Survey Reveals Most Trusted Companies in Malaysia
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Big corporations, even those related to the government, are widely regarded as untrustworthy. However, a recent survey, "Ipsos Trust Track: The Most Trusted Corporations and Institutions in Malaysia (2021)", proved otherwise.
Government-linked corporations (GLC) and regulators scored highly in a recent study conducted by global market services and consulting firm Ipsos Malaysia.
EPF is the most trusted entity in Malaysia
With 79 points out of a possible 100, the Employers Provident Fund (EPF), the custodian of this country's retirement assets, takes the top rank. With 77 points, Bank Negara Malaysia and Petronas tied for second place.
The most trusted brands in most categories are homegrown with a few exceptions, such as Samsung Co Ltd and Apple Inc for mobile devices and Shopee for e-commerce.
Entertainment suppliers, on the other hand, have not fared as well. Netflix topped the category with only 47 points.
In 2021, the poll evaluated public trust in Malaysian companies and organisations. The survey included more than 100 businesses and institutes. Overall, the results are better than in recent years. Businesses and organisations received 67 points in the study, up from 50 in 2020 and 46 in 2019.
Pos Malaysia and Tenaga Nasional Berhad were among the top five in the trust index with 75 points each, demonstrating the public's growing confidence in big business players.
Most companies are gaining trust from the public
According to the poll, GLC, regulators, and telecommunication service providers all exhibited improvements in the trust barometer.
12 GLCs covered in the poll collectively received 68 points, up from 60 in 2020. The nine government and public regulators improved by seven points to 64, while the seven telecommunications businesses surveyed also improved by seven points to 59.
The 27 financial service providers improved as well, albeit only by a little. Their combined score increased from 43 to 44. Only the fast-moving consumer goods (FMCG) industry and media and entertainment defied the trend.
Last year, the eight FMCG companies received 54 points, while the six media and entertainment companies received 42 points. Despite this, both groups dropped a point in comparison to 2020.
Celcom Axiata Bhd was named the most trusted telecoms firm in the country, while Malayan Banking Bhd was named the most trusted bank in Malaysia, and Perodua was named the most trusted automobile company.
With a trust score of 55%, Touch 'n Go emerged as the most trusted e-wallet service. Meanwhile, Dutch Lady Milk Industries Bhd topped the consumer products category, and Takaful Malaysia emerged as the most trusted insurance company.
Ipsos managing director Arun Menon commented on the survey's findings, saying that most businesses and organisations had done an excellent job of assisting people through a challenging year. He explained that the higher grades resulted from their efforts being recognised.
Over 3,000 face-to-face interviews were performed throughout 2021, with a "nationally representative" sample profile. Ipsos claims to be one of the world's largest market research firms, with operations in 90 countries and over 18,000 employees.
Source: TheSun, The Malaysian Reserve, Malay Mail