Revised Budget 2023 ensures inclusive growth for individuals and corporates, says KRI and ICDM

KUALA LUMPUR (Feb 24): The revised Budget 2023 enables inclusive and sustainable economic growth, instils confidence through institutional and governance reforms, as well as advance social justice, said Khazanah Research Institute (KRI).

In a statement on Friday (Feb 24), the think tank said the government made initiatives to improve household income of various groups which reflects the concept of prosperity for all.

The Institute of Corporate Directors Malaysia (ICDM) said Budget 2023’s priority on green practices, Islamic Finance and innovation reflects a values-driven focus and approach in rebuilding, and at the same time, futureproofing Malaysia’s economy for the rakyat.

KUALA LUMPUR, April 7 — Companies with at least one-third women representation correlate with 38 per cent higher median return on equity (ROE) compared with boards with no women representation, according to a ‘Malaysia Board Diversity Study and Index’ by the Institute of Corporate Directors Malaysia (ICDM).

Based on the Study and Index which were developed by ICDM in partnership with Willis Towers Watson (WTW), it said a larger representation of women seems to suggest more inclusive boards.

In 2022, environmental, social and governance (ESG) became the hottest phrase in the corporate world. But as the momentum of adoption accelerates, questions about whether ESG can achieve its true purpose have also emerged.

Activists, investors and consumers are taking companies and governments to task over ESG targets or policies that seem more like a marketing gimmick.

THE evolution of advanced technologies, disruptive business models, and stakeholder expectation shifts have drastically altered business operations. They show that the expertise and skill sets of Malaysian boards of directors require urgent revision, according to the Institute of Corporate Directors Malaysia (ICDM) chairman Tan Sri Zarinah Anwar.

In fact, most chairmen expect changes in board composition related to skills in innovation and technology. This priority is driven by the accelerated digitalisation of business since the Covid-19 pandemic began in 2020.

COMPANIES that appoint one-third women on board displayed 38% higher median return in equity (RoE), compared to corporate boards with no female members, according to a “Malaysia Board Diversity Study and Index” by the Institute of Corporate Directors Malaysia.

AS Malaysia moves towards strengthening of corporate governance (CG) through adoption of codes of conduct and guidelines, establishing a holistic and systematised standard for board diversity is essential for corporate Malaysia.

In this light, the Institute of Corporate Directors Malaysia (ICDM) today launched its inaugural Malaysia Board Diversity Study and Index.

KUALA LUMPUR (April 7): Companies with at least one-third women representation correlate with 38% higher median return on equity (ROE) compared with boards with no women representation, according to a ‘Malaysia Board Diversity Study and Index’ by the Institute of Corporate Directors Malaysia (ICDM).

KUALA LUMPUR: Companies with at least one-third women representation correlate with 38 per cent higher