105. The Government had announced in the 2007 Budget that all PLCs are required to disclose CSR activities in their annual financial reports. Beginning financial year 2008, PLCs will be required to disclose their employment composition by race and gender, as well as programmes undertaken to develop domestic and Bumiputera vendors. The private sector should leverage upon the strength of Malaysia’s diversity by employing Malaysians from all ethnic groups. [full Budget 2008 text here]
This new requirement must have escaped many people. When I read this paragraph, I was curious. What is the purpose of making it mandatory for PLCs to do this? Will they be rewarded or penalised, or will this be a pure academic exercise?
Will the Government require other establishments to declare their racial composition as well? Shopping malls, for example: do we make the KLCC tell us how many Chinese-owned outlets there are compared with Malays, Indians, foreigners, etc? And the GLCs?