The Securities Commission has on 14 November 2025 released its Corporate Governance Monitor 2025 (“CG Monitor 2025”), which provides data-driven insights to guide targeted interventions and inform policy enhancements ahead of the upcoming Malaysian Code on Corporate Governance (“MCCG”) revision planned for 2026.
Key Takeaways from the CG Monitor 2025
- Strong overall adoption of the MCCG: Among others, the CG Monitor has recorded that 33 of 48 best practices now record at least 90% adoption and board governance improvements are notable, with 73% of public limited companies (“PLCs”) no longer having board chairmen sit on board committees.
- Gaps: Although overall adoption levels remain robust, certain practices continue to present difficulties, particularly those that require meaningful changes in organisational culture and behavioural norms. For example, only 45% of total PLCs have achieved at least 30% women representation on their boards and only 5% of PLCs disclose the detailed remuneration of their senior management.
Impact of the CG Monitor 2025 on the upcoming MCCG revision
The CG Monitor 2025 findings will inform the forthcoming revision of the MCCG, with proposed enhancements focusing on board leadership and effectiveness, technology governance, risk oversight, and stakeholder engagement. In support of this, the SC will conduct a market survey to gather feedback on emerging governance trends and global developments and may introduce further guidance or practical tools to facilitate adoption.
With the upcoming MCCG revision, PLCs are encouraged to proactively review their governance frameworks to ensure alignment with evolving MCCG expectations and prepare for heightened compliance and disclosure standards.
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