Kuala Lumpur, 19 December 2022 - Alliance Bank has been recognised to be among the “Top 20 ASEAN Publicly Listed Companies” (PLCs) for having good corporate governance recommended practices at the recent 2021 ASEAN Corporate Governance Scorecard (ACGS) Awards.

International best practices of corporate governance were used as the basis for the award evaluation which also went through a peer-review process. The evaluation covered the following five areas which are shareholder rights, equitable treatment of shareholders, stakeholder role, disclosure and transparency as well as board responsibilities.

The award programme is an initiative of the ASEAN Capital Markets Forum (ACMF) which comprises capital market regulators from all 10 ASEAN jurisdictions. ACGS was first held in 2011 as part of efforts to promote regional integration and the ASEAN region as an asset class and investment destination.

the same awards programme, Alliance Bank also received the “ASEAN Asset Class Award” which is given to PLCs that obtained a minimum score of 97.5 points out of 130 maximum points as well as an award for being the “Top 3 PLCs per Country”.

Group Chief Executive Officer Kellee Kam said that these awards are testament to the bank’s corporate culture and strong emphasis on doing what’s right.

“Doing right by our stakeholders is part of our DNA which guides all our strategies, decisions and actions in delivering value to our customers, employees and the community. These awards attest to the excellence and professionalism at Alliance Bank as we continue to uphold strong corporate governance in all areas of our business,” Kam said.

These awards come on the heels of the bank being ranked 1st place in the “Excellence Award for Corporate Governance Disclosure” among Malaysian PLCs at the MSWG-ASEAN Corporate Governance Award 2021 which was organised by the Minority Shareholders Watch Group (MSWG).

MSWG is a government initiative that was set up to protect the interest of minority shareholders and is an avenue for market discipline that encourages good governance among PLCs. For the latest instalment of their annual award programme, a total of 864 Malaysian PLCs were assessed and the overall CG score has improved from 79.28 points in 2020 to 83.58 points in 2021 or a 5.4% increase.

For more information on Alliance Bank, please visit https://www.alliancebank.com.my.