. Leadership from the top levels of government is necessary to pro- mote public confidence in the state‟s commitment to implementing the rule of law. 7 Corporate Governance in Asia (2010) 8 IOSCO, 2010

percent of the votes and another with 20 percent. Five direc- tors need to be elected. without a cumulative voting rule, each shareholder must vote separately for each director. the majority shareholder

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