A newly released report, Bursa Top 20: Who’s the Most Charitable?, reveals that Malaysia’s top publicly listed companies significantly increased their philanthropic efforts in 2023, with total donations nearly tripling from the previous year. The report highlights a surge in corporate giving, especially cash donations, with RM381.81 million contributed in 2023, compared to RM129.25 million in 2022.
Top Donors Lead the Charge in Corporate Giving
The report identifies Tenaga Nasional Berhad as the largest cash donor in 2023, contributing RM99 million, or 3.57% of its RM2.77 billion net profit. Following closely is Sime Darby Plantation Berhad, which donated RM56.75 million, or 2.87% of its RM1.98 billion net profit. Telekom Malaysia Berhad ranked third, donating RM38.35 million, or 2.05% of its RM1.87 billion net profit.
As a whole, the top 20 Bursa-listed companies raised their average cash-giving-to-net-profit ratio to 0.82%, up from 0.35% last year. This increase signals a growing commitment to corporate social responsibility and transparency in philanthropic efforts.
Gamuda and Malayan Banking Lead In-Kind Contributions
In addition to cash donations, the report highlights in-kind contributions, including products, food, and volunteer hours. Gamuda Berhad topped the list for in-kind giving, contributing RM82.89 million, equivalent to 4.51% of its net profit. Malayan Banking Berhad made notable strides with 227,102 volunteer hours logged—over 15 times more than last year.
Education and Environmental Causes Receive Strong Focus
The report shows that education remains a top priority for corporate donors, with 38.27% of the total giving directed towards educational initiatives. These contributions help fund training programmes, skills development, and educational infrastructure. Meanwhile, 17.25% of contributions were directed towards environmental causes, supporting sustainability efforts such as reforestation and conservation.
Challenges with Reporting and Transparency
Despite the positive growth in corporate giving, the report identifies ongoing challenges with consistency in reporting and transparency. Only eight companies included the Bursa ESG Reporting Performance Data Table Template in their annual reports, resulting in significant variation in how in-kind donations were documented. The report underscores the need for clearer guidelines and standardised reporting to foster greater transparency and accountability.
Corporate Giving as an Investment in the Future
Terence Ooi, Co-Founder of Wiki Impact, emphasised that corporate philanthropy should not be viewed merely as an obligation, but as a strategic investment in the future. “This report shows that corporate giving is gaining momentum and has the power to drive societal and environmental change. We hope this inspires more companies to enhance their commitment to responsible giving and transparency,” Ooi stated.
As corporate philanthropy continues to grow, companies are encouraged to integrate giving into their sustainability strategies, tackling Malaysia’s pressing challenges, including educational gaps, youth unemployment, and environmental issues.
