SUN WAY RECEIVES RECOGNITION FOR GOOD CORPORATE GOVERNANCE

In the post-crisis economy where trust is the currency which every company has to earn, it becomes more and more important to create public awareness for the objectives of corporations, its operations and financial performance, in the interest of promoting higher standards of corporate governance.

Sunway recently received two awards at the National Annual Corporate Report Awards (NACRA). Sunway Holdings Berhad (Sunway Holdings) clinched the Industry Excellence Award under the Construction and Infrastructure Project Companies category; while Sunway City Berhad (SunCity) took home the Industry Excellence Awards under the Properties, Hotels & Trusts category. It is also SunCity’s fourth consecutive win this year.

Tan Sri Dato Seri Dr Jeffrey Cheah, AO, Founder and Chairman of the Sunway Group, in his statement to the media, said, “In many ways, the awards reiterate the Group’s commitment to fulfill and continuously exceed the expectations of key stakeholders by delivering real value. It is indeed an honor to receive these recognitions, and we dedicate it to the Sunway employees who have not only taken heed of the requirements but have strived to truly understand the spirit and purpose behind the regulations.”

He attributed the achievements also to Sunway’s forward-looking board of directors who possess the skills and mindset to create the positive momentum to drive the company forth.

“Good corporate governance has and always shall be central to Sunway’s competitiveness in a global business landscape. We believe that it is our emphasis on the highest standards of accountability, corporate governance and transparency that has ensured our smooth transitions through business cycles and it is these standards that will catalyze our future growth,”

Sunway Holdings and SunCity proposed merger will result in the merged group having a potential market capitalization of over RM 3.5 billion, with a combined land bank totaling 2,642 acres with a gross development value of projects worth RM25 billion in total.

“What, we at Sunway believe, will take us much further is, that we continue to believe and live these values. By consistently taking a longer-term view in setting our directions for the future, in an unrelenting commitment to transparency and accountability, we shall continue our progress in this nature, taking into account our stakeholders needs, who we recognize, are our partners in the creation of Sunway’s future.”