Malaysia Code Of Ethics Summary

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CHAPTER 2: BODY 2.1 Malaysian Code on Corporate Governance 2012 Malaysian Code on Corporate Governance(MCCG) 2012 which been released by Securities Commission(SG) on 29 March 2012, has sets out specific recommendations on structures, broad principles and processes which companies should adopt in making good corporate governance an integral part of their business dealings and culture. An excellent achievement towards corporate governance by promoting good compliance and corporate governance culture as well as strengthening self and market discipline is one of the objectives of MCCG. There are about eight principles which followed by 26 corresponding recommendations had being set out by the MCCG 2012. The principles are including an establishment…show more content…
These codes of conduct and ethical behavior are the general code in Malaysia. The first one is the directors must have a sense of accountability and responsibility. Here it means that every decision and action that being taken by each of the director in Malaysia to the Group, is accountable to them. Any type of scrutiny which is appropriate to their company must be submitted by them. Then, the directors also has the role to be an integrity person in implemented their work. To be an integrity director, in order to avoid themselves from trying any inappropriate things in their work, they must avoid themselves under any obligation to people or organizations that might do so. Gaining any self-financial, benefits or any property for themselves or family or friends by taking any decision that will leading to those things is prohibited. So, they have to make declaration and resolve any relationships and interest while in the meeting to each of the board director and…show more content…
Then the directors also have to make sure that the company is effectively managed and properly control for all the time as well as the director must make times to attend meetings and knowing the requirements of the board and each of the directors in order to discharge those functions. The directors also must insisted themselves on being kept informed for all matters which importance to the company to make sure an effective corporate management. The company secretary which is responsible to the board which acts to ensure a proper rules, regulations and procedure must be refer by the directors to access advices and services. The power that the directors have must be used in for the interest of the company not for themselves. They also must be honest which must informed all his contractual interest whether indirectly or directly. The directors must always act with his most good faith in the company when exercising their
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