PETALING JAYA: The popular perception is that big corporations, including those linked to the government, cannot be trusted.
This has just been debunked.
In a recently-concluded survey by global market services and consulting company Ipsos Malaysia, government-linked companies (GLC) and regulators rank high in the trust barometer.
Taking the top spot is the Employers Provident Fund, the custodian of our retirement funds, with 79 out of a possible 100 points. Bank Negara Malaysia and national oil corporation, Petronas, tie at second place, with 77 points.
On the other hand, entertainment providers have not done so well. Netflix made it home with just 47 points. It is unclear if this has to do with the fact that most of what it dishes out are just fiction.
The survey assessed public trust in companies and institutions in Malaysia in 2021. More than 100 corporations and institutions were covered in the survey.
Overall, the scores have improved over previous years. The survey showed that businesses and institutions scored 67 points in 2021, up from 50 in 2020 and 46 in 2019.
Rounding off the top five in the trust index were Pos Malaysia and Tenaga Nasional Berhad, with 75 points each, underlining the increased confidence or faith the people have in the big boys of business.
Breaking it down further, the survey showed that GLC, regulators and telecommunication service providers showed improvements in the trust barometer.
The 12 GLC covered in the survey collectively scored 68 points, up from 60 the year before. The nine government and public regulators saw their scores rise seven points to 64, while the seven telecommunications companies surveyed upped their scores from 48 to 59.
The 27 financial service providers also showed improvements but only marginally. Their scores rose from 43 to 44.
The fast-moving consumer goods (FMCG) sector as well as media and entertainment were the only ones that bucked the trend.
The eight FMCG scored 54 points last year and the six media and entertainment providers chalked up 42 points. Even so, both groups lost a point each compared with 2020.
In his comments on the results of the survey, Ipsos managing director Arun Menon said that most companies and organisations had done fairly well in helping the people through a turbulent year.
He said the improved scores were a reflection of the recognition for their efforts.
