The history of corporate governance and control in Malaysia / Khairul Anuar Kamarudin and Wan Adibah Wan Ismail

Attention to corporate governance has emerged in Malaysia since the introduction of the Companies Act 1965 and was subject to progressive development long before the 1997 economic crisis. The 1965 Act describes the roles and responsibilities of directors and managers to keep proper accounting records (Abdullah & Mohd Nasir, 2004). Subsequently, the Securities Industries Act (SIA) 1983 and the Securities Commission Act (SCA) 1993 provided a legislative and regulatory framework for the Malaysian capital market. These last two Acts prohibited artificial trading and market rigging, thereby effectively regulating the operations of securities dealers (Liew, 2007).