ICDM To Strengthen Corporate Governance in Malaysia and The Region through International Directors Summit 2019

KUALA LUMPUR, 14 OCTOBER 2019: The Institute of Corporate Directors Malaysia (‘ICDM’) hosted their inaugural International Directors Summit (‘the Summit’), a platform that is targeted at boards, directors, senior corporate and public governance figures.

Today’s opening ceremony of the two-day Summit at Shangri-La Hotel, Kuala Lumpur saw the convening of more than 400 local and regional executive leaders, governance experts, government representatives, policymakers and civil society. The Summit serve as a platform for the attendees to discuss, debate and establish definitive paths forward in areas of effective corporate governance leadership in the face of 21st century challenges.

Yang Berbahagia (YBhg) Datuk Syed Zaid Albar, Chairman of Securities Commission Malaysia said in his keynote address, “The business of business can no longer be just business. It requires an equation of corporate value that goes well beyond delivering predictable profit and a steady dividend stream, but one which is inclusive and integrates sustainability strategies and considerations.”

Themed ‘The Trust Compass: Resetting the Course’, the Summit featured prominent Malaysian corporate leaders and industry thought leaders who discussed topics around corporate governance, 21st century boards, innovation and disruptions, and how they influence companies and boards.

YBhg Tan Sri Zarinah Anwar said in her Welcome Remarks, “We operate today in an era of uncertainty; tougher competition, greater operational complexity and disruption of legacy business models. The old architecture of board governance most of us are accustomed to, is being challenged. The emergence of revolutionary technologies, disruptive business models and paramount shifts in stakeholders’ expectations in recent years have fundamentally changed the way we do business. It is apparent that boards and directors have to prepare ourselves adequately for these new realities, to enable us to best make that leadership difference. Competent directors are a critical pillar of board effectiveness, significantly reducing the company’s risks by having the confidence to ask the right questions, seek the right information, challenge a viewpoint and hold management accountable.

“The International Directors Summit is a pivotal part of ICDM’s ongoing mission to prepare boards and directors to develop their capacity to be effective stewards of the companies they lead. This Summit serves as a reality check for boards and directors, to provoke consciousness, to offer a platform for you to evaluate your positions from all perspectives, facilitation the exchange of ideas and networks, and hopefully, gaining the ability to formulate the best way forward for boards,” YBhg Tan Sri Zarinah concluded.

Amongst some of the most engaging presentations and key conversations included:

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About the Institute of Corporate Directors Malaysia (ICDM):
ICDM was established by the Securities Commission Malaysia in July 2017 as one of the initiatives under the Corporate Governance Strategic Initiatives 2017– 2020 to encourage better business conduct by developing good corporate governance and more effective boards.

ICDM is also supported by Bank Negara Malaysia, Bursa Malaysia and the Capital Market Development Fund. For more information on ICDM, please visit our website at https://icdm.com.my/.

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Lok Ru Jun

Klareco Communications

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