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NESTLÉ (MALAYSIA) BERHAD IS MOST ADMIRED COMPANY
23 June 2008, Petaling Jaya
Nestlé (Malaysia) Berhad earned the top spot as overall most-admired Malaysian company ahead of other corporate giants such as Maxis, Public Bank, Genting, Petronas and YTL Corporation in the Wall Street Journal Asia’s Asia 200 survey of readers. The accolade came hot on the heels of the recent ACCA 2007 Malaysia Environmental and Social Reporting Awards (MESRA) where Nestlé was named winner for the best social reporting category. Nestlé was also No. 1 in the categories of corporate reputation and quality of its products and services, and No. 3 in innovation in the survey.
Managing Director, Sullivan O’Carroll remarked, “We firmly believe that it is our responsibility to conduct our business in an efficient and transparent manner and any investments that we make must be good for the country and the Company, while following acceptable codes of business conduct. We have a track record of living up to this responsibility, not only in Malaysia but in various parts of the world where we do business,”
The innovative evolvement of Nestlé’s brands in Malaysia, its leading position as the producer of Halal foods and unique approach to corporate responsibility combined with what analysts termed as ‘excellent time management in response to pricing, costing and promotional activities’ made Nestlé the top choice in the poll of 2,447 executives and professionals conducted by market-research firm Colmar Brunton in 12 Asian-Pacific countries. Wall Street Journal Asia also notes that many of Nestlé's brands, including the MILO® malted chocolate drink, enjoy an iconic status in Malaysia, where the company has a 95-year history and people drink more MILO than Coke. "You don't order hot chocolate when you go out -- you order a MILO. Or you order fried MAGGI® noodles, a Nestlé brand,” says Foong Wai Loke, an analyst who covers the consumer sector for Credit Suisse.
The Asia 200 survey is the ultimate performance review of Asia’s leading companies. First conducted in 1993, the 14th installment of Asia 200 identifies the most admired publicly traded companies in Asia Pacific based on five key leadership criteria:
- Management’s long-term vision
- Innovativeness in responding to customer needs
- Quality of products and services
- Reputation such as good corporate governance and workplace and environmental policies
- Financial reputation
Source: Wall Street Journal Asia.
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