Paramount Property chief executive officer Chee Siew Pin (second from left) receiving the trophy from Deputy Local Government Development Minister Akmal Nasrullah as Star Media Group chief executive officer Alex Yeow (right) and FIABCI-Malaysia president Firdaus Musa (left) look on.

Elevating brand loyalty and sales for businesses 

Trust is the cornerstone of a strong relationship between a company and its investors, customers, partners and employees. This trust is nurtured through the company's commitment to transparency in its business operations. Transparency involves a candid and straightforward approach when addressing business-related matters with stakeholders.

The primary aim of transparency in business is to cultivate trust and goodwill by establishing and upholding a reputation for openness and integrity in all interactions. The manifestation of transparency can vary, adapting to the specific communication channels and the diverse groups of stakeholders involved.

Although different stakeholder groups may respond uniquely to transparency efforts, the fundamental outcome remains consistent across investors, shareholders, buyers and employees. For investors and stakeholders, transparency equates to the accessibility of critical financial information, including a company's financial reports and price range. It is imperative that investors can trust the accuracy, relevance and independent auditing of the financial data your company provides.

From the perspective of buyers, transparency assures them that the companies they engage with, especially in real estate purchases, prioritize openness. This assurance directly enhances their confidence in the development and can lead to heightened brand loyalty and increased sales when executed effectively.

Lastly, transparency within the employee realm hinges on a foundation of honesty and robust two-way communication between employees and their managers. This encompasses candid dialogues about business objectives, challenges, individual performance and other work-centric matters.

In essence, transparency serves as the conduit to building profound trust. By nurturing transparency across all interactions, businesses can fortify relationships, inspire loyalty and bolster their market standing.

TOTC quantitative rankings - Transparency 

The transparency attribute is based on the company’s willingness to reveal information about itself in the latest annual report. Transparency in the MDA judging criteria is centred on information disclosure, accountability and clarity. The breakdown of scores is as follows:

• Transparency pledge (20%)
• Precise remuneration of directors (20%)
• Time taken to file annual financial results (10%)
• Dividend policy statement (10%)
• Shareholders meeting procedures and minutes (10%)
• Responsibilities to stakeholders, including donors, sponsors, programme beneficiaries, staff and the public (10%)
• Whistle-blower policy (10%)
• Limiting the usage of technical terminology, fine print or complicated mathematical notations (10%)

In the RM1bil and above category, Matrix Concepts Holdings Bhd (Matrix Concepts) and Malaysian Resources Corporation Bhd (MRCB) tied with the highest score of 86%. This achievement puts Matrix Concepts and MRCB in the joint top spot for this attribute. Of the top 10 rankers in the TOTC RM1bil and above category, OSK Holdings Bhd (with 83%) was the only other company that scored above the 80% mark.

In the TOTC below RM1bil category, Paramount Corporation Bhd was again the highest achiever at 89%. It was the only company to achieve the above 80% mark. This places them in the top spot for this attribute, retaining their first place for the second year running. 

MRCB group chief operating officer Kwan Joon Hoe is all cheers with the trophy.

Ranking by transparency

Ranking by transparency

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