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 on 30 November 2023. 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.