Sime Darby awarded ‘Best Overall Reporting’

By KEVIN WONG / Pic By ISMAIL CHE RUS

Homegrown conglomerate Sime Darby Bhd is awarded “Best Overall Reporting” in the ACCA Sustainability Report Awards (ACCA MaSRA) 2017 for the second consecutive year.

The Association of Chartered Certified Accountants (ACCA) Malaysia advisory committee president Datuk Merina Abu Tahir said the conglomerate had maintained its standards from the previous year as its submission was a class above other participants.

“They have also demonstrated how sustainability was innovatively managed at senior management level, which has impressed the judges,” she said in her speech in Kuala Lumpur yesterday.

Other winners for the ACCA MaSRA 2017 were Malayan Banking Bhd, Axiata Group Bhd, CIMB Group Holdings Bhd and Sunway Construction Group Bhd.

Merina added that the ACCA MaSRA 2017 participants were leading by example.

“They were demonstrating how sustainable business practices are a key part of corporate risk management and crucial in determining a company’s investment potential.

“At the same time, ACCA’s efforts are motivated by our strong belief that accountants and finance professionals need to have an active role in providing viable solutions to the global sustainability challenges,” she said.

ACCA Malaysia, she said, strives to promote transparency and best practices with the aim to help businesses realise the importance of sustainability.

Additionally, through the ACCA MaSRA programme, ACCA has observed that an increasing number of local companies have started to demonstrate accountability with strategic drive that is on par with international best practices.

“The programme, which was introduced in Malaysia in 2002, is to identify and recognise organisations which report and disclose full environmental, social and governance information.

“Looking at how it is today, it has become a key platform to educate and support organisations in improving their quality of reporting and increase the overall standards of sustainability reporting in the country,” Merina said.

At the same time, with the introduction of Bursa Malaysia’s Sustainability Reporting Framework, ACCA MaSRA’s initiative will serve as a catalyst towards enhancing the sustainability reporting.

Companies with a market capitalisation of over RM2 billion are required to comply to Bursa Malaysia’s Sustainability Reporting Framework, where there are 126 companies currently under this category.

Meanwhile, ACCA MaSRA 2017 had received 59 submissions; with nearly 20% of the submissions from new entrants.

Merina said the increase in the number of participants reflects the better acceptance of sustainability reporting and compliance with the listing requirements.

“We are gratified for the support extended by our partners and endorsers toward this awards programme,” she said, adding that the programme is also recognised under the country’s Transformasi Nasional 2050 initiative.