MyDigital, Bursa Malaysia pen Memorandum of Collaboration to drive ESG innovations through digital transformation

• Signed MoUs with 5 Malaysian PLCs
• MoC aids govt’s push for firms to accelerate ESG goals through digital transformation

MyDigital Corporation and Bursa Malaysia Berhad have entered into a Memorandum of Collaboration (MoC) to empower Public Listed Companies (PLCs) in Malaysia to achieve their Environmental, Social, and Governance (ESG) goals through the adoption of digital technologies. The MoC formalises the two parties’ existing collaboration through the Malaysia Centre4IR ESG Innovation Challenge, announced last month.

The MoC was signed by Umar Swift, CEO of Bursa Malaysia, and Adrian Marcellus, CEO of MyDIGITAL Corporation and head of the Malaysia Centre for the Fourth Industrial Revolution (MYCentre4IR). The signing ceremony was witnessed by Gobind Singh Deo, Minister of Digital Malaysia, and Abdul Farid bin Alias, Senior Independent Non-Executive Director of Bursa Malaysia.

The MoC aligns with the government’s efforts via the Ministry of Digital to support companies in accelerating their ESG journey through digital transformation. In particular, there is an emphasis on the need for Fourth Industrial Revolution (4IR) technologies to be at the forefront of this transformation, enabling corporates to address pressing challenges, the parties stated in a statement.

Under the scope of the MoC, MyDigital Corporation and Bursa Malaysia will explore a range of initiatives, including:

1. Co-Authoring Thought Leadership Publications: Leveraging the Malaysia Centre for the Fourth Industrial Revolution (MYCentre4IR) network, in affiliation with the World Economic Forum (The Forum), to produce content on sustainability, green supply chain management, digital transformation, and other related fields.
2. Best Practices Exchange: Facilitating knowledge exchange between Bursa Malaysia, MYCentre4IR, and The Forum on critical topics related to sustainability and green initiatives.
3. Hosting the Malaysia Centre4IR ESG Innovation Challenge: An Innovation Challenge that connects bright minds and promising startups and entrepreneurs locally and from around the globe with Malaysian PLCs. The goal is to uncover innovative solutions that address industry challenges, thus potentially increasing corporate competitiveness and benefiting businesses and the environment.

Gobind commented, “This occasion is testament to our nation’s ongoing digital transformation journey. It also represents the government’s strong commitment to embedding sustainability at the very core of our development strategies.”

He further stated, “I was pleased to read that Bursa Malaysia’s requirement for publicly-listed companies to disclose their sustainability practices in their annual reports was reflected in the article. In fact, the article also highlighted the Malaysia Centre4IR ESG Innovation Challenge. It added that the initiative exemplifies how innovation and partnerships can drive significant progress towards sustainability.”

Commenting on the collaboration, Umar Swift said, “At the Exchange, we have long recognised digital enablement as a key enabler for driving sustainable growth and competitive advantage among Malaysian companies. This MoC with MyDigital Corporation represents a step forward in our efforts to send the message that digitalisation and ESG go hand-in-hand to accelerate sustainable growth.”

“We anticipate that the collaboration's initiatives will support and inspire more companies to leverage digitalisation capabilities to improve their operational efficiencies and overall sustainability performance,” he added.

Adrian Marcellus said, “Today’s MoC with Bursa Malaysia is a pivotal step in our shared mission to advance sustainability through digital innovation. By leveraging the affiliation of MYCentre4IR with the World Economic Forum, we aim to facilitate progress towards sustainability and work together to build a more resilient and future-ready digital landscape.”

“We look forward to the Malaysia Centre4IR ESG Innovation Challenge and the thought leadership and capacity-building activities under the scope of this collaboration with our anchor corporate partners,” he added.

MoUs with 5 Malaysian PLCs

In addition to the MoC signing, MyDigital Corporation also signed Memoranda of Understanding with five Malaysian PLCs at the event: CJ Century Logistics Holdings Berhad, Globetronics Technology Berhad, Malayan Banking Berhad, REDtone Digital Berhad, and Sunway Innovation Labs (representing Sunway Group).

These MoUs are an extension of the aforementioned MYCentre4IR Innovation Challenge. The Innovation Challenge will culminate with a Demo Day at Bursa Malaysia on 7 November 2024, where five of the most promising ideas will receive pilot project funding opportunities and access to a network of industry leaders and investors.

For more information about the Malaysia Centre4IR ESG Innovation Challenge and how to participate, please visit the challenge page here.