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MSWG to monitor all financially troubled and China-based companies from 2019

August 27, 2018 5:45 AM
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KUALA LUMPUR: The Minority Shareholders Watch Group (MSWG) will expand its assessment coverage to include all Practice Note 17(PN17) companies and China based listed companies from next year.

The minority shareholders activism group's CEO Devanesan Evanson told reporters that the decision to monitor all PN17 companies and China based listed companies are in view of the risk and issues surrounding such companies.

"Once you become PN 17, you are already a risky company. Shareholders have a greater risk of losing. China listed companies have a history of accounting frauds and problems," he said.

Currently, MSWG actively monitors some 300 listed companies - of which six are China based. The new addition could expand its coverage by another 20 more companies.

On another note, the group today launched its latest edition of the Malaysia-Asean Corporate Governance Report 2017.

Of the 880 public listed companies studied for the report, 17 scored a corporate governance (CG) score of more than 100 while 113 companies scored below 50.

The finance sector, which is heavily regulated, emerged as the sector with the highest CG score of 78.94 points.


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