NEWS

 

TITLE: Speech by En Ahmad Zahirudin Abdul Rahim, Chairman, NACRA 2020 Adjudication Committee at National Annual Corporate Report Awards (NACRA) 2020, Virtual Announcement of Winners

DATE: 22/12/2020

SPEECH BY

EN AHMAD ZAHIRUDIN ABDUL RAHIM

CHAIRMAN

NACRA 2020 ADJUDICATION COMMITTEE

AT

NATIONAL ANNUAL CORPORATE REPORT AWARDS (NACRA) 2020 VIRTUAL ANNOUNCEMENT OF WINNERS

THEME: TOWARDS ACCOUNTABILITY & EXCELLENCE

22 December2020 (Tuesday)

  • Yang Berbahagia Tan Sri Abdul Wahid Omar, Chairman, Bursa Malaysia
  • Dr Veerinderjeet Singh, President of the Malaysian Institute of Accountants (MIA) and The Malaysian Institute of Certified Public Accountants (MICPA)
  • Mr Stanley Teo, Chairman, NACRA 2020 Organising Committee
  • NACRA Participants, Committee Members and Adjudicators
  • Distinguished Guests
  • Members of the Media
  • Ladies and Gentlemen
  1. On behalf of the NACRA Adjudication Committee, welcome to the NACRA 2020 virtual announcement of winners.
  2. As Stanley said earlier in his remarks, NACRA introduced a new framework for 2020. This is the first year that we are awarding winners under the new NACRA framework.
  3. As highlighted in the NACRA 2020 Launch, there are several salient changes in the new NACRA framework as compared to the previous years.
  4. One, beginning with NACRA 2020 onwards, we have streamlined the adjudication process from two stages to just one.
  5. Two, annual reports are assessed according to market capitalisation (instead of industry) for listed companies, with a separate category for non-listed organisations. As such, companies’ annual reports are assessed against their peers within the same tier of market capitalisation. Beginning with the NACRA 2020 awards cycle, companies competing for the Excellence Awards will be subdivided according to different tiers of market capitalisation.
  6. Notwithstanding the changes to the framework, we noted an overall high standard of presentation of annual reports among the entries, in this year’s adjudication process. Notably, there were some strong contenders from new entries as well.
  7. The Committee and the panel of adjudicators had a challenging task in selecting the winners, as they were of a very high quality. The Committee would like to commend these companies on their continuing efforts in improving their annual report disclosures and presentations, more so in view of the unique challenges that we are facing this year, as mentioned by Stanley earlier.
  8. Ladies and gentlemen, winning a NACRA award accentuates an organisation’s corporate standing among other organisations and contributes to the strength of its brand. It presents a golden opportunity to communicate with stakeholders, build trust and attract capital. NACRA recognises your organisation’s reporting competency and rewards your commitment to excellent corporate reporting and transparency.
  9. Today, a total of 32 award winners will be announced for the following categories:
    • The Excellence Awards for different tiers of market capitalisation, comprising:
      • Companies with more than RM10 billion in market capitalisation;
      • Companies with RM2 billion to RM10 billion in market capitalisation;
      • Companies with less than RM2 billion in market capitalisation; and
      • Non-Listed Organisations.
    • The Special Awards, comprising:
      • Best Sustainability Reporting Awards;
      • Best Annual Report in Bahasa Malaysia; and
      • Best Designed Annual Report.
  10. Without further ado, Ladies & Gentlemen, let’s proceed with the announcement of the winners of NACRA 2020. Congratulations to the all the winners!