The National Annual Corporate Report Awards (NACRA) 2022 has called for entries at the NACRA 2022 Virtual Launch. The closing date for registration and submission of entries is 31 May 2022.
Organised by Bursa Malaysia Berhad, Malaysian Institute of Accountants (MIA) and The Malaysian Institute of Certified Public Accountants (MICPA), NACRA deems it important for organisations to deliver high-quality corporate reports that tell their unique value creation stories in order to support investors in their actionability and decision-making.
NACRA guides organisations to balance the disclosure of financial and non-financial information to show how they stayed agile and resilient to continuously create long-term stakeholder value. “This is what the market and investors are seeking from today’s corporate reports. They expect a comprehensive yet concise, reliable, balanced, and comparable analysis that clarifies the enterprise’s strategic focus and future directions, to facilitate their decision-making processes,” said Ong Chee Wai, Chairman, NACRA 2022 Organising Committee in his welcome remarks.
As per past years, NACRA has assembled an independent panel of expert adjudicators who are well-versed with the latest issues and developments in business and markets, as well as corporate reporting and sustainability disclosures, commented Ahmad Zahirudin Abdul Rahim, Chairman, the NACRA 2022 Adjudication Committee in his remarks.
NACRA will assess companies’ annual reports against their peers within the same tier of market capitalisation. “There are three different tiers of market capitalisation and participants will be sub-divided into the appropriate tier based on their organisation’s market capitalisation,” added Ahmad Zahirudin.
To ensure that corporate reporting in Malaysia is up-to-date with the latest local and global developments, reporting frameworks and best practices, the NACRA framework and assessment criteria incorporates elements that, among others:
- Align with the latest Malaysian Code on Corporate Governance (MCCG), which was reviewed and updated in April 2021 to strengthen Board governance and integrate sustainability into business
- Emphasise on sustainability to encourage organisations to integrate ESG (environmental, social, governance) considerations into their business models and disclosures, including narratives on how they address climate change, net zero targets, labour rights violations and modern slavery, to name a few key emerging risks.
- Facilitate investor demands for greater accountability and transparency on how the COVID-19 pandemic which continues to be ranked as a significant risk affects businesses and their prospects.
All public-listed and non-public-listed organisations as well as other organisations established in Malaysia are cordially invited to participate in NACRA. All organisations will compete for Excellence Awards according to market capitalisation for listed companies, with a separate category for non-listed organisations. All participants are also eligible to compete for the Best Sustainability Reporting and Best Designed Annual Report. Those participants who submit the Bahasa Malaysia version of their annual report will be eligible to compete for the title of Best Annual Report in Bahasa Malaysia.
NACRA was first established in 1990 by Bursa Malaysia Berhad, Malaysian Institute of Accountants (MIA) and The Malaysian Institute of Certified Public Accountants (MICPA) to inspire high quality corporate reporting in line with its perennial theme of “Towards Accountability and Excellence”.