CDC, MICG COMMITTED TO ENHANCING GOVERNANCE IN PROCUREMENT PRACTICES IN PUBLIC, PRIVATE SECTORS

KUALA LUMPUR, July 18 (Bernama) -- Commerce Dot Com Sdn Bhd (CDC) and the Malaysian Institute of Corporate Governance (MICG) signed a memorandum of understanding (MoU) to promote transparency, accountability and good governance standards in procurement practices in both the public and private sectors nationwide.

CDC Group chief executive officer Kamal Shahaluddin said the collaboration was crucial to the company's continuing efforts to improve transparency and integrity in the country's procurement process.

"By combining our technological capabilities and MICG's governance expertise, we intend to set a new standard for public sector procurement, ensuring ethical practices and resolute governance comprehensively. 

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"We remain committed to helping micro, small and medium business enterprises by fostering a culture of accountability and excellence,” he said in a statement.

Meanwhile, MICG chairman Sujatha Sekhar Naik said the MoU signified a pivotal step towards practising governance by adopting technology and proving its commitment to instilling ethical practices that are entrenched in the corporate culture of both the public and private sectors.

"We hope that by consolidating the strengths of MICG and CDC, through resolute policies and monitoring to improve corporate integrity and benchmark ethical procurement practices, we can pave the way for a more responsible and transparent business landscape that will ultimately contribute to a better Malaysia,” she said.

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The statement also shared that MICG and CDC had outlined several initiatives under the MoU, including jointly hosting the 10th National Procurement Conference (NPC) at the Malaysia International Trade and Exhibition Centre (MITEC) on Aug 8.

The conference aims to encourage best practices to enhance transparency, accountability and ethical practices in procurement, strengthen governance processes and tackle corruption.

"It also aims to bring together experts and stakeholders to share views and strategies, discuss innovations and set standards that align with the Malaysia MADANI objective of fostering integrity and accountability, (and) ultimately ensuring a more transparent and ethical public and private sector.

"This collaboration also supports the National Anti-Corruption Strategy (NACS) 2024-2028 launched by Prime Minister Datuk Seri Anwar Ibrahim in May,” she said.

The CDC is the leading procurement solutions provider, famous for its main product, the ePerolehan (eP) system which has revolutionised the government's procurement process since its inception in 2000.

-- BERNAMA