Philanthropy yet regulatory!Implementation of CSR through legislation: The Malaysian Companies Act 1965 perspectives

Abd Ghadas, Zuhairah Ariff and Hassan, Halyani (2008) Philanthropy yet regulatory!Implementation of CSR through legislation: The Malaysian Companies Act 1965 perspectives. In: 3rd International Borneo Business Conference, 15th-17th December 2008, Kota Kinabalu, Sabah. (Unpublished)

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Abstract

The nature of corporate social responsibility (CSR) is always regarded by companies as philanthropy. As such, many companies choose to ignore CSR by giving many excuses such as “limited fund, not enough profit, still a small business or CSR is only for public listed companies/conglomerates”. For the big companies, CSR is included in their business plan because good will and high reputation are important for the business. However, for small and medium sizes companies, CSR may not be regarded as important as it is often treated as a “welfare issue”. This is where the concern arise; many issues which CSR try to resolve are acts related to small medium sizes companies such as illegal dumping of industrial waste, open burning and improper or unsafe work place. It is highly perceived that for global changes, CSR should not be treated as philanthropy but rather as a mandatory requirement for all companies, regardless their sizes. One of the ways to do this is through legislations. With the recent amendments of Companies Act 1965, particularly in relation to directors duties to act with due diligence, it is apparent that CSR could be imposed to all companies. This paper will discuss the overall concept of CSR and the global expectation of its implementation. This paper will also analyze on how CSR could be imposed to all companies via regulations; with special reference to the Malaysian Companies Act 1965.

Item Type:	Conference or Workshop Item (Plenary Papers)
Additional Information:	1474/65196
Uncontrolled Keywords:	Philanthropy, regulatory, CSR, Malaysian Companies Act 1965
Subjects:	K Law > K Law (General) K Law > KPG Malaysia
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Ahmad Ibrahim Kulliyyah of Laws > Department of Civil Law Ahmad Ibrahim Kulliyyah of Laws
Depositing User:	Asst. Prof. Dr. Halyani Hassan
Date Deposited:	13 Sep 2018 15:18
Last Modified:	13 Sep 2018 15:18
URI:	http://irep.iium.edu.my/id/eprint/65196

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