YBhg Dato’ Md Nor Yusof
Chairman, Securities Commission
Corporate Social Responsibility (CSR) Conference
“CSR: Creating Greater Competitive Advantage”
21-22 June 2004
Securities Commission, Kuala Lumpur
YAB Dato Seri Najib Tun Abdul Razak, Deputy Prime Minister of Malaysia,
His Excellency Mr Bruce Gleghorn, British High Commissioner to Malaysia,
distinguished guests and speakers, ladies and gentlemen.
A very good morning and welcome to the conference on Corporate Social Responsibility. This event is being organised in association with the British High Commission which is also a prime advocate and proponent of the concept of CSR. We also wish to acknowledge the sponsorship of BP and HSBC for this conference. Indeed the Securities Commission is privileged for this collaboration opportunity.
Ladies and gentlemen
Business corporations are a vital element of the social fabric today. Profit optimisation is no longer the main imperative for business sustainability. Outside stakeholders are taking an increasing interest in the activity of the company – what the company has actually done; good or bad, in terms of its products and services, in terms of its impact on the environment and on the local communities, in how it treats and develops its workforce. There is now a growing realisation among companies on the need to focus beyond compliance with laws to responding to interrelated economic, societal and environmental demands in the marketplace. Indeed over the next two days we will have the opportunity to obtain a good insight of the concept of corporate social responsibility and how it could in fact open up new opportunities for corporations to create greater competitive advantage. In this regard I would like to take this opportunity to express our appreciation to our distinguished speakers for sharing with us their expertise and experience on the subject of CSR.
Ladies and gentlemen
The promotion of good corporate conduct is central to the function of the Securities Commission. We believe it is an evolving challenge requiring continuous currency of approach and awareness. On that note may I on behalf of the organisers extend our thanks and appreciation to YAB Dato Seri Najib for his support and encouragement for this important conference. I join the rest of the audience in looking forward to hearing Dato Seri’s address in a while.