinah Anwar, this new entity is tasked to train up a sustainable pipeline of directors through education programmes that better equip directors to serve on listed boards.
ICDM also maintains a directors’ registration provide director-sourcing services to companies to ensure competent succession planning.
Source: New Straits Times