Malaysia gets top ranking for having the most rules and regulations for corporate governance in Asia but is rated average for enforcement, according to a survey conducted by independent brokerage and research house CLSA Ltd.
Columbus Circle Governance Sdn Bhd managing director (advisory) Ranjit Singh said Malaysia scored nine on a scale of 10 for having the most rules and regulations for corporate governance but only 3.5 in enforcement.
Countries that scored worse than Malaysia in terms of enforcement were Thailand (3), the Philippines (2) and Indonesia (1.5), he said.
The survey conducted last year also took into account three factors: adaptation to international generally accepted accounting principles, political and regulatory environment, and international mechanism and corporate governance culture.
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