GRANT THORNTON RELEASES INTERNATIONAL BUSINESS REPORT (IBR) 2008

 

• • RELEASE COINCIDES WITH NEW BRANDING EXERCISE, RENEWED EMPHASIS ON CORPORATE SOCIAL RESPONSIBILITY AND CORPORATE LEADER OF THE YEAR AWARD

   

Kuala Lumpur 15 July 2008 – The Malaysia results from the 2008 Grant Thornton International Business Report (IBR) was released today at an event that also saw the announcement of a new branding exercise for the international accounting and consulting firm.

And for the first time ever, the release of the IBR was held together with the Grant Thornton’s Corporate Leader of the Year Award, an annual award that seeks to honour individuals who have shown long-term commitment to Corporate Social Responsibility (CSR).

This year’s inaugural recipient is Datuk Vinod B. Sekhar, founder of the Petra Group and the Sekhar Foundation. As part of the Award, Grant Thornton has commited to promoting and supporting a charity of the winner’s choice through its global network of offices. Datuk Vinod has chosen the Foundation for Anthropological Research and Environmental Studies (FARES), a charity chaired by Hollywood actor and environmental campaigner Mel Gibson, as the recipient for Grant Thornton’s support.

In a congratulatory message to Datuk Vinod, former US President Bill Clinton, said: “Vinod’s work with the Petra Group and the Sekhar Foundation in the field of CSR has been groundbreaking. Vinod has worked tirelessly to tackle some of the greatest challenges facing Malaysia and South East Asia. In particular his campaign to break down racial barriers in Malaysia demonstrates the positive difference a business can make to society in large and within the communities in which it operates.

” On hand to grace the event and present the award was Minister of International Trade and Industry Malaysia, Yang Berhormat Tan Sri Muhyiddin Yassin.

IBR 2008 FINDINGS

2008 marks the third time running that Malaysia has participated in the IBR survey. The first report was launched in 2006 by Finance Minister Tan Sri Mohamed Nor Yakcop.

As with previous years, the survey in Malaysia was conducted by SJ Grant Thornton, the Malaysian member firm of Grant Thornton International.

As the only survey of its type, the IBR examines the attitudes, plans and trends of 7,800 businesses in 34 countries across six continents that include all G8 and the majority of the World Bank’s top 20 economies. Altogether, these countries account for 81% of global GDP.

In January this year, Grant Thornton International released its findings on a survey of the global business optimism/pessimism. Other findings in the survey include corporate social responsibility (February), recruitment and retention (April), global growth (May) and global overview (June).

Research was also conducted on business expectations, business constraints, competitiveness, international business languages, corporate finance, taxation and business fraud.

CORPORATE SOCIAL RESPONSIBILITY

Acting on findings from the February report of IBR 2008, SJ Grant Thornton has kick started several CSR efforts, one of which is the creation of Corporate Leader of the Year Award.

The annual award is given in recognition to a special individual with outstanding contributions and a long-term dedication to CSR, and this year’s inaugural Corporate Leader is Datuk Vinod Sekhar of the Petra Group.

As part of the award, Grant Thornton will support a charitable cause chosen by the recipient. Datuk Vinod has nominated the Foundation for Anthropological Research and Environmental Studies (FARES) as his chosen charity.

Formed in 1996, FARES is a non-profit research dedicated to the scientific study of humanity and environment through conservation, education and responsible development.

Its chairman Mel Gibson hopes that the award will help highlight FARES’ biggest undertaking yet: the Mirador Basin project in Guatemala that seeks to protect both the Basin’s large number of archeological finds and its rainforest.

“There are many challenges threatening our mission, including farming, looting and commercial development,” said Mr Gibson. “With Grant Thornton’s help, we will stop these harmful practices and meet our goal of turning the Mirador Basin into a hotspot for eco-tourism that will benefit Guatemala economically and environmentally which in turn will serve to benefit the entire world.”

Grant Thornton’s support will take the following forms:

1) To create a new section on the Group’s websites (intranet and internet) that will highlight the work of FARES, with particular reference to the Mirador Basin Project.

2) To communicate the work of FARES to Grant Thornton’s international client base in e-newsletters and other promotional correspondence.

3) To promote FARES to the client base as a highly deserving recipient of corporate donations.

4) To use FARES as a case study when promoting Grant Thornton’s CSR activities to global media.

“To promote CSR, we can’t just publish a CSR survey. We must recognise outstanding contributions to CSR among the business community,” said SJ Grant Thornton’s Managing Partner Dato’ N. K. Jasani, adding that businesses should positively contribute to society by improving the quality of life, environment, sustainability and fair pricing.

A NEW LOOK FOR GRANT THORNTON INTERNATIONAL

SJ Grant Thornton and other member firms in over 100 countries are adopting a new brand identity and logo that makes them instantly recognisable as part of the Grant Thornton International network.

The new logo, which will be used consistently around the world, was inspired by the Mobius strip, a mathematical discovery from the 19th Century. It captures the qualities of a continuous band that looks three dimensional (global), permanent, yet constantly flexible, and reflects everything coming together in a cohesive whole.

Purple, the newly adopted corporate colour, is predominantly associated worldwide with leadership, dignity and governance.

The tone of voice of the new brand is bold, clear and positive. The new logo and visual style will affect every aspect of Grant Thornton’s working environment, from stationery and websites to office receptions and advertising.

Ends

NOTES TO EDITORS

Grant Thornton International started a major annual survey of the attitudes and expectations of small and medium-sized businesses in 1992 called the European Business Survey (EBS). In 2003 the research project was widened to an international perspective covering Medium to Large businesses and renamed the International Business Owners Survey (IBOS).

In 2007, the survey’s name was changed from IBOS to the International Business Report (IBR). The IBR survey draws upon 16 years of trend data for original EBS participants and 5 years for original IBOS countries. 16 year trend data is available for: France, Germany, Greece, Ireland, Italy, the Netherlands, Poland, Spain, Sweden, Turkey and the UK, while 5 year trend data is available for Australia, Canada, Hong Kong, India, Japan, Mexico, Singapore, South Africa and the US.

Grant Thornton International will donate US$5 to UNICEF for every completed IBR questionnaire. In 2007 this resulted in a donation of over US$35,000.

The research was conducted by Experian Business Strategies Limited. To find out more about IBR and to obtain details of IBR reports and results please visit www.internationalbusinessreport.com

About SJ Grant Thornton
www.gt.com.my

SJ Grant Thornton is the Malaysian member of Grant Thornton International, one of the world’s leading organisations of independently owned and managed accounting and consulting firms providing assurance, tax and specialist advice to growth-oriented and entrepreneurial businesses. The strength of each local firm is reflected in the quality of the international organisation. Operating in over 100 countries in more than 520 offices worldwide, all Grant Thornton International member firms share a commitment to providing the same high quality service to their clients wherever they choose to do business.

About Petra Group

Petra Group is a technology and media conglomerate with businesses ranging from biotechnology, rubber recycling, biofuels and IT. It is 60% owned by the Sekhar Foundation, the philanthropic organization founded by Datuk Vinod Sekhar. This year the Foundation has made commitments to environmental, educational and charitable causes totaling about US$20m. More details can be found at www.petragroup.net

For further information please contact:

Hanisah Gani, Corporate Communications, SJ Grant Thornton at 03-26924022 or hanisah@gt.com.my.

Andrew Murray-Watson, Vice President Communications, Petra Group at andrew.mw@petragroup.net

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