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TITLE: Welcome Remarks by Mr Stanley Teo Swee Chua, Chairman, NACRA 2020 Organising Committee at National Annual Corporate Report Awards (NACRA) 2020 Launching Ceremony

DATE: 04/03/2020

WELCOME REMARKS BY

MR STANLEY TEO SWEE CHUA

CHAIRMAN
NACRA 2020 ORGANISING COMMITTEE

AT

NATIONAL ANNUAL CORPORATE REPORT AWARDS (NACRA) 2020 LAUNCHING CEREMONY

4 MARCH 2020 (WEDNESDAY), The Zenith, Connexion Conference & Event Centre (CCEC), Level M2, The Vertical, Bangsar South, Kuala Lumpur

  • Yang Berusaha En Ahmad Zahirudin Abdul Rahim, Chairman of the NACRA 2020 Adjudication Committee
  • Yang Berusaha Dr Nurmazilah Dato’ Mahzan, Chief Executive Officer, Malaysian Institute of Accountants
  • NACRA Committee Members
  • Distinguished guests
  • Members of the Media
  • Ladies and Gentlemen
  1. Good morning and welcome to the launch of NACRA 2020!
  2. On behalf of Bursa Malaysia Berhad, Malaysian Institute of Accountants (MIA) and The Malaysian Institute of Certified Public Accountants (MICPA) - the joint organisers for NACRA 2020, we thank you for being here today.
  3. Your collective presence strengthens our aim of promoting more effective communication of financial and non-financial information by organisations to their investors and stakeholders, in order to drive greater corporate governance, sustainability and trust.
  4. NACRA’s perennial theme, “Towards Accountability & Excellence”, underscores the vital role of annual reports in propagating transparency and enhancing the integrity of the capital market.
  5. Ladies and Gentlemen, NACRA aims to continually improve on the quality of annual reports to enhance disclosure, and we believe that new developments in reporting on both financial and non-financial measures can be a highly useful tool for companies - to better align their decisions and actions with their strategy while standing up to increasing investor scrutiny and expectations for better sustainability. 
  6. This year, thirty years after the National Annual Corporate Reporting Awards (NACRA) were first established, we the organisers are delighted to announce the new framework for NACRA 2020 - in response to a vastly transformed corporate and regulatory landscape as well as increasing investor demands for both financial and non-financial information.
  7. While we remain committed to upholding our vision of promoting excellence and accountability in corporate reporting, NACRA 2020 introduces a brand-new awards structure and assessment criteria that enlarges recognition to many more leading organisations and is aligned with global reporting frameworks and best practices.
  8. A key change to the New NACRA awards structure is that all organisations will compete for Excellence Awards according to market capitalisation for listed companies, with a separate category for non-listed organisations. To enhance transparency, this year we also reveal the marking criteria weightage for the Excellence Awards, as a guide for better reporting.
  9. Given the increasing global relevance and acceptance of integrated reporting <IR> and sustainability, the NACRA assessment criteria have been realigned with <IR> and sustainability elements and emphasises the importance of non-financial information, forward-looking statements and sustainability information to communicate organisations’ value creation narratives over time. Responding to the growing global emphasis on sustainability and impact reporting on ESG (environmental, societal and governance) impacts, NACRA continues to offer an Award for Best Sustainability Reporting.
  10. Ladies and gentlemen, my colleague Ahmad Zahirudin who chairs the Adjudication Committee will explain more about New NACRA framework and the adjudication process and there will be a presentation subsequently for more clarity.
  11. We hope that the NACRA structure and assessment criteria will further drive the quality of disclosure in order to improve the information made available to investors, while embedding a culture of sustainability among organisations in Malaysia.
  12. All public listed and non-public listed organisations as well as other organisations established in Malaysia are cordially invited to participate in NACRA. The closing date for registration and submission of entries is 29 May 2020.
  13. We hope to see more organisations participating this year in NACRA 2020, and look forward to receiving your timely submissions. See you again at the NACRA Awards Presentation Dinner.
  14. Thank you!