Reform Priorities in Asia: Taking Corporate Governance to a Higher Level Taking Corporate Governance to a Higher Level reform priorities in Asia 2011 REFORM PRIORITIES IN ASIA: TAKING CORPORATE

List of foreign auditors approved by the office of SEC No. Audit Firm Name CPA No. Approval Period 1 Baker Tilly Monteiro Heng PLT Baker Tilly Tower Level 10 Tower 1 Avenue 5 Bangsar South City 59200

Declaration Under the ESG Declaration, shared action priorities are set: 1. Governance: Ensure good corporate governance and effective oversight at the board level, with clear accountability and responsibility

-determined, acceptable level. 5 Important Notes • I do not consider the minimization problem of ruin probability as in Bayraktar & Young (2007) because ruin is not the absorbing state. • The earner continues

problem of purchasing power and incomes which have not yet recovered. Furthermore the liability stayed in high level and this was slightly speeded up the consumption. Therefore, it affected the expense

household income were decreased, together with household debt that remained stay in high level, therefore it caused the decrease of household sector’s purchasing power continually. While the investment of

years during the past 5 years prior to the application date. ✓ ✓ 2 Passed Level 1 or higher of the Certified Investment and Securities Analyst (CISA) or Chartered Financial Analyst (CFA) examination, or

many areas and debt amount remained in high level. Confident index of consumer continuously decreased. Therefore, it affected the expense atmosphere to be sluggish. Cost of goods sold was 138.13 million

slowdown of investment environment throughout the country. Cost of goods sold and services decreased in portion of decreasing revenue but expenses were increase at the same level as last year and interest

public enforcement in Asia, the first of its kind elaborated at a regional level. The Guide is the result of two years' work by a Task Force chaired by Ms. Selvarany Rasiah, Chief Regulatory Officer, Bursa