KUALA LUMPUR – Urban property and construction firm Malaysian Resources Corporation Bhd (MRCB) has won the esteemed Gold Award at the 2022 Australasian Reporting Awards (ARA) ceremony held in Sydney, Australia, yesterday.
The firm’s latest achievement was for MRCB’s 2020 Integrated Annual Report and marks the fourth time that MRCB has been awarded the coveted Gold Award, consecutively since 2018.
Additionally, MRCB was also one of six finalists for the Best Resources and Production Industry Sector Award.
The ARA, currently in its 72nd year, was created to uphold and improve standards of reporting, with the Gold Award representing the highest standard of reporting and disclosure, based on global best practices and international benchmarks that focus on transparency and accountability.
Consistent with the Global Reporting Initiative (GRI) that promotes best practices in corporate governance and transparency, ARA seeks reports that; provide a balanced and reasonable picture of their economic, environmental, and social performance; facilitate comparability, benchmarking and assessment of performance; and address issues of concern to stakeholders.
The ARA adjudicating committee measures annual reports against the ARA criteria as a basis to determine the quality of reporting.
MRCB’s chief corporate officer Amarjit Chhina said winning this independent international award for the fourth time is a testament to the company’s efforts to communicate honestly and transparently with all its stakeholders.
“We view stakeholder engagement seriously, and the Integrated Annual Report is one of many tools we use to ensure we keep the public abreast of our performance and aspirations.
“We remain committed to upholding the highest standards of corporate governance and transparency, and setting high disclosure standards is fundamental to achieving this.”
Alongside MRCB, other leading organisations that clinched the prestigious Gold Award include the Audit Office of New South Wales, Judicial Commission of New South Wales, Victorian Electoral Commission, Senex Energy and CLP Holdings Ltd.
Established in 1950, the annual ARA is administered by the Australasian Reporting Awards Ltd, an independent not-for-profit organisation run by volunteer professionals from the business, government and not-for-profit sectors, with the support of professional bodies concerned with the quality of financial and business reporting.
The annual ARA is known for the high standard of its adjudication process, with awards submissions coming from Australia, New Zealand, Hong Kong, India, Indonesia, Malaysia, the Philippines, Qatar, Sri Lanka and Russia.
In addition to adding ARA’s Gold Award as another notch to its belt, MRCB also has under its belt governance-related awards including: 1st in Malaysia Institute of Corporate Governance (MICG)’s “Transparency in Corporate Reporting” ranking in 2019; the Asean Asset Class Award at the 2019 Asean Corporate Governance Assessment Scorecard Awards in 2020; and the Industry Excellence Award (Property Sector) for the 2020 Minority Shareholders Watchdog Group-Asean Corporate Governance Scorecard Assessment in 2021.
A Transport Oriented Development (TOD) specialist, MRCB is renowned for developing both KL Sentral and Penang Sentral, as well as constructing the Light Rail Transit (LRT) Line 3.
It also transformed the Bukit Jalil Sports Complex into what is today the KL Sports City and just recently received a Letter of Intent from the Selangor government to present options for a new lease of life for the 28-year-old Shah Alam Stadium.
MRCB’s largest shareholder is the Employees Provident Fund (EPF). – The Vibes, July 19, 2022
