FOR IMMEDIATE RELEASE
1 DECEMBER 2023
CORPORATE REPORTING EXCELLENCE RECOGNISED BY NACRA 2023
Last night, a total of 33 winners in different categories were celebrated from amongst 52 participating organisations at the 33rd National Annual Corporate Report Awards (NACRA) awards presentation dinner held in Kuala Lumpur. The prestigious NACRA awards were bestowed on organisations that demonstrated excellence in their corporate reporting encompassing both financial and non-financial information. CIMB Group Holdings Berhad, Carlsberg Brewery Malaysia Berhad, Sunway Construction Group Berhad and Petroliam Nasional Berhad (Petronas) emerged with top honours as the Platinum Excellence Award winners in their respective categories.
Launched in 1990, NACRA is jointly organised by Bursa Malaysia Berhad, Malaysian Institute of Accountants (MIA) and The Malaysian Institute of Certified Public Accountants (MICPA) with the aim to promote excellence in annual corporate reporting.
NACRA 2023 Organising Committee Chairman – Mr Tang Seng Choon gave a warm welcome to everyone after three years of organising the awards virtually. He stated that “NACRA’s theme, ‘Towards Accountability and Excellence’ underscores the vital role annual reports play in propagating transparency and enhancing integrity within the capital markets. Even in today’s world of instant information, an annual report remains a powerful tool to communicate a company’s strengths and strategies to key stakeholders. It tells the story of an organisation’s achievements, overall goals and objectives, financial position, growth, its people and commitment towards sustainability.”
In his congratulatory message delivered at the awards ceremony, Guest of Honour – Tan Sri Abdul Wahid Omar, Chairman of Bursa Malaysia stated that “NACRA’s awards serve as a beacon, encouraging corporations towards better reporting practices. The recognition by NACRA motivates companies to introspect and improve their approach to reporting. This influence is crucial in cultivating a business environment that values transparency, responsibility, and forward-thinking, thereby contributing significantly to the progression of corporate reporting standards in Malaysia.”
He also shared, “With the global business landscape becoming ever more complex, the shift towards Integrated Reporting (IR) and Sustainability Reporting has become increasingly pronounced. This evolution is not merely a trend; it represents a fundamental change in how corporations communicate their value creation story. As companies are increasingly being held accountable for their environmental and social impact, frameworks such as the International IR Framework advocates for integrated thinking, and transparent reporting, highlighting business relationships with the wider society.”
Before the results were announced, Mr Ong Chee Wai, the NACRA 2023 Adjudication Committee Chairman in his address shared that “This year saw stiff competition among the participating organisations with more than RM10 billion in market capitalization, where a majority of the participants scored very high marks.” He commended the quality of corporate reporting under this category and continued, “High quality financial reporting forms the backbone of effective corporate governance and ensures transparency and accountability to stakeholders.”
He also shared that “The participating organisations under the other categories have also performed well. It is notable that a number of them scored a distinction. The quality of reporting puts them on par with the corporate reporting of the larger organisations.”
NACRA is open to all companies incorporated or registered in Malaysia as well as the public sector and other organisations established in Malaysia.
SEE APPENDIX FOR FULL LIST OF WINNERS
NOTE TO EDITOR:
Bursa Malaysia is an exchange holding company incorporated in 1976 and listed in 2005, and has grown to be one of the largest bourses in ASEAN today. Bursa Malaysia operates and regulates a fully-integrated exchange offering a comprehensive range of exchange-related facilities, and is committed to Creating Opportunities, Growing Value. Learn more at www.bursamalaysia.com.
Malaysian Institute of Accountants (MIA)
Established under the Accountants Act 1967, MIA is the national accountancy body that regulate, develops, supports and enhances the integrity, status and interests of the profession in Malaysia. MIA accords the Chartered Accountant Malaysia or “C.A. (M)” designation. Working closely alongside businesses, MIA connects its membership to a wide range of information resources, events, professional development, and networking opportunities. Presently, there are more than 38,000 members making their strides in businesses across all industries in Malaysia and around the world. MIA’s international outlook and connections are reflected in its membership of regional and international professional organisations such as the ASEAN Federation of Accountants (AFA), and the International Federation of Accountants (IFAC). For more information on MIA, visit www.mia.org.my.
The Malaysian Institute of Certified Public Accountants (MICPA) The Malaysian Institute of Certified Public Accountants (MICPA) was incorporated in 1958 and is the only local body in Malaysia which conducts a professional accountancy examination recognised under the Accountants Act 1967. MICPA’s objective is to advance the theory and practice of accountancy in all its aspects, recruit, educate and train a body of CPAs who are equipped with the technical knowledge and competencies needed to provide value add services of the highest quality. The CPA designation is widely recognised as a premier brand of professional business qualification. For more information: www.micpa.com.my.
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