Survey: Petronas, EPF among the best in crisis management

by LYDIA NATHAN / pic by BLOOMBERG

MALAYSIA’S oil firm Petroliam Nasional Bhd (Petronas) and retirement fund Employees Provident Fund (EPF) are among the top five companies that were able to manage a crisis situation compared to the private sector last year, based on a market survey by Ipsos Malaysia.

The other three organisations are fast-food brand McDonald’s, car manufacturer Perusahaan Otomobil Kedua Sdn Bhd (Perodua) and Malayan Banking Bhd (Maybank).

Some 65% out of 4,000 respondents in the survey — titled “Malaysian Organisations Managing Through Crisis” that polled over 100 local brands — agreed that Petronas managed the crisis the best in 2020.

This was followed by Maybank at 62%, both McDonald’s and EPF at 60%, and lastly Perodua at 59%.

Ipsos MD Arun Menon said while consumers and the general public expect companies to contribute to the recovery from the pandemic, organisations have been adapting to survive themselves.

“2020 has forced companies to respond to a crisis that no one saw coming, and many have taken quick and decisive actions.

From repurposing production capabilities to engaging in new and creative ways to support consumers, some companies have managed the crisis in a way that will enhance their trust among consumers and citizens,” he said in a statement.

Arun added that government-linked companies (GLCs) and regulators received strong results, having been at the centre of the pandemic response.

“Actions have ranged from reengineering products to supporting government initiatives and changes in communications strategy to address the new situation.

“Maybank and Pos Malaysia Bhd stood out for open and honest communication. Maybank was also associated with having a strong financial performance last year, while the EPF led in terms of supporting local communities and McDonald’s scored the highest for putting its customers first,” Arun added.

In the same survey, close to half of the 4,000 respondents believed that GLCs and government regulators were able to manage a crisis better than companies in the private sector.

For the GLC category involving 12 companies, a total of 49% of respondents agreed that they were able to manage a crisis.