PETRONAS and Maybank among firms best at managing crisis, finds study

PETRONAS has been named by two out of three Malaysians (65%) as the brand that has been able to mange the crisis situation. This was followed by Maybank (62%), McDonald's (60%) and the Employees Provident Fund (60%), according to a study by Ipsos Malaysia which surveyed 4,000 individuals face-to-face between June and November last year on more than 100 companies in Malaysia.

While the top five companies were diverse in their nature of business, Ipsos said good crisis management is not specific to particular sectors, but integral to organisational DNA. It added that it is more important for companies to be authentic and relevant during a crisis, in a way that is aligned to the company’s social purpose and true to its values.

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Meanwhile, Maybank and POS Malaysia stood out for their open and honest communications (67%), while those surveyed also said McDonald's puts its customers first (67%). EPF was associated with supporting local communities (67%) while Maybank is known for having a strong financial background (71%).

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Overall, Ipsos found that Malaysians believe government-linked companies (GLCs) and and regulators were able to manage a crisis situation better than the private sector companies. About 49% of the respondents said GLCs were able to manage a crisis situation while 48% said the same for government regulators. They were well ahead of companise in the telecom (42%), financial (40%) and media (38%) industries.

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While consumers and the general public expect companies to contribute to the pandemic recovery, public and private organisations have been adapting across the world to survive through crisis. Actions have ranged from reengineering products, to supporting government initiatives and changes in communications strategy to address the new situation. It added that GLCs and government regulators have been at the centre of the pandemic response, and the public have taken note of that.