Securities Commission Malaysia Updates The Malaysian Code On Corporate Governance

On 28 April 2021, the Securities Commission Malaysia ("SC") issued an update to the 2017 edition of the Malaysian Code on Corporate Governance ("MCCG"). The updates took effect on 28 April 2021.
 
In this article we will examine the main updates made to the MCCG.
 
Background
 
To put the updates in context, we will first provide some background information on the MCCG.
 
The MCCG is based on three key principles: (A) board leadership and effectiveness; (B) effective audit and risk management; and (C) integrity in corporate reporting and meaningful relationships with stakeholders ("Principles"). These Principles are supported by Intended Outcomes ("Intended Outcomes").