Petaling Jaya – Sunway REIT Management Sdn Bhd, one of Malaysia’s largest real estate investment trust (REIT) was awarded the highly acclaimed “Excellence in Corporate Governance – Private Sector” by the Malaysian Institute of Management, further reaffirming its high standard of corporate governance practices. The Global Excellence in Management Award (GEMA) ceremony, held at the Kuala Lumpur Convention Centre, saw the presentation of awards to 25 niche global class leaders whom had made exceptional management impact in leadership, business, community and nation building.
GEMA 2013 Awards is an initiative by the Malaysian Institute of Management to encourage and award sustainable achievement across business, government and citizen initiatives which inspired change in development and growth businesses, communities and nation. This award was judged by a panel of respected professionals from the fields of management, leadership, communications, business, innovation and sustainability representing government, business and third sector initiatives aiming to better managed business and public service society.
This recognition marks the third time Sunway REIT’s best corporate governance practices have been recognised within the span of 9 months by various credible institutions including the National Annual Corporate Report Awards (NACRA) and Asia Pacific Real Estate Association (APREA), where Sunway REIT was named winner of the overall award for best practices in the emerging market category on top of five merit awards for various corporate governance best practices.
“Winning this award gave Sunway REIT’s management team a boost to continue to maintain a high level of corporate governance practices in our accounting and financial reporting, transparent market disclosure and portfolio performance disclosure,” said Dato’ Jeffrey Ng, CEO of Sunway REIT Management Sdn Bhd.
“Management must have strong commitment towards high standards of corporate governance and financial disclosure to ensure continued success and growth of the assets. Best practices which go beyond minimum standards will always be appreciated by investors,” he added.
The culture of quality corporate governance permeates through Sunway REIT’s management aiming to achieve the highest standard of best practices in order to ensure that outcomes of decision making are always in the interest of unitholders. Proper monitoring of internal processes in the company ensures that fraud does not occur.