7 of top 100 companies in Malaysia still have all-male director boards

Time for a change in the board room?

There are only seven companies that still have an all-male board among the top 100 companies in Malaysia as of Jan 17 this year.

The Securities Commission Malaysia (SC) said in statement that this is a 65% improvement from the 20 companies as of Dec 31, 2016.

The seven companies named are Affin Holdings, Alliance Bank, Batu Kawan, Fraser & Neave Holdings, Genting Plantations, Genting Malaysia and UOA Development.

These companies have been actively engaged and the SC understands that some are taking steps to identify suitable candidates to secure women participation on their boards.

The statement said that Fraser & Neave will be nominating two female candidates to be appointed as board members in its upcoming annual general meeting.

As of Dec 31 last year, 19.2% of board seats on the top 100 listed companies on Bursa Malaysia were occupied by women, up from 16.6% the year before.

The SC said that it has set a target to have no all-male boards on the top 100 companies by the end of 2018.

Under the Malaysian Code of Corporate Governance released in April last year, companies are required to disclose their gender diversity policy, targets and measures.

Under the Code, large companies are expected to have at least 30% female directors on their board.

Promoting gender diversity on boards of listed companies remains a top priority of the SC.