AMMB Holdings Bhd, Bursa Malaysia Bhd and Malayan Banking Bhd (Maybank) have emerged as the top three among all Malaysian publicly listed companies (PLCs) in the Asean Corporate Governance Scorecard (ACGS) assessment. The Minority Shareholders Watch Group (MSWG) said the 2019 ACGS Awards recognised Asean PLCs based on three award categories, namely Top 20 Asean PLCs, Asean Asset Class Award and Top 3 PLCs per Country. It added that the ACGS assessment is a collective effort of the Asean Capital Markets Forum and the Asian Development Bank, as part of the Asean corporate governance initiative introduced in 2011. It aims to raise corporate governance standards and practices among Asean PLCs, as well as to acknowledge the well-governed Asean companies. Six out of the ten Asean member countries, namely Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam participated in the assessment. Seven Malaysian PLCs were shortlisted for the Top 20 Asean PLCs category. “They are namely AMMB, Axiata Group Bhd, Bursa, CIMB Group Holdings Bhd, Maybank, Petronas Dagangan Bhd (PetDag) and RHB Bank Bhd,” said MSWG in a statement.

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The Malaysian Reserve