Diversity, equity and inclusion efforts would not live up to their promise if we’re blind to the invisible factors that hold people back from fully participating in the economy, workplace and school.
Yi-Ren Wang , Assistant Professor of Organisational Behaviour at Asia School of Business illustrates this in her op-ed, part of a series of thought leadership pieces, Equity, Equality & Prosperity, in collaboration with The Edge and the 30% Club Malaysia.
Read about it in The Edge ESG section here.
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
● Enable Pillar – Board Mentoring Scheme led by
Pauline Ho, Partner, PwC Malaysia
Last month our Corporate Member AMCHAM Malaysia (American Malaysian Chamber of Commerce) along with 30% Club Malaysia hosted “Inspiring Allyship”. It was a special networking event to bring together corporate leaders, professionals, and advocates who share a common vision of cultivating a more inclusive corporate landscape.
The evening began with a welcome address by Siobhan Das Bachran (贝诗凡) CEO, AMCHAM. Our Chair, Dato’ Ami Moris then shared with us some insights about what’s needed to move the needle further to improve gender DEI on company boards and at senior management levels within Corporate Malaysia.
She also shared the good news that as at June 2023, women occupy 31% of the top 100 PLCs’ board seats in Malaysia. This was to have been achieved by the end of 2023, but advocacy and regulation have helped bring this forward! Now begins our journey to parity with more male allies on board.
Three corporate leaders who are male allies also shared their thoughts and experiences about Male Allyship. In the context of diversity, equity, and inclusion (DEI), a male ally refers to a man who actively supports and advocates for gender equality and works to dismantle gender-based biases and discrimination.
Male allies recognise the systemic barriers and inequities that women and other marginalised genders face and take action to promote a more inclusive and equitable environment.
We heard from Ahmad Shahriman M. CEO, CIMB Islamic Bank who shared with us about “Unlocking the power of male allyship”. This was followed by Rohit Nambiar, Group Chief Executive Officer, Tune Protect Group who enlightened us about “Allyship In Action. Then, Dato’ Sri Idris Jala, CEO, PEMANDU Associates shared his thoughts on “Managing Polarities” and ended his presentation with a mash up of two Blues songs. One an original composition “Hey Brother, Hey Sister” and the Eric Clapton classic “Before You Accuse Me (Take a look at yourself)”.
There was also a brief Q & A with all three speakers that may spur more male allies to join us on our journey to parity.
Great Eastern General Insurance Malaysia celebrated its recent joining as a Corporate Advocate of the 30% Club Malaysia and to generate greater awareness about #DEI and #ESG.
Here are some points from the panel discussion on Thriving By Unleashing The Potential Of DEI at Great Eastern:
👏 Ng Kok Kheng, CEO of Great Eastern General Insurance Malaysia said diversity is not limited to gender and is about mutually benefiting all generations with wisdom.
👏 Surina Ismail said we should value diversity – minorities enrich us with their different perspectives. And we need to make the business case for #DEI to get buy-in.
👏 Michelle Ann Iking said sometimes barriers are self-imposed. Women need to advocate for themselves more, and maximise time and opportunity with mentors that are assigned to them at workplaces.
Great Eastern has 64% women represented with one third in management and senior leadership positions. It recognises that more women can be in management.
Last month the 30% Club Malaysia held a Speed Mentoring Event bringing together 84 mid-career women from 25 companies, creating an unparalleled platform for growth and development.
Guided by seven experienced and insightful mentors, the attendees had the invaluable opportunity to tap into a wealth of wisdom and knowledge. Engaging in small workshops and mentoring sessions, they not only expanded their professional networks but also collaborated to identify the barriers that hinder their progress.
One prominent challenge that emerged during the event was the issue of visibility or the lack thereof. edotco former Regulatory Advisor Rema Devi Nair, a mentor imparted invaluable advice to women leaders seeking to overcome this hurdle.
