Kuala Lumpur,31 July 2019
Sunway swept four awards at the Minority Shareholders Watch Group (MSWG) – ASEAN Corporate Governance Award 2018 held last night in Kuala Lumpur.
Director General of the National Centre for Governance, Integrity and Anti-Corruption Yang Berbahagia Tan Sri Abu Kassim bin Mohamed presented the awards to the winners at the award ceremony which was attended by the captains of the region’s leading public listed companies, capital market regulators and governance experts.
Sunway Berhad was ranked 1st for Industry Excellence Award for the Industrial Products and Services category and the award was received by Dato’ Chew Chee Kin, Sunway Berhad President.
Sunway Construction Group Berhad (SunCon) Chairman Dato’ Ir Goh Chye Koo received the Excellence for Overall Corporate Governance and Performance award on behalf of the Group. SunCon was named the first runner up winner in this category. Both Sunway Berhad and SunCon were among the Top 15 companies to win Excellence Award for CG disclosure.
The Award recognises corporate governance best practices by Malaysian listed companies using the ASEAN Corporate Governance Scorecard assessment. The Scorecard adopts the Organisation for Economic Co-operation and Development (OECD) Principles of Corporate Governance as its main benchmark.
This award was initiated by the ASEAN Capital Markets Forum (ACMF) with the support of the Asian Development Bank (ADB) to establish a common governance framework across the region as well as to raise the profile of ASEAN PLCs within the global investment community.
Leveraging the OECD Principles of Corporate Governance as its main benchmark, the ASEAN CG Scorecard covers the five areas of the OECD Principles while adopting two levels of scoring to better capture the actual implementation of the substance of good corporate governance.
To add credence to the assessment, an independent validation had also been conducted on the top ASEAN PLCs listed in the Top 50 in relation to the disclosures and certain practices of these PLCs. The categories of awards are as follows: Top 50 ASEAN PLCs, Top 5 ASEAN PLCs, Top 3 PLCs for each ASEAN Country and 2 Most Improved PLCs in each ASEAN country in terms of their CG practices.
The findings and the results of MSWG’s assessment are compiled in the Malaysia-ASEAN Corporate Governance Report which were also presented last evening.