PwC Malaysia’s biennial Building Trust Awards, now in its fourth year, put a spotlight on Corporate Malaysia’s top public-listed companies that have worked hard to build trust with their stakeholders — an important initiative given the pandemic’s headwinds.
This year’s awards considered companies in the FBM Mid 70 Index, with Sime Darby Property Bhd taking first place, followed by KPJ Healthcare Bhd and Yinson Holdings Bhd — both of which were tied for second place.
Malayan Banking Bhd (Maybank) won the FBM KLCI category of the 2021 Awards, which were held virtually this year, with Sime Darby Bhd and Axiata Group Bhd finishing second and third, respectively.
“Maybank has had the opportunity to refine its practise of building trust for over 60 years,” said Datuk Abdul Farid Alias, group president and CEO of Malayan Banking Bhd. The pandemic served as a catalyst for us to step up our efforts to reach out to and support our stakeholder groups through targeted initiatives. “Our top priority is to ensure the safety of our customers and employees.” We are deeply honoured to be a part of the Awards and grateful to PwC for emphasising the trust-building component, which has been shown to be such an important value in an organization’s sustainability, particularly in the post-pandemic environment.”
Datuk Azmir Merican, group managing director of Sime Darby Property Bhd, stated that trust is essential in the property developer’s 50-year experience in developing sustainable townships and communities.
“We aim to be a ‘Force for Good’ by fostering resilience through biodiversity, design, products, and communities, and it is incumbent on us to do so in the years ahead.”
According to PwC Malaysia managing partner Soo Hoo Khoon Yean (Soo Hoo), trust is critical during times of crisis, and a lack of trust can lead to setbacks.
“The Building Trust Awards were conceived to raise awareness of the importance of trust in business, which is aligned with our purpose of ‘Building trust in society and solving important problems,'” he explained.
Sir David Tweedie, past chairman of the International Valuation Standards Council and chief judge of the awards, said assessing trust amid the Covid-19 pandemic was a study in Malaysian companies’ trust-building efforts.
“Through their corporate reporting, the winning companies were able to demonstrate how their corporate governance and strategic priorities fit into their overall business strategy.” With the addition of ESG reporting, it’s clear that the winning companies are aware of how the market is changing,” he said.
Six companies received Special Mentions for their efforts in other areas of the methodology.
Sime Darby Bhd received a Special Mention for “PwC Malaysia’s Integrated Reporting Benchmarking Analysis and ESG Reporting Benchmarking Analysis” in the FBM KLCI category, while Petroliam Nasional Bhd (Petronas) was recognised for “PwC Malaysia’s Trust Analytics Framework and Building Trust Public Poll.”
Telekom Malaysia Bhd was also honoured with a Special Mention for the “PwC Malaysia-Asia School of Business Trust and Leadership Survey.”
Meanwhile, Sime Darby Property Bhd received a Special Mention for “PwC Malaysia’s ESG Reporting Benchmarking Analysis” and KPJ Healthcare Bhd received a Special Mention for “PwC Malaysia’s Trust Analytics Framework and Building Trust Public Poll,” while Alliance Bank Malaysia Bhd received recognition for “PwC Malaysia-Asia School of Business’s Trust and Leadership Survey.”
By recognising companies that are putting in the most effort to build trust, PwC hopes to demonstrate that trust is a measurable asset with tangible benefits for those who are authentic and consistent in their efforts.
“Ultimately, the trust landscape is ever-changing.” The pandemic has taught us that people value honesty and transparency. Being open about their challenges and how they intend to address them helps to build trust in Corporate Malaysia.
“I hope to see our finalists inspire others in their own trust-building journeys in the months and years ahead,” Soo Hoo said.
