This study securitized the effects of corporate governance (CG) on performance of Federal Statutory Bodies (FSB) in Malaysia. Various static approaches have been used such as Pooled OLS, Fixed Effect and Random Effect to analyze cross sectional time series data over the year of 2009 to 2013 for 51 FSB. The study found a strong evidence of significant positive effects of Corporate Governance, including Internal and External Governance mechanism on financial and non-financial performance: Key Result Areas (KRA); Accountability Index (AI) and Return On Equity (ROE). It is therefore recommended that the Malaysian public sector agencies should enhance good corporate governance practices in order to accelerate their performance.
