While it performed better in 2022 compared with 2021 – it gained four points in the trust index, rising from 44 to 48 – the financial services sector remained the least trusted last year.
While the GLCs lost three points in the index – dropping from 68 to 65 – the sector remained the most trusted.
In the survey, conducted in the second half of 2022 by market research company Ipsos, a total of 6,000 people were interviewed face-to-face for their views on more than 100 brands.
It showed that the Employees Provident Fund (EPF) remained the most trusted institution in the country, with 76 points on the index.
Petronas came in second with 72 points. Nestle (at 71), PLUS (71) and Petron (70) rounded up the top five. These three are also new entries in the top five list.
No reasons were given for the level of trust achieved by each sector.
Among the many sectors covered, media and entertainment made the greatest improvement in its trust index, moving up from 42 to 57 points. Nonetheless, it still trailed the GLCs, government or public regulators as well as the consumer goods sector.
The telecommunications sector saw the widest decline, dropping seven points to 52.
Within sectors, the EPF was adjudged the most trusted among 76 government or public regulators while Petronas came out tops among 72 GLCs.
Nestle took the lead among the 71 consumer goods vendors, Maybank was the most trusted among 69 financial institutions and McDonalds scored the highest marks in the trust index among 67 food and beverage and restaurants surveyed.
Touch n Go was the top in the mobile wallet sector, Shopee led in the e-commerce group and Perodua was the most trusted in the automotive sector.
Among telecommunications providers, Maxis took the lead, while Netflix came out tops among media and entertainment providers, Samsung was the most trusted mobile device and Prudential the most trustworthy insurer.
In a note accompanying the results of the survey, Ipsos public affairs associate director Lars Erik Lie said that in the midst of new uncertainties as Malaysia emerged from Covid-19 restrictions, the people’s trust in companies and institutions remained firm.
He also noted that in a year where the 15th general election dominated the public sphere, the media earned the approval of the people. “No other sector saw a bigger gain than the media in 2022,” he noted.