KUALA LUMPUR: The Securities Commission (SC) announced, as at Jan 17, 2018, there are only seven companies with all-male boards out of 100 top companies, a 65 per cent improvement from 20 companies as at Dec 31, 2016.
During the launch of the Malaysian Code on Corporate Governance (MCCG) in April 2017, the SC also set a target to have no all-male boards on the top 100 companies by the end of 2018.
“The seven remaining companies are Affin Holdings Bhd, Alliance Bank Bhd, Batu Kawan Bhd, Fraser & Neave Holdings Bhd, Genting Plantations Bhd, Genting Malaysia Bhd, and UOA Development Bhd,” said SC in a statement here, today.
The SC and the 30 per cent Club Malaysia have actively engaged these companies.
The SC understands that some of these companies are taking steps to identify suitable candidates to secure women participation on their boards.
“Fraser & Neave will be nominating two women candidates to be appointed as board members in their upcoming annual general meeting.”
As for board occupancy, the SC said as at Dec 31, 2017, 19.2 per cent of board seats of the top 100 listed companies on Bursa Malaysia (top 100 companies) were occupied by women, up from 16.6 per cent as at Dec 31, 2016.
Moving forward, the SC will review and analyse corporate governance disclosures to monitor the level of implementation of its practices including gender diversity.
These observations would be published by the SC through periodic corporate governance thematic reports, it said.