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Kuala Lumpur, 6 September 2017 – Malakoff Corporation Berhad (Malakoff) was selected as one of the finalists in PwC Malaysia’s Building Trust Awards 2017 that was held last night at Hilton Kuala Lumpur. Malakoff is among an elite group of 20 leading Malaysian organizations short-listed through its robust assessment and judging process. During the event, Sime Darby Bhd was crowned the winner for its efforts in building trust with its stakeholders.
Amongst the finalists, other than Malakoff, were Alliance Financial Group Berhad, Astro Malaysia Holdings Berhad, Axiata Group Berhad, CIMB Group Holdings Berhad, DiGi.com Berhad, Fraser & Neave Holdings Berhad, Gamuda Berhad, IHH Healthcare Berhad, Malayan Banking Berhad (Maybank), Maxis Berhad, Nestlé (Malaysia) Berhad, PETRONAS, Public Bank Berhad, SP Setia Berhad, Tenaga Nasional Berhad, Telekom Malaysia Berhad, Westports Holdings Berhad and YTL Corporation Berhad.
Conceived in 2015 with the inaugural Awards, the Building Trust Awards assesses how companies perform in their corporate reporting as well as how they are perceived in the eyes of their stakeholders including customers and investors. The Awards are the first in Malaysia to employ a distinctive way of measuring trust, beyond the financials of the companies assessed.
The companies were selected and then evaluated by PwC before a final shortlist of 20 is presented for face-to-face deliberation by an independent panel of judges that comprises regulators and “thought leaders” in corporate reporting and building trust issues.
PwC Malaysia managing partner, Sridharan Nair said that the winning companies had shown that building trust begins with a conscious effort to engage important stakeholders. He added that the winning companies had also demonstrated a keen understanding of how trust can promote business growth.
“The time is ripe for businesses to close the trust gap and rebuild faith in institutions, as the world at large continues to be weighed down by declining levels of trust in governments, institutions and businesses,” said Sri.
Speaking on the Awards, Habib Husin, Acting Chief Executive Officer of Malakoff, said that being selected as a finalist was a recognition of Malakoff’s efforts in being a good corporate citizen.
“Malakoff has been in the power industry for more than two decades and we endeavor to implement the best practices in our reporting, including clear disclosure of strategic priorities, linked to quantifiable KPIs and a broad overview of the business outlook. In addition to that, we continually strive to give a good impact to the local communities where we operate,” he added.