KUALA LUMPUR: Sime Darby Bhd distinguished itself again as the biggest cash giver among the top 20 most charitable companies on Bursa Malaysia Bhd, according to a report by Wiki Impact.
Collectively, the Bursa Top 20 companies donated a total of RM129.25 million in cash during the year 2022, as per publicly available data.
Notably, this figure represents a decrease compared to the previous year's total of RM159.69 million, reflecting evolving corporate giving patterns. The average cash-to-net-profit ratio for all 20 companies currently stands at 0.26 per cent, showing a slight decrease from the 2021 average of 0.29 per cent.
The report stated that RM20 million of Sime Darby's RM1.10 billion net profit, a cash-to-profit giving ratio of 1.81 per cent, went to charity and other social and environmental initiatives.
"This is higher than their 2021 cash giving amounting to 1.40 per cent," it said.
Produced by Wiki Impact, the 'Bursa Top 20: Who's The Most Charitable (2023)' report charts the trends and practices of corporate giving based on sustainability and annual reports as published by the respective companies.
Wiki Impact co-founder Terence Ooi said the report sets a baseline and paints a vision for othercompanies to follow or surpass in their giving.
Ooi said customers and stakeholders are also increasingly looking for brands that align with their values and serve a bigger cause, aside from profits.
"This evidence-based reporting not only paints a picture of corporate giving in Malaysia but also presents an opportunity to spark conversations in boardrooms on the need andsignificance for profit-making companies to contribute in cash and in-kind - and betransparent about how they are making a difference," he said.
Meanwhile, Telekom Malaysia Bhd secured the second position among cash contributors, with a cash-to-profit giving ratio of 0.80 per cent.
The company allocated RM8.1 million of its RM1.01 billion net profit to charitable endeavours.
In 2021, its cash giving was at 0.5 per cent.
CIMB Group Holding Bhd came in next with a cash-to-profit ratio of 0.63 per cent, contributing over RM39.57 million in cash donations of their RM5.44 billion net profit.
This is an increase from 0.19 per cent in 2021.
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