MALAYSIAN Resources Corporation Bhd (MRCB) won the Industry Excellence Award for the real estate sector at the Asean Corporate Governance Awards 2020 of the Minority Shareholders Watch Group (MSWG).
The awards recognize the best corporate governance practices of listed companies in Malaysia using the assessment of the Asean Corporate Governance Scorecard.
“Corporate governance is one of the foundations of sustainability, and winning this independent and esteemed award validates MRCB’s efforts over the years, not only to uphold the highest standards of corporate governance, but also for transparency and the quality of disclosure to stakeholders, ”said MRCB Director General Amarjit Chhina.
“We are honored to receive this award and to express our gratitude to the MSWG for its recognition. “
The annual MSWG-Asean Corporate Governance Awards are known for the high standard of their selection process in Malaysia.
It was created to form a common governance framework across the region and raise the profile of ASEAN listed companies within the global investment community.
The scoreboard adopts the corporate governance principles of the Organization for Economic Co-operation and Development (OECD) as its primary benchmark.
It covers five areas of the OECD principles while adopting a two-level rating to better capture the effective implementation of good corporate governance.
It is a path of market discipline to encourage good governance among publicly traded companies in order to increase shareholder value over time.