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September 2, 2014

Integrated reporting a “maiden effort” for Malaysian companies

By Testabc

Malaysian companies are considering using the framework of International Integrated Reporting Council’s (IIRC) to produce integrated reports.

Sime Darby, Malaysian multinational conglomerate employing more than 100,000 employees, has committed to adopting integrated reporting (<IR>) by 2016, becoming the first Malaysian company to do so, according to Malaysian prime minister Datuk Seri Mohd Najib Tun Razak.

A spokesperson for Sime Darby confirmed The Accountant that the company is working seriously on the <IR> initiative, although details about its first integrated report haven’t been released as yet.

According to the spokesperson the process is currently a "maiden effort" for the company.

It’s expected that Sime Darby will take a decision at its annual general meeting scheduled for 13 November.

"The [Malaysian] Securities Commission is working with professionals and the industry on the adoption of integrated reporting to help build a stronger culture of sustainability within the corporate sector," the Malaysian prime minister said in a statement.

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