Ok, time to switch to my other hat as a newly appointed Director of the Institute of Corporate Directors (maybe should call ourselves Meta-Directors). Anyway, the SC just launched the new Code of Corporate Governance ( https://www.sc.com.my/regulation/corporate-governance). Here's what I found interesting

Lot's of ppl focused on the issue of appointing active politicians on boards. But besides that, the role of the Chairman as neutral party is now strengthened by removing them from Audit, Remuneration/ Nomination Comms. Also, independent directors can only serve for max of 12 yrs

The 30% goal for female directors now applies to ALL listcos. Company policies on diversity now extend to Senior Mgmt as well & the duration of 3 yrs given as the definition of a "reasonable" period to meet goals. No more vague motherhood statements. Its all measures & targets

There's an entire new section on Sustainability! Still at a very early phase of implementation with a focus on governance, communication & accountability but its a start! Climate-related risks were specifically mentioned. P.S. Kids, consider studying Earth & Planetary science

Signifying the era of Covid, there are additional guidelines for e-AGMs which specifically hold boards accountable for meaningful shareholder engagement at virtual AGMs. You can't ignore the Q&A box, not like some facilitators at events

Companies will have to start reporting on these by 2022. All in all, a good start by the SC to enhance professionalism, independence & accountability of Msian public listcos. Key challenge now is compliance, given the large numbers of founding Chairmen & some risk aversion.

Still, I look forward to seeing more Boards transform, giving space to more diverse candidates who bring different skills to the boardroom. Boards now looking for candidates with expertise in health, environment, cybersecurity - outside the usual suspects of accountants & lawyers

I always thought being a Director would be my retirement plan. I never thought I'd be one at 35. Turns out avg age of Msian directors is 60. But the world is changing rapidly. ICDM is always looking for candidates thru Aspiring Directors Program. Check out https://icdm.com.my/adip