M'SIAN CABINET APPROVES 30 PCT WOMEN AS DECISION-MAKERS IN CORPORATE SECTOR

KUALA LUMPUR (Bernama) - The Cabinet has approved the policy of
ensuring that 30 per cent of women are at the decision-making level in the
private sector, said Prime Minister Najib Razak.

He said the corporate sector had been given a five-year transition period to
raise the number of women as members of the board of directors of companies and
hold top positions in their respective companies.

"The Cabinet meeting last week had approved the request by the Women, Family
and Community Development Ministry to give an opportunity to qualified women to
become company directors.

"I believe this is the way for us to appreciate the role of women in the
context of our national development because the women's capability in handling
key positions had been proven.

"I believe that the decision made by the Cabinet is also a 'landmark
decision' which will change the participation of women in our country to a much
higher level," he said at a press conference at Parliament House, here Monday.

He said the approval of the policy was a continuation of the Policy of At
Least 30 Per Cent Women in the Decision-Making Level in the Public Sector
announced by the government in 2004, where the achievement had been encouraging.

Najib said the percentage of women in JUSA (premier grade) had increased to
32.2 per cent in 2010 compared with 18.8 per cent in 2004.

"This policy can become a catalyst in the affirmative measures taken towards
achieving gender equality in the corporate sector. Besides ensuring that
expertise, competitiveness and leadership abilities of women are optimised,
these measures can also lead to diversity and inclusion of the board of
directors," he said.

Currently, he said only 91 women (13.0 per cent) had been appointed as
members of the board in 2010 in the Finance Minister (Incorporated) companies.

On the other hand, out of the 200 companies listed on Bursa Malaysia up to
November 2010, only 7.6 per cent of the women were appointed as members of the
board of these companies.

"In addition, information provided by Bank Negara (Malaysia's central bank)
showed that only 45 women or 6.0 per cent had been appointed as members of the
boards of directors at the financial institutions up to April 2011," he said.

Najib said to ensure that the policy was implemented effectively, the Women,
Family and Community Development Ministry, in collaboration with agencies such
as Khazanah Nasional Berhad, Malaysian Alliance of Corporate Directors and
Malaysian Directors Academy would draw up a training programme to prepare women
with potentials to become members of the boards of directors of companies.

"I believe when there is already a decision such as the one I announced
earlier and if we can raise the number of talents and give them training, the
objective of 30 per cent women at the decision-making level in the corporate
sector will be achieved," he added.