As per the CG Watch Report published by the Asian Corporate Governance Association, Malaysia bagged the 4th position out of 12 Asia-Pacific counties when it comes to market accountability.
In 2016, Malaysia garnered the seventh places so it moving to the 4th place in 2018 showed remarkable market value for Malaysia; especially since Malaysia stood out amongst her rivals including Australia, Canada, China, Japan, and Hong Kong.
The rise in Malaysia’s position shows that the government continuously showcased exclusive administration in its competency, transparency, and accountability.
As a result, through its optimistic policies and use of anti-corruption measures the Malaysian government could open tenders in its procurement process more smoothly. This increased transparency and saw a positive impact on private sectors.
Further, with the application of zero-based budgeting and institutional reform agenda, the government could garner suitable profits and emerge in one of the top positions in the global corporate government sectors.