OCBC Bank (M) Bhd and Swiss luxury watchmaker Jaeger-LeCoultre have stepped in as sponsors for The Edge Billion Ringgit Club (BRC) 2015.

In its sixth installation, the BRC aims to recognise Malaysia’s largest corporates for jobs well done — not only in raking in profits but also in corporate responsibility (CR) efforts.

OCBC has been the main sponsor since BRC’s inception in 2010. Senior vice-president and corporate and commercial banking head Jeffrey Teoh says awards like the BRC act as an incentive for companies to adopt a holistic approach to doing business.

He says that the purpose of business is increasingly recognised as a platform for providing meaningful service to humanity, with profits being the means by which to keep such a meaningful entity viable.

“I think a company exists as part of a whole ecosystem in terms of regulators, shareholders and stakeholders,” he says.

“So, if you don’t have an event to recognise that, it is all for naught, it is not sustainable.”

He says OCBC enjoys being a part of the annual event, not so much as an aid to brand building, but because “it is the right thing to do”.

“I think the not-so-obvious elements [in business] such as how you operate in an environment where there is growing awareness of CR, how we function in an economic manner without destroying the environment and how we operate in a manner where we give opportunities for Malaysians to broaden their talent ... these things do not get much coverage, but that’s why I think the BRC is very different compared with other awards,” he says.

“It is more holistic. It is a more balanced scorecard.”

Jaeger-LeCoultre Malaysia country manager Reena Tan says BRC’s high standard of assessment, which is based on quantitative and qualitative criteria, sets the event apart from the others in the business community.

“I think it is important to give recognition to corporations that have done tremendously well all round, not just in terms of profits but also their contributions to the Malaysian society,” she says.

“As Jaeger-LeCoultre, too, plays a big role in CR, it has had a strong partnership with Unesco (United Nations Educational, Scientific and Cultural Organization) since 2008, to protect the 47 marine areas listed as World Heritage sites.”

She says that the company has even made a short video titled The Guardians on Glacier Bay National Park. The US national park is a hotbed for marine biodiversity, recognising the work of scientists and project managers in preserving the site.

The chief executive officer (CEO) of the BRC Company of the Year award winner will receive a Master Eight Days Perpetual 40 watch. The watch has a perpetual calendar and boasts an eight-day power reserve, thanks to its twin barrels that store up a considerable amount of energy.

Technically programmed to require no manual correction before the year 2100 — even the noblest mechanisms cannot keep track of the century years that are not leap years — it will continue to provide an accurate display of the date, the day of the week, the month and the year in four digits, along with the power reserve, the moon phase, the alternation between night and day, and even the security zone between 10pm and 3am during which no changes must be made.

Tan says the watch is a symbol of the values inherent in exemplary leadership and for steering a company to the billion-ringgit mark.

“Jaeger-LeCoultre is a visionary brand that celebrates accomplishment in fine watchmaking, combining elegance and confidence,” she adds.

“Hence, our values are, in a way, a fine representation of the corporation/CEO who will be receiving the Jaeger-LeCoultre timepiece.”

The BRC recognises companies with a market capitalisation of RM1 billion and above as at March 31 each year.

The shortlisted companies, which are added to the annual list automatically once they fulfil the requirements, are evaluated based on growth in profit before tax, returns to shareholders and CR commitments, among others.

The CR initiative component is evaluated by a panel of judges, which includes an OCBC representative.

The BRC awards include Malaysia’s Outstanding CEO, Most Profitable Company, Highest Profit Growth Company and Best Performing Stock.

Previous winners of the Malaysia’s Outstanding CEO award were Public Bank Group chairman Tan Sri Teh Hong Piow, CIMB group chairman Datuk Seri Nazir Razak, AMMB Holdings Bhd chairman Tan Sri Azman Hashim, AirAsia group CEO Tan Sri Tony Fernandes, former Malayan Banking Bhd president and CEO Datuk Seri Abdul Wahid Omar and former 

S P Setia Bhd president and CEO Tan Sri Liew Kee Sin.

Last year, Dutch Lady Milk Industries Bhd clinched the Company of the Year award while Sunway Group founder and executive chairman Tan Sri Jeffrey Cheah and Axiata Group president and CEO Datuk Seri Jamaludin Ibrahim bagged the Outstanding CEO award.

Last year’s event was attended by Deputy Prime Minister Tan Sri Muhyiddin Yassin.

This article first appeared in The Edge Financial Daily, on June 22, 2015.