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Bursa Malaysia Launches PLC Transformation Programme

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Unveils The First Digital Guidebook

Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) launched the PLC Transformation Programme which was officiated by YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Finance Malaysia on 2nd March 2022. The objective of the PLC Transformation Programme is to help raise the stature of Corporate Malaysia and increase the attractiveness of public listed companies (“PLCs”) in Malaysia.

The programme, that will run through to 2025, aims at steering all PLCs towards accelerating their growth strategies and improve performance. Besides enhancing their positioning and attractiveness, the outcome will also serve as a catalyst to elevate our market’s competitiveness vis-à-vis other exchanges in the region. Fundamentally, the programme will help PLCs achieve higher levels of performance through sharing of best practices and insights, enhanced engagement and greater transparency practices.

Core to the PLC Transformation Programme is the development of five digital guidebooks, based on the following key tenets for PLCs to:

• Be Purpose and Performance-Driven;
• Grow as Sustainable, Socially Responsible and Ethical Organisations;
• Have Strengthened Stakeholder Management and Investor Relations;
• Be Digitally Enabled; and
• Contribute towards overall Nation Building.

All the digital guidebooks will be issued in 2022.

“As one of the key drivers towards building a resilient economy for Malaysia, it is more important than ever to empower PLCs to enhance their market competitiveness, so they can help grow and sustain investors’ interest in our capital market,” said YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz.

“Through Bursa Malaysia’s guidebooks and other initiatives, the PLC Transformation Programme aims to assist PLCs in identifying areas of development that are aligned with key global trends and multi-stakeholders’ expectations. These efforts will certainly enhance the PLCs’ investability, particularly as themes such as Environmental, Social and Governance are quickly becoming front and centre among global investors.”

“The decline in our PLC’s profitability in recent years indicates a clear need for PLCs to undergo transformation not only to enhance their performance, but also to future-proof themselves as global competition intensifies,” said Tan Sri Abdul Wahid Omar, Chairman of Bursa Malaysia. “We are confident that the programme will benefit not only Corporate Malaysia, but it will also produce several positive outcomes that among others will boost market confidence and aid Malaysia’s overall economic recovery.”

“PLCs must remain agile in today’s highly challenging economic landscape, while maintaining a relentless focus on sustainable outcomes,” said Datuk Muhamad Umar Swift, CEO of Bursa Malaysia. “If participating PLCs remain committed to adopting leading best practices and are focused on growth, we strongly believe that the PLC Transformation Programme will help elevate the stature of our PLCs.”

Throughout the programme, webinars and engagements will also be undertaken by the Programme Champions, to encourage and assist PLCs towards delivering sustainable and robust financial performance. Although the PLC Transformation Programme is not prescriptive, the efforts and progress of these PLCs will be monitored via a digital dashboard to encourage transparency and effective achievement of the intended outcomes.

“The support of industry champions and corporate leaders is critical throughout the PLC Transformation Programme. The programme’s success is dependent on a whole-of-industry approach where key industry stakeholders collectively and continuously encourage and guide PLCs in their journey of growth. I encourage PLCs to have a positive mindset and take advantage of this opportunity and rise to the challenge of committing to performance,” concluded Tan Sri Abdul Wahid Omar.

The launch of the PLC Transformation Programme today also saw the unveiling of the programme’s first digital guidebook, titled “Creating Purpose & Performance Driven Public Listed Companies (PLCs)”, which is now available for download on the Bursa Malaysia website.

From left to right: Tan Sri Mohammed Azlan Hashim, Chairman of Telekom Malaysia Bhd, Datuk Syed Zaid Albar, Chairman of the Securities Commission Malaysia; YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Finance; Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia; and Dato’ Sri Amrin Awaluddin, Group Managing Director & Chief Executive Officer of Lembaga Tabung Haji
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