KUALA LUMPUR, Nov 12: CIMB Group Holdings Berhad (‘CIMB Group’ or ‘the Group’) yesterday reaffirmed its commitment to corporate social responsibility (CSR) by announcing that one per cent of the Group’s profit before tax (PBT) will be channelled to CIMB Foundation for CSR initiatives across ASEAN for 2018-2020.
According to a press statement, the announcement was made by the Group’s chairman Dato’ Sri Nazir Razak during the commemoration of CIMB Foundation’s 10th Year Anniversary, which was also graced by CIMB Foundation chairman Tan Sri Md Nor Md Yusof, CIMB Group CEO Tengku Dato’ Sri Zafrul Aziz, CIMB Foundation’s Board of Trustees, as well as CIMB Foundation CEO Dato’ Hamidah Naziadin.
The one per cent PBT pledge will be disbursed annually for the period 2018-2020 across CIMB’s operations in ASEAN. The funds will be channelled towards enhancing and replicating successful projects through the foundation’s three core pillars — community development, sports and education — with the aim of empowering larger communities and changing more lives across the region.
Nazir commented: “CIMB believes that corporates should commit more to CSR, especially in this age of rising inequality and uncertain, disruptive change. Our commitment to spend annually one per cent of the Group’s PBT in the preceding year will triple CIMB’s annual financial spend on CSR over the next three years, estimated to be about RM65-RM75 million annually.
“I’m happy to note that CIMB Foundation is also introducing ‘Diversity and Inclusion’ as the guiding principle for all its activities, to promote better communal relations, diversity and inclusion, and nurture cross-cultural understanding among beneficiaries.”
Recently, CIMB Group also introduced a HR policy that allows staff to take up to one-month paid leave to work on CIMB Foundation’s CSR activities, based on the experience that staff commitment and energy can more than double the impact of every dollar spent.
The additional allocation will also enable CIMB Foundation to launch its financial literacy programme for youth called Be$MART in Indonesia, Thailand and Cambodia in 2018. Its community development and education pillars will not only be expanded in Malaysia, but also replicated in other ASEAN countries where CIMB operates.
The commemoration of CIMB Foundation’s 10th anniversary comprised a three-day event from Nov 10–12 at the Curve in Mutiara Damansara. It featured fun, exciting activities and was supported by its beneficiaries, who showcased their unique skills and talents. Around 10,000 members of the public joined the three-day celebration, got to know the beneficiaries and even enjoyed up-close and personal sessions with Datuk Nicol David, CIMB’s brand ambassador, and other top Malaysian athletes and celebrities.
Since its establishment inception in November 2007, the foundation has disbursed RM120 million through 962 initiatives benefiting 700,000 lives. — Bernama