The 34th National Annual Corporate Report Awards (NACRA) presentation dinner celebrated a total of 33 winners out of 49 participating organisations. Jointly organised by Bursa Malaysia Berhad, Malaysian Institute of Accountants (MIA) and The Malaysian Institute of Certified Public Accountants (MICPA), the prestigious NACRA awards are conferred on organisations that demonstrate excellence in their corporate reporting encompassing both financial and non-financial information.
Amidst stiff competition, Malayan Banking Berhad (Maybank) emerged as the Platinum winner for excellence in corporate reporting in the category of companies with more than RM10 billion in market capitalisation. Sunway Berhad, Kumpulan Perangsang Selangor Berhad and Johor Plantations Group Berhad also won Platinum awards for excellence in corporate reporting in their respective categories. In the special awards categories, RHB Bank Berhad won the Platinum Award for Best Sustainability Reporting, Maybank won Platinum for Best Designed Annual Report and MSM Malaysia Holdings Berhad won Platinum for Best Annual Report in Bahasa Malaysia.
In his welcome remarks, NACRA 2024 Organising Committee Chairman Mr Ong Chee Wai underscored the vital role that annual reports play in propagating transparency and enhancing integrity within the capital markets. “Even with many avenues of information available today, an annual report remains a powerful tool to concisely communicate a company’s strengths and strategies to key stakeholders,” he said.
To ensure that annual reports are relevant to business and the investment community, NACRA continuously reviews and enhances its guidelines and criteria in order to meet stakeholders’ expectations for increased voluntary reporting and to harmonise with global and local developments in integrated reporting and sustainability reporting. “Companies are encouraged to report information that goes beyond the traditional and historical financial information, providing additional voluntary disclosures instead of simply fulfilling minimal mandatory disclosure requirements,” said Mr. Ong.
In his keynote address, guest of honour Yang Berhormat Senator Datuk Seri Amir Hamzah Azizan, Minister of Finance II said that “Corporate reporting is more than a business exercise—it is a powerful tool for nation-building. As we work towards Ekonomi MADANI, businesses must play an active role in driving competitiveness, innovation, and inclusivity. By raising standards in corporate reporting, you contribute to a business environment that attracts investment, creates high-value jobs, and drives sustainable growth.”
The Minister commended NACRA for its focus on sustainability reporting, which enables the national sustainability agenda. “The adoption of sustainability reporting in Malaysia aligns well with the increased global relevance and acceptance of sustainability reporting, and will ensure that companies and businesses remain relevant and create value in the long run,” said Datuk Seri Amir Hamzah.
To achieve national decarbonisation targets, Malaysia is projected to require RM1.3 trillion by 2050 to meet its energy transition goals, including investments in renewable energy, energy efficiency, and green mobility. “High-quality verified data and reporting on sustainability will be necessary to secure the green funding and investment to achieve the country’s climate vision,” the Minister explained.
To drive sustainability reporting adoption, the Minister shared that listed issuers on Bursa Malaysia will be required to comply with the National Sustainability Reporting Framework (NSRF) effective from 2025, with the initial phase of NSRF implementation involving companies listed on Bursa Malaysia’s main market with a capitalisation of RM2 billion and above. Other companies listed on the main market will follow suit in 2026, with ACE Market issuers and large non-listed firms adopting the standards by 2027.
Designed to address climate change while ensuring global harmonisation and Malaysia’s continuing relevance to the global investment community, the NSRF which was developed by the Advisory Committee on Sustainability Reporting (ACSR) is aligned with the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards set by the International Sustainability Standards Board (ISSB).
In his overview of the NACRA entries, Mr Tang Seng Choon, Chairman of the NACRA 2024 Adjudication Committee noted that participating organisations demonstrated improved quality in financial and non-financial reporting as well as sustainability reporting. Overall, the adjudicators observed “outstanding quality in corporate reporting among participating organisations with a number of them scoring distinctions.”
To further improve corporate reporting in future, Mr. Tang encouraged preparers to focus on enhancing connectivity and integration between financial and non-financial disclosures. While many organisations obtained good scores in the preparation of their financial statements and demonstrated remarkable growth in the preparation of non-financial information, the overall ratings were affected due to the lack of connectivity between the financial and non-financial information, he highlighted.
In his remarks, Mr. Tang also elaborated on changes to the assessment criteria in the NACRA Sustainability Reporting Award category, with reference to Bursa Malaysia’s enhanced Sustainability Reporting Framework. Applauding all the participating organisations that have embarked on sustainability reporting, he shared that “NACRA 2024 recorded a remarkable upsurge in the quality of sustainability reporting.”
NACRA is open to all companies incorporated or registered in Malaysia as well as the public sector and other organisations established in Malaysia.
