Spotlight on capital markets and MY Value Up

The 2026 boardroom test: Turning the valuation gap into investor conviction​

the-2026-boardroom-test.
  • Publication
  • 10 minute read
  • July 2026

The Securities Commission Malaysia and Bursa Malaysia's MY Value Up initiative brings a new boardroom question into focus: not whether a company is performing well today, but whether investors have reason to believe it will continue creating value in the future.​

Malaysia’s public-listed companies are recognised for their resilience, profitability and governance standards. Yet strong fundamentals do not always translate into higher market valuations.​ ​

For boards, MY Value Up is more than a disclosure exercise. Closing the gap between value created and value recognised requires a coherent narrative that demonstrates how the company intends to deliver its sustainable value creation plans over a multi-year horizon. ​ ​

In practice, this means clearly connecting strategy, execution, capital allocation, targets and performance, governance, and investor communication. ​ ​

While voluntary public release of Value Up plans is only expected in 2027, 2026 offers a window for boards, especially the Top 88 public-listed companies targeted by the programme, to shape the agenda. Companies that are not proactive may find their value creation story written by the market rather than on their own terms.

Key insights

Going beyond disclosure and capital actions​
Stronger valuations are unlikely to be achieved through disclosure, dividends or buybacks alone. Companies need to articulate a credible value creation story that investors can understand, assess and track over time.

​The board's role in making value visible​
Boards play a central role in translating future corporate performance into investor conviction by aligning strategy, capital allocation, governance and communication around long-term value creation.

A window in 2026 to act​
While MY Value Up is voluntary, the implementation pathway provides a defined timeline. Boards that use 2026 assess their valuation gap, identify the value creation levers that matter most, align management accountability, and prepare for increased investor scrutiny will be better positioned as market engagement accelerates.

Early movers will shape the benchmark​
As companies begin publishing their Value Up plans, market expectations will evolve. Early movers have an opportunity to help define the benchmark against which others will be assessed.

The 2026 boardroom test:​

Turning the valuation gap into investor conviction​

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Jay Moorthy

Jay Moorthy

Deals Partner, Valuations Leader, PwC Malaysia

Marina Che Mokhtar

Marina Che Mokhtar

Deals Partner, Economics and Policy Leader, PwC Malaysia

Muhammad Fahmi Mohd Khalid

Muhammad Fahmi Mohd Khalid

Partner, Government & Public Sector Leader, PwC Malaysia

Sean Soon

Sean Soon

Deals Director, Deals Strategy and Operations, PwC Malaysia

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