MyDIGITAL Corporation and Bursa Malaysia Berhad have entered into a memorandum of collaboration (MoC) to empower Public Listed Companies (PLCs) in Malaysia achieve their environmental, social, and governance (ESG) goals through the adoption of digital technologies.

The MoC formalizes the two parties’ existing collaboration through the Malaysia Centre4IR ESG Innovation Challenge, announced last month, the duo said in a statement on last Friday.

According to the statement, the MoC aligns with the Malaysian government’s efforts via the Ministry of Digital, to support companies in accelerating their ESG journey through digital transformation.

In particular, there is emphasis on the need for Fourth Industrial Revolution (4IR) technologies to be at the forefront of this transformation, enabling corporates to address pressing challenges.

Under the scope of the MoC, MyDIGITAL Corporation and Bursa Malaysia will explore a range of initiatives, including co-authoring thought leadership publications; best practices exchange and hosting the Malaysia Centre4IR ESG Innovation Challenge.

Firstly, the duo will 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.

Secondly, they will facilitate knowledge exchange between Bursa Malaysia, MYCentre4IR, and The Forum on critical topics related to sustainability and green initiatives.

Thirdly, they will embark on 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 benefit businesses and the environment.

“This occasion is testament to our nation’s ongoing digital transformation journey,

“It also represents the government’s strong commitment to embed sustainability at the very core of our development strategies,” said Gobind Singh Deo, Minister of Digital Malaysia.

He said he 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,” he said.

Meanwhile, Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia said they have long recognized 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 digitalization and ESG go well hand-in-hand, to accelerate sustainable growth,

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

Adrian Marcellus, Chief Executive Officer of MyDIGITAL Corporation and Head of MYCentre4IR, added that today’s MoC with Bursa Malaysia is a pivotal step in their 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.

In addition to the MoC signing, MyDIGITAL Corporation also signed memorandum of understanding (MoU) with five Malaysian PLCs on last Friday.

These companies are 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.

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