Report: M’sians have high trust in businesses

PETALING JAYA: Malaysia is ranked seventh on the Trust Index, according to a survey of 32,000 people in 28 countries.

The Trust index for Malaysia is 68% in 2024, according to the Edelman Trust Barometer, an increase from 62% in 2023.

Malaysia is between Thailand at sixth with a score of 70% and Singapore at eighth with a score of 67%.

The report, from a survey conducted from Nov 3–22 last year and including more than 1,000 respondents from Malaysia, provides a snapshot of public sentiment on trust, innovation and governance, said Edelman.

The surge in the rankings reflects growing confidence in the stability and democratic governance under the unity government led by Prime Minister Datuk Seri Anwar Ibrahim, which saw a 13-point increase in public trust since last year, it added.

Edelman Malaysia chief operating officer Chris de Cruz said there was a positive shift in public perceptions of governance and institutional frameworks.

According to the survey, Malaysians trust businesses the most, at 74%, followed by NGOs, the government, and the media.

“This increase signals a growing optimism in our ability to navigate economic challenges and foster inclusive growth.

“Businesses are seen as pivotal in driving societal change as trusted institutions. Malaysians expect CEOs to take a stand on critical issues, including fair wages, climate change, and economic inequality.

“Businesses that align with public values and actively address societal concerns are more likely to gain public support,” said de Cruz in a statement.

Besides the quantitative figures, the report also highlighted evident economic worries, with Malaysians’ top concerns being slow economic growth, societal divisions, and misinformation.

Additionally, 97% of employed Malaysians worry about job loss, with climate change (85% of the general population) and the increase of information warfare (73%) adding to their anxieties.

The survey also highlighted that 63% of Malaysians feel government regulators lack the understanding to govern emerging technologies effectively, while 33% believe innovation needs to be better managed.

The 2024 Edelman Malaysia Trust Barometer was released on June 26 in Kuala Lumpur through a panel discussion featuring prominent leaders and experts.

The other countries in the Trust Index ahead of Malaysia include China, India, the United Arab Emirates, Indonesia and Saudi Arabia.