Malaysia Introducing New Anti-Corruption Requirements for Companies

Publicly listed companies in Malaysia will be required to adopt anti-corruption measures detailed in the Malaysian Anti-Corruption Commission Act by June 1, according to a Jan. 9 report from the Hong Kong Trade Development Council. The measures will require companies to establish “clear procedures” for reporting corruption and review the “effectiveness” of their policies at least once every three years, the report said. The measures are aimed at promoting “better corporate governance” in Malaysia to establish a “culture of ethical behaviour within listed companies and their group entities.”