30% Club Malaysia Celebrates a Milestone for Gender Diversity in Corporate Malaysia

• • – Achieved 30% women board representation on aggregate for top 100 PLCs

• • – Aims to achieve gender parity in boardrooms of all PLCs by 2030

• • – Appoints new strategic pillar leads and creative agency to support ambition
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Kuala Lumpur, 13 July 2023 – A significant milestone has been achieved in
Corporate Malaysia with women holding 30.6% of board seats of the top 100 public
listed companies (PLCs) and close to 25% of seats of all PLCs on Bursa Malaysia,
based on data provided by the Securities Commission.

 

 

The achievement, proclaimed as a first step for meaningful gender diversity on
Malaysia’s boards, was achieved on 1 June 2023, six months ahead of the 30% Club’s
target date of 31 December 2023.

 

 

 

 

Dato’ Ami Moris, Chair of the 30% Club Malaysia and Advisor at Maybank Group said,
“The 30% representation is seen to be a tipping point in providing women leaders with
an influential voice, and for boards to move closer to gender parity. The biggest jump
in women on board representation was recorded from 2021 due to Bursa’s Listing
Requirements for all PLCs to have at least one woman director by 1 June 2023,
supported by the collective action of leaders of Diversity, Equity and Inclusion (DEI).”

 

 

“There is increasing push for DEI efforts to serve Environmental, Social and
Governance (ESG) imperatives. As it evolves, DEI is about winning the battle for talent
to future proof organisations for growth and innovation. Numerous studies have shown
that companies with more diverse boards tend to outperform and are ahead on
achieving their climate action goals. Investors are likewise scrutinising boards for their
diversity.”

 

 

Stepping up on ambitions and goals

Building on the momentum for diversity, the 30% Club aims to help catalyse more
PLCs to achieve 30% women representation on boards. As of 1 June 2023, 45 of the
top 100 and over 700 of all PLCs have yet to do so.

 

 

Dato’ Ami said, “When the 30% Club was established in Malaysia in 2015, its 30%
goal was thought to be highly ambitious. As comparison in the UK, women now hold
nearly 40% of board seats of FTSE100 companies. Our next target is for parity of men
and women on all PLCs by 2030. It’s a huge ambition, but not one that we shy away
from.”

 

 

The continued success of the 30% Club Malaysia is attributed to leveraging its three
strategic pillars:

 

● Activate Pillar – Activating Corporate Advocates that are interested in leading
and signalling their DEI efforts. To date, 51 organisations have joined the 30%
Club campaign. This year they include institutional investors, Khazanah
Nasional Berhad and Permodalan Nasional Berhad (PNB).

 

● Influence Pillar – Engaging key stakeholders to embed DEI in public policies
and advocate for DEI across their ecosystems. The 30% Club had worked with
the Institutional Investors Council (IIC) to include 30% women on board
representation in its revised Malaysian Code for Institutional Investors.

 

 

● Enable Pillar – Building a sustainable pipeline of board-ready women leaders
and professionals through various initiatives such as the Board Mentoring
Scheme in collaboration with PwC. Since 2017, 106 women have been
mentored, and 41% of them have secured board positions.

 

Since October 2021, the 30% Club Malaysia received active support from Maybank,
its corporate sponsor. that marked a new chapter in the business-led campaign’s
journey.

 

Dato’ Ami added, “As more companies embrace DEI, the demand for board-ready
women candidates is set to accelerate. Increasingly, we are seeing more women with
sustainability, digital technology and international background securing board seats.”

“I would urge companies to move from mentoring to sponsoring women leaders in the
boardrooms and senior leadership. This involves more active and concerted efforts to
get women with the right competencies and skillsets to the right seats.”

 

 

Appointing new leadership and resources

 

Committed to strengthening and sustaining its business campaign, the 30% Club
Malaysia is also pleased to announce its new steering committee with effect 1 July
2023, comprising the following. INED is Independent Non-Executive Director. ED is
Executive Director.

 

Chair: Dato’ Ami Moris, Advisor, Maybank Group

 

● Activate Pillar, led by
Marzida Mohd Noor, INED, Affin Bank

• • Frances Po, INED, Sentral REIT Management
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  • ● Influence Pillar, led by
    Rejina Rahim, Co-Founder, Wahine Capital

• • Ar. Ahila Ganesan, INED, Velesto Energy

• • Low Ngai Yuen, INED, GDEX and OCK
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  • ● Enable Pillar – talent engagement led by

• • Raj Kumar Paramanathan, Managing Partner, CnetG Asia

• • Geetha Kandiah, CEO, KASS International
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    ● Enable Pillar – Board Mentoring Scheme led by
    Pauline Ho, Partner, PwC Malaysia

• • Norlela Baharudin, ED, Berjaya Corporation, and INED, Prokhas

• • Shireen Iqbal, CEO and ED, Alpha REIT Managers, and INED, UM Properties
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• • New co-leads in their respective pillars.
  • The committee includes the Marketing, Communications and Secretariat leads:

• • Noelle Lim, Maybank Investment Banking Group

• • Jacinta Vythilingam, Spinmeister Communications

• • Syaheera Abdul Hamid, Maybank Investment Banking Group

• • Wan Mazlina Wan Mustafa
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  • The 30% Club is also pleased to announce that TBWA\Malaysia, part of the
    TBWA\Worldwide creative collective, has come onboard to assist with creative and
    campaign efforts. TBWA has been named by Fast Company as one of the world’s
    most innovative companies in 2023, for the fifth year in a row since 2019.
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  • Dato’ Ami said, “The skills and experiences of the new steering committee and
    professionals reflect the intensity of the 30% Club’s work going forward. On this note,
    I wish to thank the previous committee members for their dedication and invaluable
    contribution in laying the foundation for success. They have played an instrumental
    role in shaping the direction of the Malaysian chapter of the 30% Club, and serve as
    an inspiration to all of us. They remain as stalwart advocates.”
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  • The steering committee takes advice and guidance from the Advisory Council
    comprising Tan Sri Zarinah Anwar, Tan Sri Dr Jeffrey Cheah, Dato’ Abdul Aziz Abu
    Bakar, and Anne Abraham.
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