The Malaysian Institute of Management (MIM) held its first-ever conference on the topic of SME Corporate Governance, shining a light on the numerous issues and challenges faced by smaller Malaysian firms when adopting international standards of Corporate Governance and Compliance.
For many years, the need for good Corporate Governance was primarily the concern of major businesses listed on the stock market. However, a growing trend towards globalisation is now forcing Malaysian SMEs to grapple with the subject. These small-to-medium-sized enterprises, often referred to as the backbone of the Malaysian economy, face increasingly stiff international competition.
Entitled: ‘Stepping up Corporate Governance, Compliance and Anti-Corruption Practices’ this half-day event was held from 8:30 a.m. – 2:00 p.m. on Thursday, 20 July, 2017, at the Pullman Hotel, Kuala Lumpur, Bangsar. It was organised in collaboration with the Basel Institute on Governance, and Konrad Adenauer Stiftung (KAS) a respected international NGO, among others.
The overall aim of the conference was to increase the effectiveness of Governance and Compliance within the Malaysian SME Sector. Specifically, discussions focused around:
- How organisations should be constituted and structured for good Governance
- Examples of Anti-Corruption Compliance best practice
- How to most effectively promote good Governance, Compliance and Anti-Corruption measures in support of Malaysian government initiatives
International Keynote Speakers were: Ms. Gemma Aiolfi, Head of the Basel Institute’s Compliance, Corporate Governance and Collective Action Unit and Mr. David Risser, Economist, Director and Partner, Nestor Advisors, UK.
MIM Chief Executive Officer, Mr. Sivanganam Rajaretnan, said: “This conference provides a pathway for Malaysian SMEs to successfully navigate the Governance and Compliance maze. In their role as suppliers to major global corporations, smaller firms are increasingly being asked to fulfill stringent criteria to prove their reliability as a business partner. Now, more than ever, they must provide clear and verifiable evidence of good Corporate Governance.”
He continued: “As the National Management Organisation, MIM is committed to promoting management skills and exposing Malaysian companies to best practice from all corners of the globe. We thank all our supporters and partners who have made this event possible and look forward to continuing with the important work of preparing present and future generations of managers and leaders for the challenges that lie ahead.”