Event highlights

Date:
6 September 2017

Opening remarks:
Dato’ Mohammad Faiz Azmi, Executive Chairman, PwC Malaysia

Keynote speech:
Yang Berbahagia Tan Sri Dr. Zeti Akhtar Aziz, Former Governor, Central Bank of Malaysia; current Co-Chair Board of Governors, Asia School of Business 

Host:
Stephanie Caunter, Executive Director, and Ling Hsern Wei, General Manager

Sime Darby Berhad was announced as the Winner of PwC Malaysia’s Building Trust Awards 2017 at an awards ceremony attended by close to 120 industry captains and business leaders in Malaysia.

Axiata Group Berhad was named as Runner-Up for its efforts in building trust with its stakeholders. 

Conceived in 2015, the Awards is the first of its kind in Malaysia which employs a distinctive way of measuring trust, looking beyond the financials of the companies assessed.

The Building Trust Awards assesses how companies perform in their corporate reporting as well as how they are perceived in the eyes of their stakeholders (for instance, their customers and investors).  

Special Mentions were also given to these companies for their efforts in building trust as indicated[1] by:

• PwC’s Integrated Reporting <IR> Framework benchmarking analysis - Sime Darby Berhad
• PwC’s Trustworthy Organisation Model - Astro Malaysia Holdings Berhad
• PwC Malaysia’s “Trust in Business: Public Poll” - Nestlé (Malaysia) Berhad 

For more info, read about our Methodology and see what went on behind the scenes at the Judges' Meeting.

The night kicked off with an opening video which featured CEOs from the Top 20 Finalist companies, highlighting their views on this initiative and why trust-building matters to them.  

PwC Malaysia’s Executive Chairman Dato’ Mohammad Faiz Azmi delivered the opening remarks. “Many people have asked me, can the Awards really inspire change among businesses in this climate of scepticism?” Perhaps the more important question moving forward is, "what can you do differently in the future to engender better trust?" he reflected. 

Setting the right tone from the top on trust is key. “We will continue talking to our own staff, important ambassadors of trust, because we know that in order to build trust externally, you need to have it right internally. And finally, we will continue our conversations with the young,” he shared, reflecting on PwC’s efforts to broaden the conversation on trust. 

Keynote speaker Yang Berbahagia Tan Sri Dr. Zeti Akhtar Aziz emphasised that "trust is particularly important when being confronted with a critical moment, when you are most vulnerable, with the prospect of devastation and destruction."

The Former Governor of the Central Bank of Malaysia and current Co-Chair Board of Governors, Asia School of Business, highlighted the growing trend of distrust in institutions, especially with the greater focus on rules and compliance, among today’s corporations, over building a culture of ethical values. 

"While rules are vital and important, it is the principles behind the rules that are fundamental,” she emphasised.

Sridharan (Sri) Nair, PwC Malaysia Managing Partner and Dato’ Mohammad Faiz Azmi, presented the awards to the winning companies and acknowledged the 20 Finalists as well as the companies receiving Special Mentions. The 20 Finalists are:

Dato' Faiz, Sir David and Sri presented the trophy to the
Building Trust Awards 2017 Winner - Sime Darby Berhad

Dato' Faiz, Sir David and Sri presented the trophy to the
Building Trust Awards 2017 Runner Up - Axiata Group Berhad

Dato' Faiz Azmi delivered the opening remarks
 

Joining Sri and Dato’ Mohammad Faiz Azmi on stage to recognise the winning companies, Special Mention recipients and Finalists were two of the Awards judges:

(i) Sir David Tweedie (Chairman, Board of Trustees, International Valuation Standards Council; Past Chairman, International Accounting Standards Board) (Awards Chief Judge);

(ii) Mr. Faris Hadad-Zervos (Country Manager and Head, World Bank Group Global Knowledge and Research Hub in Malaysia)

“Our journey to encourage Malaysian companies to put trust at the top of their agenda is something we can’t do alone. I would like to urge business leaders, influencers and the general public to join us in the dialogue on trust. Collectively, let’s rally for companies to put trust at the heart of business, as we look to create world-class, sustainable businesses and close the trust gap in Malaysia,” said Sri.

The Awards is part of PwC Malaysia’s Building Trust programme to encourage Corporate Malaysia to put trust-building at the top of the business agenda. 

[1] The Special Mentions are in recognition of the companies’ performance in the three elements of the Awards methodology.