It is interesting to note that during a recent seminar on Corporate social responsibility, much have been emphasized in terms of the social responsibility of listed companies or companies that would want to do business with the government.

Some details from The Star & Business Times (28/7/06)
At the seminar on Making a difference through CSR-Meeting the challenges which was organized by the SC and the United Nations Development Programme (UNDP), append below what’s being transpired from the eminent speakers on CSR and prominent participants:
From SC chairman Datuk Zarinah Anwar::

• Corporate Social Responsibility (CSR) is not about building schools or giving out scholarships but is a part of doing business that companies should not regard as being an obligation;
• Companies must realise that CSR is a good business proposition because they would have better reputation, brand value, sales and customer loyalty; 
• The SC viewed CSR as an extension of its efforts in fostering a strong corporate governance culture;
• Ultimately, both corporate governance and CSR are about ensuring the sustainability of business via good business practices as both influence corporate strategy and draw on the same elements of accountability, honesty, transparency and sustainability;
• Corporate governance focuses primarily on the interest of the company’s shareholders whereas CSR focuses on the interest of the company’s wider stakeholders. 
• the symbiotic relationship between corporate governance and CSR creates a corporate conscience towards which the company steers its objectives and sets its priorities;
• she hoped to see the process of launching the CSR index, an initiative by the University of Nottingham expedited. as there is now a need to benchmark a standard to which companies can aspire to achieve.  
• Furthermore, it also would provide investors seeking socially responsible investments with a choice and assist them in making informed decisions;
• SC also supports the setting up of a CSR Institute in Malaysia to encourage better CSR practices in business. 

From a Minister in the Prime Minister’s Department Datuk Sri Mohd Effendi who highlighted the importance of Corporate Social Responsibility in securing government’s contracts.

• THE Government may consider a company’s good deeds to society, otherwise known as Corporate Social Responsibility (CSR) when it gives out contracts;
• Given that everything is equal among those bidding for the projects, what could tip the balance may be their involvement in CSR;
• CSR is something that the government would want to promote as a country and we want to see the private sector doing it;
• There are a lot of opportunities for the corporate sector to support the Government in various areas under the Ninth Malaysia Plan, such as education, healthcare and environment
• For example, the companies can adopt some rural schools that are lacking certain basic amenities;
• He will discuss with the Cabinet before coming out with a potential projects list for firms to consider.
• Government-linked corporations are expected to drive the development of CSR in the country and
• The Government will soon launch the Silver Book - a guide on how companies could ensure business sustainability through good practices - as part of the GLC transformation programme.

From UNDP resident representative for Malaysia, Singapore and Brunei, Dr Richard Leete,

• Consumer perceptions of companies were today determined as much by their social and environmental practices as by their product branding.  

• There is increased sensitivity over how companies produce their goods and services, as well as on environment issues.

Several listed companies shared their CSR experience and participants were also told it was important that companies engaged in CSR activities did not overlook the needs of their own employees.
Nestle Bhd executive director (finance and control) Stephane Alby said:

• CSR was part of Nestle’s “DNA” to create long-term value for society and was built into its corporate business principles and strategy. 

 

DiGi Telecommunications Sdn Bhd, human resources head Adzhar Ibrahim:

• which through its CSR efforts is helping to preserve Malaysia’s heritage by involving youth and children living mainly in rural areas, said it had also improved the working conditions for its employees;
• all the company’s workers and their families were entitled to medical care and female employees were given an additional 60 days of maternity leave at half pay. Nursing and de-stress rooms are also made available at the company’s premises.