Govt mulling corporate governance taskforce

PUTRAJAYA: The government is looking into establishing a taskforce to coordinate efforts to make Malaysia an excellent nation under Corporate Governance Watch (CGW).

Prime Minister Tun Dr Mahathir Mohamad said the taskforce would be spearheaded by former Bank Negara governor Tan Seri Dr Zeti Akhtar Aziz.

“Tan Seri Zeti will set up the committee and will also study the report by CGW,” he told a press conference after chairing the eighth Special Cabinet Committee on Anti-Corruption meeting at Perdana Putra, here, today.

He said Malaysia’s corporate governance rating was very positive.

“We have already been accessed by foreigners on corporate governance and our corporate governance is quite good.

“We are placed among top countries where corporate governance is according to requirements.”

Dr Mahathir also added that the country had climbed up to the fourth place last year from the seventh place in 2016 in the Corporate Governance Watch report.

“According to report, the main factor which contributed to the improved corporate governance (in Malaysia) was due to the government’s commitment and efforts to eradicate corruption.

“This is done through the aspects of governance, administration and law enforcement.

“This achievement is also line with the government’s aspirations under the National Anti-Corruption Plan (NACP),” he added.

Dr Mahathir also quoted the Ease of Doing Business Report by the World Bank to prove that Malaysia had improved its competitiveness globally through business friendly policies.

The report, he said showed that Malaysia had moved up the ranks to 15th place, up from the 24th place out of 190 countries.

“The 15th position also puts Malaysia above developed nations such as France (32nd place), Switzerland (38th place) and Japan (39th place).

“We are now among the top six nations in the Asia Pacific after New Zealand, Singapore, Hong Kong, South Korea and Taiwan.”

Dr Mahathir said Malaysia was a good country to invest in, but fake media reports could be hampering its image projection.

He said certain media reports were making it seem as if Malaysia was “a bad country, as if we are going through a war.

“But, we are actually performing well and investments are coming in,” he added.

“Please report the truth. Don’t report fake news.”