EPF the most trusted Malaysian entity in 2021: Study

Employees’ Provident Fund (EPF)  is the most trusted Malaysia entity in 2021 with 79% trust index followed by Bank Negara Malaysia (BNM) and Petronas tied in close second positions with 77%, according to research firm Ipsos Malaysia.

Ipsos said that POS Malaysia and Tenaga Nasional Berhad (TNB) were also in the top five trusted companies with 75%.

The data was collected from 3000 face-to-face interviews in 2021 with more than 100 companies and institutions.
Government-linked companies (GLC) entities have seen a significant increase in trust index to 68% compared to the previous year with 60% while government or public regulators increase by 7% to 64% compared to 57% in 2020.

Across most categories, the most trusted companies are homebred, with few exceptions such as Apple and Samsung for a mobile device, Shopee for e-commerce while Netflix gains the most trusted position in this industry for Malaysia for media or entertainment.

Celcom was listed as the most trusted telecommunications company in the country and as for the banking sector, Maybank claimed the top spot in the banking sector among other banks in the country and Perodua for the automotive sector.

Touch ‘n Go emerged to be the most trusted e-wallet service with a trust index of 55%, while Dutch Lady topped among consumer goods and the most trusted insurance provider was Takaful Malaysia.

Ipsos MD Arun Menon stated 2021 was a turbulent year with the raging pandemic, economic uncertainties, and natural calamities as the country naturally looked up to private and public sector entities to support them through these difficult times.

“Most organisations and institutions in Malaysia have done a commendable job in helping the public throughout the year as the high and improved trust level in organisations is seen as recognition of this effort.

“2021 has seen GLC’s and regulatory bodies improving their position much better than the private sector. In addition to the direct involvement, these organisation’s role through Malaysian government national recovery programs has resulted in exceptional trust levels,” he said.