WIKI IMPACT: BURSA'S TOP 20 COMPANIES DONATED RM381.81 MLN IN 2023

KUALA LUMPUR, Nov 13 (Bernama) -- The top 20 Bursa Malaysia companies donated RM381.81 million in cash in 2023, according to Wiki Impact’s “Bursa Top 20: Who’s The Most Charitable?” report.

In a statement today, Wiki Impact, which is an online platform dedicated to the impact industry, said that Tenaga Nasional Bhd, Sime Darby Plantation Bhd and Telekom Malaysia Bhd were among the top givers in 2023.

The report said that substantial growth in corporate contributions, particularly cash donations, with these companies collectively donating RM381.81 million in 2023, nearly tripling 2022’s total of RM129.25 million.

“This reflects growth in corporate philanthropy and reporting transparency. The average cash-giving-to-net profit ratio rose to 0.82 per cent, up from last year’s figure of 0.35 per cent,” it said.

Wiki Impact reported that Tenaga Nasional, who leads as the top cash donor, with a cash-to-profit giving ratio of 3.57 per cent as compared to last year at 3.22 per cent.

The company contributed RM99 million of its RM2.77 billion net profit to various charitable and social causes.

“Sime Darby Plantation, which ranked second, achieved a cash-to-profit giving ratio of 2.87 per cent by donating RM56.75 million from its RM1.98 billion net profit.

“The third-placed Telekom Malaysia, with a 2.05 per cent cash-to-profit ratio, contributed RM38.35 million from its RM1.87 billion net profit to charitable causes,” it noted.

The report highlighted that education continues to be a leading focus among corporate causes, with 38.27 per cent of total corporate contributions from the top 20 companies going towards educational initiatives.

These funds support training programmes, skill development, and educational facilities.

Environmental causes also saw significant support, receiving 17.25 per cent of corporate contributions, with companies investing in sustainability efforts like reforestation and conservation projects.

Wiki Impact added that despite these gains, the report identified an ongoing challenge with consistency in reporting and transparency.

Only eight companies incorporated the Bursa Environmental, Social and Governance (ESG) Reporting Performance Data Table Template in their 2023 annual reports, leading to significant variations in how donations— particularly in-kind contributions — are reported.

Meanwhile, Wiki Impact co-founder Terence Ooi said profit-making companies must recognise corporate philanthropy not just as an obligation, but as an investment in the future and a responsibility for those who have the means.

“While this report highlights that corporate philanthropy is gaining momentum and emerging as a powerful driver of societal and environmental change, we hope it will inspire more companies to strengthen their commitment to responsible giving and transparency.

“It is essential in tackling Malaysia’s pressing issues such as educational gaps, youth unemployment, and environmental challenges where government and non-profit resources often fall short,” he added.

-- BERNAMA