akers, supervisors, and regulators are always trying to catch up with the evolution of markets. Malaysia’s corporate governance systems and practices should be constantly developed to keep up with the evolution of markets. The OECD paper in 1999 (Ad Hoc Task Force on Corporate Governance, 1999) aptly stated it this way: If countries are to reap the full benefit of the global capital market, and if they are to attract long-term “patient” capital, corporate governance arrangements must be credible and well understood across borders. Even if corporations do not rely heavily on foreign sources of capital, adherence to good corporate governance practices will help improve the confidence of domestic investors, may reduce the cost of capital and ultimately induce more stable sources of financing.
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