This article first appeared in The Edge Financial Daily, on June 2, 2016.

KUALA LUMPUR: Businesses can build trust if they are authentic in their intentions, transparent about their business, and committed to carrying these values throughout the organisation, led by the chief executive officer (CEO).

These were among the findings of PricewaterhouseCoopers Malaysia’s (PwC) thought leadership publication entitled “‘Trust in business: Delivering authentic value”, said PwC in a statement.

The publication, which explores the dynamic nature of trust through a series of conversations with business leaders, a public opinion online poll and a focus group, was launched yesterday in conjunction with the 2016 World Economic Forum on Asean. The online poll and the focus group provided views on trust from the larger public based on their interactions and experiences with businesses. These views were then compared and contrasted with the views of six business leaders culled from in-depth interviews with them.

The business leaders interviewed were Nestlé (M) Bhd managing director Alois Hofbauer, Malayan Banking Bhd group head of global banking Datuk Feisal Zahir, AmBank Group senior adviser Datuk Seri Johan Raslan, BFM Media Sdn Bhd founder/managing director Malek Ali, Sunway Bhd property development division managing director Sarena Cheah, and Employees Provident Fund CEO Datuk Shahril Ridza Ridzuan.

Among the findings were that 88% of the poll respondents agreed there isn’t any concern about losing authenticity when you design a programme around trust because trust is steeped in being real and genuine.

“It’s hard to build trust if you’re not authentic. It’s a necessary condition. You can’t say you’re one thing, and act the other,” Malek was quoted as saying.

On transparency, 79% of the respondents felt it is a key ingredient for any successful business today. “So you have to make sure that in being transparent, you’re also at the same time presenting a clear story that people can understand and follow,” Shahril was quoted as saying in the statement.

PwC Malaysia executive chairman Datuk Faiz Azmi said businesses are beginning to recognise that trust can be a tangible asset, though many are still struggling to understand where it lands on the list of priorities in this challenging environment. “We believe that as an emerging market, this presents an exciting opportunity for businesses to shape the conversation in Malaysia, and this is what has inspired PwC to embark on a journey to help corporate Malaysia make trust-building a priority,” said Faiz.