25 January 2008
KUALA LUMPUR: A new award focusing on Corporate Responsibility (CR) was launched here today by YB Dato’ Sri Mohd. Effendi Norwawi, Minister in the Prime Minister’s Department.
The StarBiz-ICR Malaysia Corporate Responsibility Awards is introduced to recognize and honour companies that demonstrate outstanding CR practices that go beyond community and philanthropic activities.
Chairman of ICR Malaysia, Dato’ Johan Raslan said, “By emphasising the language of corporate responsibility, we wish to encourage companies to focus more on thinking about what business they are in and how they choose to operate that business. Thinking about CR helps our businesses consider about how we go about doing the business we have chosen, and to inject responsible behaviours into the value chain.”
Executive Director and Group COO of Star Publications (M) Bhd, Datin Linda Ngiam said, “Going beyond news reporting, The Star is committed to higher level of engagement and involvement in the CR agenda. That’s why we are taking this bold step to organise these awards instead of just reporting them.”
The awards is not open for nomination and only companies listed on the Bursa Malaysia will be assessed.
The PLCs will be divided into two (2) categories on the grounds that the larger enterprises may already adhere to a higher set of reporting standards. The two (2) categories are:
1.Market capitalisation exceeding RM 1 billion
2.Market capitalisation of RM 1 billion or less
They will be assessed based on the four (4) dimensions – Marketplace, Workplace, Environment and Community. Data already developed by Bursa Malaysia will be used as part of the judging process. In addition the PLCs’ annual report and website information will also form the basis of review by the Panel of Judges.
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The Panel of Judges for the Awards comprise:-
Y Bhg Datuk Zarinah Anwar, Chairman of the Securities Commission (Chairman, Panel of Judges)
Y Bhg Dato’ Yusli Mohamed Yusoff, CEO of Bursa Malaysia Berhad
Y Bhg Datuk Rafiah Salim, Vice-Chancellor of University Malaya
Y Bhg Dato’ Kok Wee Kiat, Chairman of Environmental Quality Council Malaysia and
Prof Jeffrey Sachs, Director of the Earth Institute.
The Awards are endorsed by the Economic Planning Unit (EPU) and supported by both the Securities Commission Malaysia and Bursa Malaysia Berhad. The working partners for the Awards are ACCA, PricewaterhouseCoopers and Securities Industry Development Centre (SIDC).
Ultimately, the objective of the Starbiz-ICR Malaysia Corporate Responsibility Awards is for the rankings to be Malaysia’s own version of the FTSE4Good or Dow Jones Sustainability index, thus differentiating our market and companies from competition in the rest of Asia, to the benefit of Malaysia and its capital market.
The winners are expected to be announced in August 2008.
