Companies from the financial services industry to shipping, power to maritime services, and from plantation to consumer products and services, periodically give away large sums in cash and kind.
Despite the economic challenges during the Covid-19 pandemic, the top players on Bursa Malaysia gave away millions in cash and kind last year, while their employees spent thousands of hours to volunteer for a good cause.
In terms of cash handouts, Maybank topped the list with RM46.6 million, followed by Tenaga Nasional Bhd (TNB) with RM39.57 million, according to the “Bursa Top 20: Who’s The Most Charitable?” list compiled by wikiimpact.com.
But it was glovemaker Top Glove that appeared to have been the most generous. The company that made huge profits from the sky-high demand for rubber gloves contributed RM191.5 million in kind.
Apart from the large amount of cash TNB gave away, it was equally generous with giving in kind. The power company donated RM117.97 million worth of items.
Top Glove employees were equally generous, spending a total of 61,152 hours of their time to engage in voluntary work, second only to the employees of CIMB Group Holdings Bhd, who collectively gave away 67,278 hours of their personal time.
Among the others that have also given notable amounts of cash away are Sime Darby Bhd at RM20 million, Sime Darby Plantation Bhd at RM13.71 million and RHB Bank at RM9.15 million.
Also among the top donors were Telekom Malaysia Bhd which gave away RM23.55 million in kind and RM4.49 million in cash, as well as MISC Bhd which contributed RM23.14 million in kind.
The impact these companies have had with their generosity has also been extensive. For instance, Maybank has had a positive impact on half a million houses just with its “in-kind” giving. The wikiimpact list does not specify what items the bank gave away.
The beneficiaries were as varied as the industries these donors were from. For instance, healthcare company Hartalega Holdings Bhd gave in support of students, while Hong Leong Bank chose to support the Orang Asli.
Plantation giant Kuala Lumpur Kepong Bhd chose to lend their support to environmental conservation while IOI Corp Bhd, another plantation player, donated items to 17 rangers.
In terms of amount donated as a percentage of profit, Sime Darby topped the list at 1.4% followed by TNB at just over 1%.
The list shows that the top 20 companies on Bursa Malaysia gave away a total of RM159.69 million in cash in 2021, accounting for 0.29% of their total net profit.