The Star Outstanding Business Awards (SOBA) 2023 Gala Night was a celebration of sustainability and environmental, social, and governance (ESG) practices, with the Credit Guarantee Corporation Malaysia Berhad (CGC) among the advocates urging businesses to embrace these principles.

The event, which honored outstanding Malaysian businesses for their contributions to the economy, emphasized the importance of sustainability and social responsibility. Notable figures from various industries, including CGC’s President and CEO Datuk Mohd Zamree Mohd Ishak, were present at the gala held at One World Hotel, Petaling Jaya.

CGC’s Mohd Zamree highlighted the significance of ESG practices for SMEs, stressing the need for education and incentives to encourage compliance. He mentioned Bank Negara Malaysia’s Low Carbon Transition Facility, which offers financial support for SMEs transitioning to green practices, with CGC providing guarantees for loans up to RM10 million.

The emphasis on sustainability resonated with award winners like Woodpeckers Group Sdn Bhd, which plans to focus on ESG initiatives such as recycling plastic products. Another recipient, Imagine AI Sdn Bhd, expressed pride in Malaysian technology and aimed to enable more SMEs to adopt AI solutions.

CGC’s presence at SOBA 2023 underscores its commitment to promoting sustainable business practices and supporting SMEs in their journey towards responsible and environmentally-conscious operations. As businesses continue to navigate challenges and opportunities, initiatives like SOBA serve as catalysts for positive change and growth in the Malaysian business landscape.