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According to Malaysia’s prime minister Datuk Seri Najib Tun Razak, public-listed companies (PLC) which do not have any women on their boards of directors will be named and shamed – as reported in The Star.
PM Najib said in the report this action is done to achieve the target of having 30% women directors in the private sector. He commented: “As of December last year, we have 16.8% of women on the boards of directors of PLCs. We are short by 13.2%.”
He highlighted that he has also “given warning” that the government will publish the list of PLCs that do not have women on their boards of directors next year. He said: “We will name and shame these companies.”
“I can also threaten them by not giving government contracts for the really recalcitrant companies,” he added.
Speaking at a TN50 dialogue on 4 September, he believes that this help to create “a dramatic change in women representation on boards of directors.”
In his speech, Najib also highlighted the progress of women’s development and achievements in the past few years. He noted that female labour force participation had increased to 54.3% last year in 2016, as compared to 46.4% when he first took office in 2008. He remarked: “As for education, we have 64% of women in public tertiary education institutions as of 2016, compared to 59.7% in 2007.”
“These are among the achievements and progress made by Malaysian women that prove the saying ‘when women succeed, a nation will also succeed’,” he concluded.
Photo / 123RF