Deloitte announces winners of the inaugural Malaysia’s Best Managed Companies awards program

KUALA LUMPUR, 26 August 2021 – Today, four private enterprises* were recognised as the inaugural winners of Malaysia’s Best Managed Companies awards program at an awards ceremony.

An initiative by Deloitte Private, the Malaysia Best Managed Companies awards program recognises top privately-owned local companies with annual revenues exceeding USD25 million for their organisational excellence as well as contributions in their respective industries and the economy.

This program is part of Deloitte’s global Best Managed Companies awards. It applies a proven evaluation process to assess the businesses’ quality of management in areas including strategy, capabilities and innovation, culture and commitment, as well as governance and financials. The evaluation of the awards is based on more than 25 years of observed practice in 37 countries worldwide.

Yee Wing Peng, Chief Executive Officer, Deloitte Malaysia, said: “These companies’ resilience and sustained commitment to their purpose, despite navigating an extraordinary year, has been truly remarkable! The Best Managed Companies awards provide an opportunity to celebrate these outstanding local household brands, who demonstrated the importance of strong leadership, innovation, and agility. To all the winners, congratulations! You have so much to be proud of and we look forward to celebrating your continued commitment to your people, your customers, and our nation in the years to come.”

Some emerging trends among winners include an increased focus on leadership, diversity and inclusion, digital transformation to enable efficiencies, and for many companies – a growing contribution towards community service.

Chee Pei Pei, Deloitte Private leader, Malaysia, said: “These businesses are led by visionary and innovative management teams. We were impressed by the companies’ willingness to have conversations about their strengths and discuss market opportunities within their industries. It’s wonderful to be able to recognise their contribution to the Malaysian economy. We are hopeful that through this win, they will be role models spurring other private companies to scale greater heights, towards nation building.”

An independent judging panel comprising business and academia representatives determined the winners based on the leading practices of Best Managed Companies. This year’s jury members consisted of Professor Datuk Dr. Asma Ismail, Ibn Sina Chair for Medicine, International Islamic University Malaysia; Datuk Seri Dr. Michael Yam, Chairman, InvestKL Corporation; and Jordy Cao, General Manager, Alibaba Cloud Malaysia.

“The Malaysia Best Managed winners had what I call the W.O.W. factor (Worldclass – Outstanding qualities – Winning products). I hope the winners will continue to go beyond great, and make Malaysians proud,” said Professor Datuk Dr. Asma Ismail, Ibn Sina Chair for Medicine, International Islamic University Malaysia.

“This competition is a much-needed tonic and stimulant for Malaysian corporates aspiring to be the best in class. The criteria and value proposition of Best Managed are holistic and robust, serving as an excellent template for companies to future-proof themselves,” said Datuk Seri Dr. Michael Yam, Chairman, InvestKL Corporation.

“Digital transformation is key to business sustainability. Best Managed winners constantly evolved and continued to drive the culture of innovation, preparing them to anticipate business disruptions, and enabling them to stay competitive in the global arena,” commented Jordy Cao, General Manager, Alibaba Cloud Malaysia.

Companies eligible for this award were shortlisted and underwent a rigorous and independent process. This included having their business strategy and operations analysed, benchmarking them against a global standard evaluation framework, that is applied across the 1,000-strong community of best managed private companies worldwide. Business leaders then use the process to sharpen strategies and derive valuable insights to help them set projections to optimise business growth.

The Best Managed Companies winners are encouraged to re-join the program every year to continuously challenge, improve, and grow their company to retain their Best Managed Companies status.

Winners will join the Best Managed community comprising 1,000 companies who have achieved this mark of business excellence. Being a part of this elite group elevates their brand, increases market visibility and credibility in the industry. Winners are invited to attend the annual regional Best Managed Companies symposium and networking events.

*Note to Editors:  Although the winners are listed companies, the term ‘private enterprise’ is used because the majority share of the company is still held privately either directly or indirectly. This is how we qualify a company’s eligibility for Deloitte’s Best Managed Companies program.

About Malaysia’s Best Managed Companies program
(an initiative of Deloitte Private)

The Best Managed Companies program, an initiative of Deloitte Private, is an awards program recognising privately held companies for their organisational success and achievement. The program provides a distinct framework for management teams to challenge themselves and benchmark against some of the best private companies in the world.

The Best Managed Companies program was established in 1993 in Canada and has become the most significant business awards of its kind. The program is currently active in the Americas, Europe, Australia, China, Taiwan, India and in Southeast Asia.

For more information on the Best Managed Companies program, click here.

About Deloitte Private

Deloitte Private is focused on serving private clients to address the opportunities and challenges unique to their private businesses. Our tailored services include audit & assurance, consulting, financial and risk advisory, family enterprise consulting, tax advisory on wealth succession.

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