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Best corporate governance for third year [New Straits Time (Malaysia)]
[January 19, 2014]

Best corporate governance for third year [New Straits Time (Malaysia)]

(New Straits Time (Malaysia) Via Acquire Media NewsEdge) KUALA LUMPUR: Media Prima Bhd was voted the best in corporate governance in Malaysia in AsiaMoney's 2013 Corporate Governance Poll for the third consecutive year.

The win by the media giant underlined its dominance in the corporate governance space, AsiaMoney magazine said.

The magazine conducted a poll from Asia's top executives and research analysts on the state of corporate governance.

The survey found that most of Asia's top executives and research analysts believe that corporate governance had improved during the past 12 months.

Fifty-four per cent of respondents said there had been an improvement, compared to 44 per cent in 2012. It also found that only eight per cent thought there was deterioration in corporate governance "Such optimism is the result of companies seeking better credibility and valuation. Institutional investors that purchase blocks of shares in regional companies will increasingly do so following great scrutiny of those companies," AsiaMoney said.

The poll was conducted as cases of fraud, creative accounting and suspension of trading become more frequent on the business pages of Asia's media.

However, AsiaMoney said the steady development and improvement in Asia's corporate governance standards and practices are far less well reported.

"As the volume of investor assets in the region continue to grow, the level of sophistication in management and corporate management is also having to evolve," the magazine said.

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