He said governments and regulators were aware that sustainable economic growth required a proactive regulatory approach, and that the new government was determined to restore Malaysia’s status in global public governance standings.
“It is my remit and that of the SC to discharge our duties with the utmost professional competence and highest levels of personal integrity,” he said in a statement in conjunction with the annual Asian Roundtable on Corporate Governance (ARCG) here today.
Syed Zaid said regulators should have an effective overview of business activities in order to build strong businesses.
“It is better to ensure good governance now because it is far less costly than paying for the consequences of bad governance later,” he said.
He stressed that gender diversity on the board and senior management remained a key priority in the SC’s corporate governance agenda.
To accelerate Malaysia’s national target of 30 per cent women on boards by 2020, the SC has introduced various initiatives to encourage a more diverse board composition, he said.
“We will be working closely with the Institutional Investor Council to drive the gender diversity targets in Malaysia,” he said.
Meanwhile, over 100 regulators, academics, representatives from global and regional institutions took part in the ARCG.
The two-day closed-door event was jointly organised by the SC and the Organisation for Economic Cooperation and Development.