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The Sun
10 hours ago
- Business
- The Sun
ICDM highlights importance of benchmark certification for company directors, boards
KUALA LUMPUR: The Institute of Corporate Directors Malaysia (ICDM) wants company directors and boards to be more than mere corporate figureheads ahead of the introduction of a formalised director certification framework to advance the professionalisation of boards. The institute encourages corporate directors to discard outdated mindsets, relearn what the future demands and embrace innovation with courage and a relentless commitment to board excellence and their continuous development. It also emphasises the importance of the coming launch of a national Professional Directors Certification Framework (PDCF) this year, a new benchmark for board directors. The PDCF is a structured, competency-based pathway for directors and the industry, globally aligned with a benchmarked baseline qualification. This aligns with the roadmap set out by the Securities Commission Malaysia to achieve a resilient and high-performing capital market. ICDM president and CEO Michele Kythe Lim stated that, at present, anyone can be selected as a board member, and there are no specific qualifications required. 'We want to raise the standard and improve governance while supporting the Securities Commission's priority in the capital market to increase returns. If you're a better governing board with a better-run company, you'd have better profits and returns in the capital market. 'That's our intention, and we are supporting this as well,' she said after the institute's 8th annual general meeting held recently. ICDM is Malaysia's national institute of directors dedicated to strengthening corporate governance and board effectiveness through world-class director development and advisory services. Lim said the new national set of standards aims to significantly accelerate the growth of a diverse and qualified talent pool of directors across both the public and private sectors, as well as government-linked boards, to help companies achieve optimal board composition from the outset. She added that it is important to ensure board members of companies are chosen fairly based on a qualified and fixed standard that allows them to contribute to the company well. Lim said ICDM has grown considerably over the past year, with its overall revenue increasing 53%, its Leading for Impact Programme's revenue rising by 172%, and Aspiring Directors Immersion Programme's revenue increasing by 211%. 'Our directors' registry also features 1,264 prescreened, board-ready candidates who can take up the role of board member,' she added. Lim emphasised that the future of an organisation depends on the precise and integral leadership of boards and directors. 'Therefore, they must champion governance, accountability, and performance standards with the same rigour they demand from the companies they oversee. As the national institute of directors, we are committed to these standards, a commitment proven by an independent Board and Director Effectiveness Evaluation of our own board, which reaffirmed our strengths,' she said. ICDM executive vice-president and succeeding president and CEO Jackie Mah said it is rewarding to see members appreciate the projects and initiatives that they have taken on, particularly to engage members more holistically. 'We've grown our member base from a small base to up to 1,500 last year,' she said. 'Members were satisfied and happy with development training that we do as well as our advisory support and they really felt that we have set up an ecosystem to help directors progress to the next level.' Mah said ICDM has delivered over 500 programmes and trained more than 30,000 directors. 'Just as we hold employees of organisations to certain standards and evaluate them with clear key performance indicators, boards and directors should also have mechanisms in place to evaluate their performance and development.' 'The PCDF is not just a certification – it is a commitment to ensuring exemplary standards and quality of leadership among directors across the public and private sectors to meet rigorous, clearly defined benchmarks,' Mah said.
IOL News
6 days ago
- Climate
- IOL News
ICDM praises quick response teams during Eastern Cape's severe weather crisis
Cooperative Governance and Traditional Affairs (Cogta) Minister Velenkosini Hlabisa. Image: Department of Cooperative Governance and Traditional Affairs / Facebook The Intergovernmental Committee on Disaster Management (ICDM) has expressed appreciation and thanked disaster management teams for their quick response, and urged them to continue searching for missing victims. The ICDM made these comments during a Tuesday night meeting convened by Cooperative Governance and Traditional Affairs (Cogta) Minister Velenkosini Hlabisa to assess progress in disaster relief measures. Political leaders from across the three spheres of government, including the South African Local Government Association (Salga) and the National House of Traditional and Khoi San leaders, form part of the ICDM. Hlabisa said that while all provinces have experienced severe incidents of extremely cold weather, with high winds and coastal provinces experiencing rough seas and rainfall, the province of the Eastern Cape has been hardest hit by the current severe weather incident. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ A scholar minibus transporting children was swept away by water on Tuesday in the Eastern Cape, leading to a loss of life. 'We are deeply saddened by the tragic minibus accident, and our hearts go out to the families and loved ones of those who lost their lives, and we extend our sincere condolences to them,' Hlabisa said. ICDM members expressed their deepest condolences to the families and communities, especially in the OR Tambo District Municipality, where the incident occurred. Hlabisa said nine deaths have been recorded to date. 'May the souls of our dearly departed loved ones rest in peace, and may their families find strength and solace during this difficult time. We join you as you mourn this tragic loss,' Hlabisa said. The ICDM was briefed on the ongoing search and rescue efforts for the missing scholars from the minibus accident. These operations, spearheaded by the South African Police Service, are in and around Mthatha. It also called on the public to bring to life the spirit of Ubuntu by supporting the families and communities affected by inclement weather conditions. Hlabisa said current weather conditions are a reminder that climate change is upon us, and more must be done to mitigate the changes to save lives and livelihoods. Following recent incidents, all provincial and sector departments briefed the meeting on the current disaster relief efforts. The meeting acknowledged the significant progress made in securing alternative housing for families displaced from their homes. Hlabisa said technical experts are being mobilised to ensure urgent attention is given to damaged water infrastructure. Water tankers are directed to provide clean drinking water where needed. Other teams are providing psycho-social services where needed. While social partners and various non-governmental organisations like the Gift of the Givers, Al-Imdaad Foundation, etc, are also assisting. Hlabisa said the ICDM has commended them for their efforts to provide hot meals, blankets, and other support measures. The minister said the meeting also complimented members of various clean-up teams and municipalities in the Eastern Cape and KwaZulu-Natal, who have successfully ensured all major roads are open and traffic can flow. 'While this is good news, members of the public are once again explicitly reminded to drive with extreme caution as roads are wet and above all, are advised not to attempt to pass through streams or strong flowing rivers,' Hlabisa said. He said the South African Weather Service provided welcome relief from the current conditions, advising that inclement weather will subside as the cut-off low causing the incident heads out to sea. The weather will improve from Wednesday.
