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BURSA MALAYSIA: CSR KEY TO BUSINESS SUSTAINABILITY
BackSep 05, 2006
5 September 2006
BURSA MALAYSIA: CSR KEY TO BUSINESS SUSTAINABILITY
Bursa Malaysia Berhad today urged public-listed companies (PLCs) to integrate corporate social responsibility (CSR) elements into their strategic business management practices. The statement was made by Bursa Malaysia Berhad's Chief Executive Officer, Yusli Mohamed Yusoff in conjunction with the launch of Bursa Malaysia's CSR Framework for PLCs by Minister of Finance II, Yang Berhormat Tan Sri Nor Mohamed Yakcop.
The new Bursa Malaysia CSR Framework for PLCs is a set of voluntary, flexible guidelines that outline key focal areas and CSR initiatives covering the environment, community, workplace and marketplace.
Bursa Malaysia Berhad's Chief Executive Officer, Yusli Mohamed Yusoff said, "Stakeholders are increasingly expecting companies to have good CSR practices beyond community service alone. CSR is a comprehensive approach to business practices based on ethical values and complements the exchange's push to improve the quality of PLCs in Malaysia.
He added, "Malaysian companies must realise that CSR is fast becoming a required criterion for guiding investors' decisions globally. CSR builds real business value. It increases profitability, enhances a company's reputation and can often be a driver for innovation and learning. In addition, it also opens up new avenues for access to capital and increased share value via a growing number of global Socially Responsible Investment (SRI) Funds and SRI Indices."
Said Yusli, "It is important for companies to understand that no one-size-fits-all when it comes to CSR. The framework is purely a guide that we encourage companies to voluntarily use in creating their own CSR Vision Statement, identifying CSR priorities and developing a CSR agenda for their corporations".
"In addition, our framework can also be used to assist companies in writing their CSR statements for their annual reports or any other form of corporate disclosure. This is in line with the Prime Minister's recent call in the Budget 2007 for companies to disclose their CSR initiatives."
Bursa Malaysia also announced its intent to define its own CSR agenda following the launch of the new framework.
Yusli commented, "We recognise that Bursa Malaysia has an important role to play in providing a model for other PLCs to follow. We are currently developing our own CSR Vision based on the four focal areas identified in the framework. Once completed, our CSR Vision Statement will be published on our website."
For those interested in knowing more about Bursa Malaysia CSR Framework, please visit our website at www.bursamalaysia.com for further details.