detail - Malaysia Office
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This conference, which was opened by Dato' Ng Tieh Chuan, Chairman of the Malaysian Institute of Management – a cooperation partner of Konrad-Adenauer-Stiftung since 1977 – focused on issues and challenges faced especially by Small and Medium sized Enterprises (SMEs) in inculcating good governance and compliance in their respective industry. SMEs form the backbone of the Malaysian economy. 98% of all business establishments are SMEs, they contribute 36,6% to GDP and 65,3% to overall employment.
The two renowned Keynote Speakers of the conference, Gemma Aiolfi, Head of Compliance and Corporate Governance, Basel Institute of Governance, Switzerland and David Risser, Director & Partner, Nestor Advisors, UK, underlined the importance of strengthening ethical standards in the SME sector, especially in times of globalization. Anti-corruption compliance programmes form an important factor to increase foreign investments. Good governance practices of a company give a positive signal to investors and where it is lacking, as in most small and micro enterprises, investors tend to raise a lot
According to Mrs. Aiolfi and Mr. Risser good corporate governance is vital for the development of a healthy and competitive corporate sector. The key benefits of corporate governance to small enterprises include a better and stronger system of internal controls, accountability, transparency, and an enhanced strategic vision. A lack of good corporate governance may be the reason for the high levels of failure in small and micro enterprises. Corporate governance is essentially about leadership. It is a guideline system that structures the operating and controlling of a business to achieve good business management, good consideration for staff and good relations with trading partners.