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Malaysian stock exchange promotes CSR

May 2008

Public limited companies have been urged by the Bursa Malaysia stock exchange to improve their CSR practices and integrate them into mainstream activities. This, says Bursa Malaysia, would show them the sustainable value that CSR would bring to business.
   
A survey commissioned by the stock exchange concluded that, with a few positive exceptions, Malaysian plcs need to improve their business responsibility disclosure and to understand the subject better.
   
The survey, conducted by CSR Asia and covering 200 listed companies, said only 32.5 per cent were in the above average, good or leading categories. The two areas needing most attention were environmental responsibility and diversity.
   
Dato’ Yusli Mohamed Yusoff, the stock exchange chief executive, said: ‘Good CSR practices promote business sustainability and add value to our capital markets as well as the standing of our companies.

‘It is crucial that plcs have a mindset shift in adopting CSR. They must understand that CSR practices must be manifested in their business practices and are not merely an add-on list of activities. In the long term, when companies understand and implement comprehensive CSR practices, it will have a profound effect on corporate performance and at the same time make a positive impact on the society and environment.

‘Globally, investors who lean towards ethical and socially responsible investing are increasingly favouring companies which incorporate environmental, social and governance criteria into their business practices, which is the essence of CSR.’




BBMG1

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