Thursday, October 22

Format of CG monitor has not been changed — SC

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KUALA LUMPUR: The Securities Commission Malaysia (SC) has quashed a news report saying it has changed the format of reporting for the Corporate Governance Monitor (CG Monitor).

“The SC refers to an article by Ekonomi Rakyat titled “Suruhanjaya Sekuriti Ubah Format Laporan, Pendapatan CEO Tidak Lagi Didedahkan” (Securities Commission Changes Report Format, CEOs Income No Longer Revealed) published on October  16, 2020.

“The SC would like to clarify that the article is inaccurate. We have not changed the format of reporting for the CG Monitor,” it said in a statement.

The SC said the annual publication report tracks the adoption of the Malaysian Code on Corporate Governance by listed companies and analyses different corporate governance issues each year.

“Last year, the SC’s CG Monitor included a thematic review on chief executive officer pay of the top 100 listed companies.

“This year, the CG Monitor focused on the board remuneration of listed companies on the FTSE Bursa Malaysia Top 100 Index, as well as the adoption of two-tier voting and conduct of fully virtual general meetings by listed companies since the Movement Control Order,” it added. — Bernama