Business

Tuesday May 5, 2009

MACD soft launch this month

By CECILIA KOK


,B>Its services will help advance corporate governance in Malaysia

KUALA LUMPUR: The Malaysian Alliance of Corporate Directors (MACD) will soft launch its services on May 22 as the first step towards making a definite headway in the area of sound corporate governance in Malaysia.

The momentous event for MACD will feature a keynote address by Professor John H. Farrar, who is a distinguished professor of corporate governance from the University of Auckland Business School and the joint director of the New Zealand Governance Centre.

In line with the objectives of MACD, Farrar will be lecturing on “Board Decision-Making: The Challenge of Good Governance and the Business Judgement”.

MACD is a not-for-profit company limited by guarantee established by directors, for directors and of directors to be the advocate that represents the broad interests of corporate directors, professionals and business leaders.

Datuk Jaffar Indot ... The move is to raise the profile of Malaysia’s corporate directors

Founded in February, the organisation’s mission is to encourage corporate leaders to make voluntary commitment to restore and promote public and investor confidence in corporate Malaysia through best practices.

According to MACD president Datuk Jaffar Indot, the move is to raise the profile of Malaysia’s corporate directors to be at par with their international peers in terms of professionalism in the practice of corporate directorship, governance and social responsibilities.

This, he reckoned, would be an effective way to put Malaysia back on the map of foreign investors.

MACD deputy president Paul Chan told StarBiz yesterday that the company was currently engaged in a national drive to recruit members, which MACD envisions to be directors from both public and non-public limited companies, as well as corporate professionals and even students.

As part of its ongoing recruitment drive, Jaffar revealed that MACD had also approached several reputable organisations in the country to join MACD as chartered members. The response, thus far, had been encouraging, he added.

Chan said he was optimistic about the organisation being able to secure the commitment of at least 10 select companies to be its chartered members.

As chartered members, these corporations are to stand as champions of developing professionalism in corporate directorship.

Pending confirmation from the Securities Commission (SC), the soft launch of MACD is expected to be held at the SC auditorium.

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