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KUALA LUMPUR: The Securities Commission will collaborate with Asean corporate governance (CG) experts to develop a CG Scorecard to rank public-listed companies (Plcs) in the region.

The CG experts are National University of Singapore Business School Associate Prof Mak Yuen Teen, Thai Institute of Directors’ Rongruja Saicheua and Malaysian CG specialist Prof Salleh Hassan. They will assess Asean Plcs against an evaluation criteria and develop a list of ranked companies which is expected to be released in the first quarter of 2012.

Funded by the Asian Development Bank, the Asean CG Scorecard and CG Ranking of Asean Plcs are aimed at raising CG standards and practices in the region, and enhancing the visibility and investment profile of quality Asean Plcs internationally.

“For example, Thai companies have always come up with detailed minute meetings. Malaysia and Singapore can learn from such transparency,” said Mak at a media briefing in Kuala Lumpur yesterday.

A CG ranking methodology has been established by leveraging methodologies already implemented in Asean countries, as well as those applied by multilateral agencies such as the Organisation for Economic Co-operation and Development.

The scorecard would be used to rank the top 30 Plcs in each of the participating countries Malaysia, Indonesia, the Philippines, Singapore, Thailand and Vietnam. This initiative will produce an annual top Plcs list for the region.

“Bonus items will be given for companies that go beyond the minimum standards and penalty items will be given for companies with poor practices,” said Rongruja.