Corporate Social Responsibility in Malaysia: The Role of Corporate Sector in Supporting the Community and the Environment

Abdullah Sarwar, S.M. Ferdous Azam

Abstract


In this competitive era of global business entity, no company can ignore the public interest. Companies have to realize that in order for them to ensure continued existence, their practices will have to be altered in such a way that they not only focus on the conventional quest of profits but also take into account the social and environmental spectrum. Hence, our interest in this paper was to find out the business motivation behind engaging in CSR activities; the areas that CSR revolves around, whether, CSR is truly beneficial to both businesses that practice it and the community as a whole and how corporations in Malaysia view CSR. This study reveals that the Bursa Malaysia has set guidelines for Malaysian Public Listed Companies (PLC) to help them in the practice of CSR. However, companies should not take this as to improve their image, but an inherent and vital business practice that promotes ethical values, social responsibility, and awareness to environmental problems, social issues and so forth. Bursa Malaysia strongly urges Malaysian PLCs to adhere to CSR not because they are legally bounded to but because value the importance of CSR. Therefore, companies should practice CSR to assist the community in order to advance both economically and socially in the global economy.

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