Malaysia: Corporate transparency levels still low

On August 8, the Malaysian Institute of Corporate Governance (MICG) launched its inaugural report on transparency in corporate reporting among Malaysia's top 100 public listed companies (PLCs).

As expected, and feared, many companies fell short of the three areas in which they were assessed: anti-corruption programmes (40%); organisational transparency (30%); and sustainability practices (30%).

Out of a possible score of 10, the average company score was a mere 4.6.

The report also stated on an overall basis, government linked companies score better relative to multinational corporations and family-run public listed companies with average score of 5.8,5.5 and 4.1, respectively.

The scope of the report covers the assessment of Bursa Malaysia's top 100 public listed companies by market capitalisation as of December 30, 2016.

Read more at the New Straits Times and the Malaymailonline.com

Thailand: Investment firms to roll out corporage governance funds

Six out of 11 investment management companies will roll out corporate governance (CG) funds this quarter, with the rest following in the final quarter.

The six companies are Krungthai Asset Management (KTAM), TMB Asset Management (TMBAM), Krungsri Asset Management (KSAM), Talis asset Management, Tisco Asset Management, and SCB Asset Management (SCBAM. The other five are BBL Asset Management (BBLAM), UOB Asset Management (UOBAM), Kasikorn Asset Management (K-Asset), MFC Asset Management (MFC) and Bangkok Capital.

The 11 companies have combined assets under management (AUM) of more than 90% and they have agreed to contribute 40% of fee income to be generated from CG funds to organisations that promote CG and anti-corruption.

Read the full original article at http://www.bangkokpost.com/business/news/1298935/investment-firms-to-roll-out-cg-funds

Malaysia: Corruption is no Longer a Normal Threat, says MACC

The Malaysian Anti-Corruption Commission Chief Commissioner, Datuk Dzulkifli Ahmad has stated that corruption can no longer be deemed as a normal threat in Malaysia as it is capable of threatening people's wellbeing and safety to the extent that it can cause chaos in a relatively stable country.

"If not addressed in a holistic manner, the threats of corruption and power abuse, which are spreading to all levels of society, will destroy everything that our country had achieved today," Datuk Dzulkifli Ahmad said in a statement issued in conjunction with the Warrior's Day celebration.

To read more, visit the Malay Online here.

Philippines: Ex-Coast Guard Chief, 24 Others Charged with Graft

Former Philippines Coast Guard chief William Melad and 24 others have been charged for graft after their alleged involvement in the irregular disbursments and procurements of office and construction supplies worth P68 million back in 2014.

The Ombudsman is charging those involved for purchasing cell cards, hardware, office, construction and IT supplies without public bidding.

To read more, visit the Manila Times here.

Malaysia Extends Power with Indonesia in Corruption Eradication

The Chairman of the Malaysian Anti-Corruption Commission (MACC), Datuk Dzukifli bin Ahmad met with Chairman Agus Rahardjo of the Indonesian Corruption Eradication Commission (KPK) in a joint effort to strengthen cooperation between the two agencies.

The meeting was aimed at reaffirming interstate cooperation on issues of corruption and graft involving the two countries, particularly in cases involving the flow of graft money between the two countries.

To read more, visit Netral News here.

Malaysia: 3 Domestic Trade Ministry Staff Members Nabbed for Graft

Three staff members of the Domestic Trade, Co-operatives and Consumerism Ministry (KPDNKK) of the enforcement department, Beaufort division were arrested by the Malaysian Anti-Corruption Commission based on accusations that all three had asked for a bribe of RM 600.

To read more, visit the New Straits Times here.

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