KUALA LUMPUR, 6 December 2022 - Homegrown Malaysian retailer MR D.I.Y. Group [M] Berhad [MR.DIY] has been named Best Newcomer in the Equities Category at the inaugural The Edge ESG Awards 2022.
The Edge ESG Awards aims to recognise public-listed companies (PLCs) and asset management firms that it deems are leaders in environmental, social, and governance standards in Malaysia. There are two categories to the awards: Equities and Funds.
Under the Equities category awarded to the retailer, The Edge worked with Bursa Malaysia and FTSE Russell to reward best-performing PLCs using FTSE’s methodology. While under Funds category, The Edge worked with Morningstar, an American financial services firm, to reward best-performing asset management firms using its methodology.
A total of 65 Awards were presented to 44 companies, with gold and silver recipients for each of the six categories under the Equities awards (By Sector, Most Improved Performance Over 3 Years, Most Consistent Performer Over 5 Years, Best Newcomer, Top 3 Performance in ASEAN, and Long Term Achiever), and the five categories under the Funds awards (Best Overall Winner, Best Fund Based on Asset Class, Best on E, S, G, Best Impact, and Best on Low Carbon).
Commenting on the award MR.DIY Group Chief Executive Officer, Adrian Ong, said, “Sustainability practices have been core to our operations since we were founded in 2005. We recognise that our stakeholders want to know how it is embedded in our vision, culture, and operations, and seek assurance that we are responsible in our actions and responsive to the needs of the communities in which we operate. As Malaysia's leading home improvement retailer, and one of the top companies on the Malaysian stock exchange, we see it as our responsibility to set benchmarks in sustainable principles and practices across all areas of our operations. This award acknowledges our commitment to sustainably growing our business and creating shared value for all our stakeholders, and we thank the organising committee and the panel of judges for recognising our efforts.”
He added that sustainability was a journey, with external engagement and transparency fundamental to making significant progress, saying, “The retail industry is such that driving sustainable practices must be a collective effort, given that we are embedded within a deeply interconnected network of diverse stakeholders. Our success stems from the mutually-rewarding relationships and collaborations we have cultivated across our value chain, with customers, vendors, regulators, and the communities in which we operate.”
Ong added that as the Group makes its journey towards sustainability integration, it was also cognizant of the need to ensure that its business model remains resilient to external sustainability-linked risks.
With this in mind, he said the Group was committed to ensuring the accessibility of its products at “Always Low Prices” and steadily growing the range of eco-products offered in its stores, with a target of increasing its eco-products sales mix by up to 10% by 2030 to further strengthen its commitment to sustainable practices. To ensure the Group continued on this trajectory, he said it had set long-term goals that were aligned to clear strategies, defined targets, and decisive actions.
The inaugural The Edge ESG Awards 2022 event was held at the Sunway Resort Hotel, Selangor, on 28 November 2022. In all, 44 companies were recognised in six categories under the Equities awards, and five categories under the Funds awards.
This is MR.DIY’s first ESG-related award. It has received a number of other awards this year, including the Regional Award as the ‘Top Home Improvement Retail Brand” across four markets in the World Branding Awards, Deloitte Private’s Best Managed Companies” and Frost & Sullivan’s “2022 Company of the Year in the Home Improvement Retail Industry”, both for the second year running. The retailer was also named the “Most Outstanding Company - Consumer Discretionary Sector” in ASIAMONEY “Asia’s Outstanding Companies Poll 2022”. MR.DIY Group was inducted into Bursa Malaysia’s FTSE4Good Index in 2021.
For more information, visit MR.DIY’s website, www.mrdiy.com, and its social media channels, Facebook and Instagram.