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 Muzafar 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. 

"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 marks a significant stride in practicalising governance by leveraging technology and affirming our commitment to embedding strong ethical practices within the corporate culture in both the public and private sectors.

"By combining our strengths, we hope through robust policies and oversight to enhance corporate integrity, and raise the benchmarks in ethical procurement practices, paving the way for a more accountable and transparent business landscape that ultimately contributes to a better Malaysia,” she said.

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