Donâ€™t stop corporate responsibilitiy initiatives, says SC

PETALING JAYA: Companies should continue with their corporate responsibility (CR) initiatives even during times of crises, said Securities Commission (SC) chairman Datuk Seri Zarinah Anwar. â€œCrises put pressure on companiesâ€™ profitability. In efforts to ensure companiesâ€™ survival, they may reduce expenditure on CR,â€ she said after launching the Rising to the Challenge coffee-table book at Menara Star yesterday. â€œHowever, I feel that CR is not about cheques and sponsorships although it is important. It is about doing the right things,â€ she added. Zarinah said different companies practised CR for different reasons but they must ensure ethical standards. â€œThis has to be the underlying reason why CR is very important to them. The branding and the reputation will come after that,â€ she said. She noted that some Malaysian firms practised a very high-quality CR programme, equivalent to international standards, and hoped others would emulate them. â€œThat is why (this) initiative by StarBiz and ICR Malaysia is very important,â€ she said. The coffee-table book commemorated the StarBiz-ICR Malaysia Corporate Responsibility Awards 2008, which was supported by SC and Bursa Malaysia Bhd. The working partners for this initiative were Association of Chartered Certificate Accountants, PriceWaterhouseCoopers and Securities Industry Development Corp. The sponsors were Westports Malaysia Sdn Bhd, Ricoh (M) Sdn Bhd and HSBC Bank (M) Bhd. Priced at RM150, the 120-page book is available online at www.thestar.com.my and via mail order.

"Loved reading this piece by Abhishek?
Join LAWyersClubIndia's network for daily News Updates, Judgment Summaries, Articles, Forum Threads, Online Law Courses, and MUCH MORE!!"

Join our Telegram group

Join our Whatsapp group