KUALA LUMPUR: Bursa Malaysia Bhd hoped that more public listed companies (PLCs) would come on board to jointly embark on the PLC Transformation Programme, aimed at improving the performances of the companies and raising the stature of Corporate Malaysia.
Bursa Malaysia chairman Tan Sri Abdul Wahid Omar said the programme was inspired by the government-linked companies (GLCs) Transformation Programme from 2005 to 2015 that saw significant strides forward especially in recording at least 10 per cent growth in profit.
“Perhaps, for PLCs, it will be more focused, less prescriptive and voluntary basis within five years,” he said during his keynote address at the PwC Malaysia’s Building Trust Awards 2023 last night.
Besides improving the performances, he said, the programme would assist PLCs to be sustainable, socially responsible, ethical and contributing towards nation building.
Meanwhile, PwC Malaysia managing partner Soo Hoo Khoon Yean said companies were running a tough race amid unprecedented levels of stakeholder scepticism and weariness over the economic climate, hence trust needs to prevail and businesses need to take the lead in building trust.
“Indeed, the fast-changing environment has made it more complex for companies to achieve sustained outcomes and earn the trust they need to succeed,” he said.
Quoting the 2023 Global CEO Survey, he said only 51 per cent of Malaysian CEOs polled in the survey believed that their companies will be economically viable for another 10 years or less if they continue on the current path.
Winners of the PwC Malaysia Building Trust Awards 2023 include Petronas under the FBM KLCI category, while Maybank and Sime Darby Plantation bagged second and third place respectively.
For the FBM Mid 70 Index, Fraser and Neave Holdings emerged the winner, followed by Yinson Holdings in second place. – BERNAMA