She emphasised the importance of women holding themselves to the same standards as their male counterparts. To be taken seriously and recognised as experts in their fields, women leaders must be prepared, purposeful, and knowledgeable, positioning themselves as the go-to experts within their organisations.
Mentor Christina Foo, who is Board member of KPJ, UEM Sunrise, Ancom Nylex and Star Media Group offered valuable insights into effectively managing one’s time and making strategic choices. She empowered women to design their lives, emphasising the importance of setting boundaries and confidently saying “no” when necessary. By doing so, women leaders can allocate their time and energy towards endeavours that align with their goals and aspirations.
CIMB Group Holdings Board Member Ho Yuet Mee compared women leaders to swans – graceful and elegant on the surface, but underneath, their feet are tirelessly straddling the challenges and tasks that come their way.
Women leaders exude a natural sense of poise and grace, and inspire us with their ability to navigate through the complexities of the business world with finesse. But what most people don’t see is the sheer strength and determination that lies beneath their serene exterior.
The 30% Club Malaysia would like to thank all our mentors Rema Devi Nair, Christina Foo, Rejina Rahim, Yuki Aizawa 愛澤友己, Farhan Ahmad, Yuet Mee Ho, and finally, the 30% Club Malaysia would like to extend its gratitude to its dedicated Volunteer Advocates, Raj Kumar Paramanathan, Vani Mahadevan, and Geetha Kandiah, whose unwavering support contributed to the seamless execution of this empowering event.
The 30% Club Malaysia would also like to thank its Corporate Advocate CIMB Islamic for graciously hosting this event and providing an exceptional venue for the participants.
Recently, the 30% Club Malaysia together with CnetG Asia and HSBC Bank Malaysia Berhad organised the Professional Board Profile Writing Masterclass Programme for mentees of 30% Club Malaysia Board Mentoring Scheme.
The programme which has been running for the past three years encompasses interactive discussions, live review of resume, writing workshop and networking lunch.
The participants found the half-day session WoW! as it focused on self-reflections and the power of owning one’s space. Following are reflections from mentees after the programme.
“This session has been valuable as it helps me to evaluate my strengths, weakness as well as what are the competences that I have for board position,” said Luanne Sieh.
“Now, I need to lock myself in the room and put my thoughts in broad profile,” she added with a smile.
For Rayvathi Rajendra she found the programme interesting and useful.
The programme is tailored especially for women who aspire to be on board. The interactive and real-time review of the board profile writing during the workshop was an enlightening experience – we had to apply the tips that have been taught in the first session.
Emi Rice-Oxley wrote on her LinkedIn page that “humility is a virtue but sometimes it comes at the expense of underselling your expertise and achievements. This is true for everyone but especially women. The Masterclass helps distinguish overt, or maybe unconscious, bragging from real achievements,”
She added that “the collective experience of the amazing leaders from diverse industries enriches learning greatly. Regardless of the industry, we share many common concerns and uncertainties in navigating our professional journeys but the support and encouragement we gave each other go a long way to boosting our confidence and success,”
Having conversations, sharing thoughts and experiences from the participants have also helped the mentees to formulate their own thoughts and gave ideas on how to write their broad profile.
For example, how does one convert experiences into strength and competences? And writing them for board profile in a way that entices the board members? This programme helps to address this challenge.
The programme was conducted by Raj Kumar Paramanathan who is the Co-Lead of Activate Pillar of 30% Club Malaysia and Managing Partner of CnetG Asia, an executive search and leadership development firm.
Approximately 15 participants from the mentees of 30% Club Malaysia Board Mentoring Scheme attended the programme.
The 30% Club Malaysia collaborated with CIMB to celebrate International Women’s Day 2023 at Menara CIMB with a series of exciting sharing sessions and a stimulating all-women panel discussion.
With the theme #EmbraceEquity, which is part of an ongoing effort to raise awareness around “Why equal opportunities are no longer enough”, the session was both engaging and stimulating, highlighting the need for more women to be included in the digital economy.
The panel discussion featured female leaders who raised important points about how digital technology has opened new doors for women empowerment.
