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KUCHING, June 22: Petronas Dagangan Berhad and Bintulu Port Holdings Berhad were among 12 Malaysian companies to win global recognition at the Australasian Reporting Awards (ARA) 2023 held in Sydney, Australia on June 15.
According to a media release, Malaysia had a strong presence at ARA 2023, with all 20 Malaysian entrants receiving ARA awards for Excellence in Reporting.
Among them, 12 received a Gold Award, six received a Silver Award and two received a Bronze Award.
Petronas Dagangan Berhad not only received a Gold Award, but also won the Special Award for Governance Reporting in the Private Sector. Additionally, they were a finalist for the Special Award for Integrated Reporting.
The other Malaysian organisations that achieved a Gold Award included Axiata Group Berhad Malayan Banking Berhad, Malaysian Resources Corporation Berhad, Petronas Chemicals Group Berhad, Puncak Niaga Holdings Berhad, Sunway REIT, Telekom Malaysia Berhad, Tenaga Nasional Berhad and UMW Holdings Berhad.
The ARA is not a competition but rather a benchmarking process through which organisations can assess their reports against the ARA world best-practice criteria and compare with their peers.
A report must fully satisfy criteria and serve as a model report for other organisations to receive a Gold Award. Reports that satisfy most of the criteria at different levels are eligible for Silver or Bronze Awards.
One of the most valuable aspects of the ARA process is the opportunity for entrants to receive feedback from senior ARA adjudicators. This feedback helps identify any shortcomings in their report and provides constructive advice and guidance on how to address them in future reports.
The ARA, a not-for-profit activity, has been running successfully for 73 years, which reflects the high value placed on the awards process by participating organisations.
The increasing number of entries from neighbouring Asia-Pacific countries such as Hong Kong, Indonesia, and Malaysia further highlights the strong appreciation for the educative value and prestige of the Australasian Reporting Awards process, according to the media release. — DayakDaily
