Association president Khoo Boo Boon said: "We will be setting out stricter rules on how pitches should be conducted so that the process is fairer to agencies.
"Our members will meet in February to discuss the issue and I am hopeful that we will have new guidelines in place within the next few months after that."
Telekom Malaysia caused a furore last September when it invited more than 30 agencies to pitch for its corporate account. That has now been whittled down to a shortlist of five; however, agencies taking part said the final decision was constantly being delayed.
"First it was November, then it was December. Now, it's next month," a source said.
One senior agency executive, who spoke on condition of anonymity, said that pitch guidelines usually don't work in most markets, but stressed that Malaysia was unique.
"There are a number of quasi-government bodies, like Telekom, which have an entrenched bureaucracy which goes against the principles of transparency.
So, clear pitch guidelines could work in Malaysia, because all agencies are fed up with how it is now."