SSM publishes circular as guide for CSR reporting

KUALA LUMPUR: The Companies Commission of Malaysia ( SSM) has published the Best Business Practice Circular 6/2017 ( BBPC 6/2017) entitled ‘Business Review Report: Disclosure and Reporting Guide’.

In a statement yesterday, the commission said, the book would serve as a guide for Malaysian companies to report on corporate social responsibility activities conducted by them.

“The publication of this book is in line with the provision of Section 253( 3) of the Companies Act 2016 (CA2016), which aims to promote the disclosure of social responsibility in the form of a business review report,” it said.

SSM said the section stipulated that the business review report would form part of the director’s report and that its contents included matters as set out in Part II of the Fifth Schedule of the Act.

The BBPC is divided into three parts, it said.

“The first part explains the corporate responsibility disclosure in Malaysia and how SSM’s Corporate Social Responsibility Agenda as well as the CA2016 contributes towards promoting corporate social responsibility initiatives for all types of companies in Malaysia,” it said.

The second part explained the overview, objectives and benefits of business review reporting as well as providing guidance on writing a business review report, SSM said.

It said the third part provided the model template to demonstrate the overall report, which focused on two areas — environmental issues within the business and human rights in business. — Bernama