OECD Corporate Governance Factbook 2025: Malaysia
Table of contents
This Country Note consolidates information published in the 2025 edition of the OECD Corporate Governance Factbook. Along with the summary of recent developments, it provides an overview of Malaysia’s corporate governance framework and related information benchmarked against 51 other jurisdictions covered by the Factbook, including all OECD and G20 members.
The information in this document is as of 31 December 2024 unless otherwise specified.
For further details, please refer to the OECD Corporate Governance Factbook 2025.
In May 2023, Bursa Malaysia amended its Listing Requirements to strengthen conflict of interest rules involving directors and key senior management with listed companies and its subsidiaries.
In August 2023, the Securities Commission Malaysia (SC) and Bursa Malaysia introduced the Mandatory Accreditation Programme Part II: Leading for Impact Programme (LIP)1, a mandatory sustainability onboarding programme for directors of listed companies.
In November 2024, Bursa Malaysia amended its Listing Requirements to set the requirement for listed companies to disclose remuneration of the Chief Executive Officer on a named basis. Previously, such requirement only applied to directors of listed companies.
In September 2024, the SC, as Chair of the Advisory Committee on Sustainability Reporting (ACSR), issued the National Sustainability Reporting Framework (NSRF). The NSRF addresses the use of the ISSB Standards2 as the baseline sustainability disclosure standards for companies in Malaysia, as well as the assurance requirements for sustainability reporting. The NSRF will be implemented through a phased approach3.
In December 2024, Bursa Malaysia amended its Listing Requirements to affect the implementation of NSRF for listed companies in Malaysia. For non-listed companies, the Companies Commission of Malaysia is undertaking the necessary process to affect the NSRF by 2027.
At the same time, the amendments issued in December 2024 also outlined the requirement for listed companies to only hold general meetings in a physical or hybrid mode.
Between June and August 2025, the Audit Oversight Board of the SC issued a public consultation on the proposed framework for sustainability assurance.
In July 2025, the SC announced a revision of the Malaysian Code of Corporate Governance (MCCG) with a launch targeted for 2026. A discussion paper will be issued to gather market feedback to guide enhancements to the code.
|
No. of listed companies in Dec 2024 |
Change since Dec 2021 |
Market capitalisation in Dec 2024 |
Ratio to GDP |
||
|---|---|---|---|---|---|
|
Malaysia |
1 018 |
|
9.1% |
USD 448 bn |
106.7% |
|
OECD members |
21 618 |
|
4.3% |
USD 92 518 bn |
136.5% |
|
World |
46 086 |
|
11.3% |
USD 124 536 bn |
112.7% |
Note: “World” covers 98 jurisdictions. “OECD members” covers 38 countries.
Source: OECD Capital Market Series Dataset. IMF.
Note: “World” covers 98 jurisdictions.
Source: OECD Capital Market Series Dataset.
Note: The share of companies in each jurisdiction where the single largest shareholder and the three largest shareholders own more than 50% of the company’s equity capital. “World” covers 98 jurisdictions.
Source: OECD Capital Market Series Dataset.
The categories that the jurisdiction fits into are highlighted in blue.
The bold numbers and words indicate country-specific additional information.
The numbers within parentheses indicate the number of jurisdictions applicable to each category.
For further information on the methodologies used for the categorisations, please see the OECD Corporate Governance Factbook 2025.
* Some jurisdictions belong to multiple categories because of the additional requirements other than a percentage of shareholding.
** Following the amendments to the Bursa Malaysia Main Market Listing Requirements (LR), from 1 March 2025, all listed companies
in Malaysia are required to hold in-person or hybrid general meetings.
* Jurisdictions where mandatory takeover bid rules exist are included.
** Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.
* Binding for directors’ remunerations.
* Some jurisdictions belong to multiple categories.
* Some jurisdictions belong to multiple categories.
This work is published under the responsibility of the Secretary-General of the OECD. The opinions expressed and arguments employed herein do not necessarily reflect the official views of the Member countries of the OECD.
This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.
The full book is available in English: OECD (2025), OECD Corporate Governance Factbook 2025, OECD Publishing, Paris, https://doi.org/10.1787/f4f43735-en.
© OECD 2025
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← 1. LIP aims to provide all directors of listed companies with a foundational and baseline knowledge on sustainability.
← 2. The IFRS Foundation has recognised Malaysia’s commitment to sustainability reporting in its recently issued Jurisdictional Profile. Malaysia is acknowledged as adopting the ISSB Standards with limited transition, representing the only jurisdiction in the ASEAN region.
← 3. Group 1 (2025): Main Market listed companies with market capitalisation of MYR 2 billion and above; Group 2 (2026): Other Main Market listed companies; Group 3 (2027): ACE Market listed companies and large non-listed companies with annual revenue of MYR 2 billion and above.