As we continue to work towards gender equality, corporate advocates like CIMB has taken proactive steps to advance the discourse on diversity, equity and inclusion (DEI) and inspire actions to achieve gender parity and inclusive diversity.
Recently Velesto Energy Berhad had an engaging session with the 30% Club Malaysia.
Its President, Megat Zariman Abdul Rahim, an advocate of the 30% Club Malaysia, strongly advocates for diversity, equity, and inclusion (DEI) and has actively contributed to a diverse range of 30% Club Malaysia initiatives.
“These endeavors highlight our unwavering commitment to promoting greater participation of women in senior positions within Corporate Malaysia and the oil and gas sector,” he said.
He added that this invaluable visit has further solidified its dedication to championing gender diversity and empowering women leaders. By collaborating closely with the 30% Club Malaysia and aligning its efforts, the company firmly believes that it can drive meaningful change and cultivate a more inclusive and diverse business environment.
The 30% Club Malaysia and Dutch Lady Milk Industries Berhad co-hosted an event to discuss and highlight Male Allyship and advocacy towards diversity, equity and inclusion.
The event was focussed on role of leaders as male allies, why it is important towards obtaining gender equity, advocacy continuum and really what leaders can do to become effective male allies, beyond mentoring and supporting career growth.
The event began with an opening address by Datin Seri Sunita Rajakumar, Chair Climate Governance Malaysia, Chair Dutch Lady Milk Industries Berhad. This was followed by Dato’ Ami Moris, Chair, 30% Club Malaysia; Advisor, Business & Sustainability, Maybank.
In her opening address, Dato’ Ami Moris shared a five prong shoutout to male allies. These are:
• Share the load of dishes and laundry, other household chores between spouses (etc)
• Speak out about inappropriate behaviour at the workplace
• Invite women to the table
• Don’t be a silent male ally
• Don’t accept the line “boys will be boys”
The panel discussion moderated by Anjali Velayudhan Menon, Human Resource Director, Dutch Lady Milk Industries Berhad included Syed Feizal Syed Mohammad, Group Chief Executive Officer of MSM Malaysia Holdings Berhad Berhad, Ramjeet Kaur Virik, Managing Director, Dutch Lady Milk Industries Berhad and Raja Amir Raja Azwa, Chief Executive Officer, HSBC Amanah Malaysia Berhad.
The panellists shared their personal experiences with male allies, including the language that could be used to set the right tone at the workplace, tips on how to spot talent then mentor and coach or sponsor a female executive who shows capability.
Both male allies Raja Amir Raja Azwa and Syed Feizal Syed Mohammad shared that they were raised by a single parent and they learnt a lot from their moms. These have stayed with them and they have brought these life learnings to their workplace. The gentlemen truly understand and appreciate that women are juggling multiple roles. While Syed is motivated by his principle of correcting unjust practices to create equality in workplace, Raja Amir is driven by having diverse views to achieve business goals.
In the course of the discussion, Ramjeet Kaur Virik Kaur also shared how her former MD as a male ally encouraged her to take on his role as a successor. She was reluctant as she was not ready. When he asked her to rate her readiness to take on a larger role, she rated herself as only 80-85% ready. The MD then said, “I only expected 60%! So, 80-85% ready for the role is great!”. This indicates how women tend to apply too high standards to themselves, letting go great opportunities.
The hybrid event was held in-person with many others who followed the event virtually.
Norlela Baharudin MIA,FCPA Aust,ICDM,TEFL our advocate and Executive Director at Berjaya Corporation Berhad spoke at a Gender DEI at the Workplace event where she shared challenges and lessons learnt.
The reality is there’s no overnight success as we battle biases and business-as-usual culture. Having female role models, allies and sponsors with influence help. It’s also the language, narratives and stories we tell that can help us re-imagine DEI possibilities.
Thank you to The Chinese Chamber of Commerce & Industry of Kuala Lumpur & Selangor and the Swedish Embassy Malaysia for inviting Lela to be a panelist.
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