Media Clippings

PETALING JAYA: The National Annual Corporate Report Awards (Nacra) 2021 saw CIMB Group Holdings Bhd, Sunway Bhd, Kumpulan Perangsang Selangor Bhd and Petroliam Nasional Bhd taking top honours. The awards are jointly organised by Bursa Malaysia, Malaysian Institute of Accountants (MIA) and the Malaysian Institute of Certified Public Accountants (MICPA) which strive towards excellence and AMIR IMRAN HUSAIN SAFRI improvement of corporate reporting in Malaysia.

In a congratulatory message, Bursa Malaysia chairman Tan Sri Abdul Wahid Omar highlighted the need for better corporate reporting resulting from the Covid-19 pandemic. “Companies must now examine how to bring certain underlying company fundamentals to the forefront, rather than focusing solely on earnings highlights. They should AMIR IMRAN also be prepared to discuss how to position the company to thrive once the social and economic sectors have recovered from the pandemic,” he said in a statement.

Moving forward, Wahid anticipates a greater environmental, social and governance (ESG) adoption post-pandemic, moving into 2022, the global movement towards sustainability will gain even more traction. Aside from the need to comply HUSAIN SAFRI with the updated Malaysian Code on Corporate Governance (MCCG) 2021, he pointed out the impetus to embrace ESG is clear as it is not a case of “nice to have” but a case for survival.

“In light of these developments, finance professionals must realise that their role now is no longer limited to just reporting financial metrics, but to play a key role in embedding a clear and well-defined ESG strategy within their AMIR IMRAN HUSAIN SAFRI organisations.” In his speech, MIA and MICPA president Dr Veerinderjeet Singh encouraged organisations to integrate sustainability-related considerations into all aspects of their business and consider ESG in their strategies and reporting framework. “One recent development is the need for tax governance to also be considered in the context of ESG as tax transparency is also a global issue.”