Sunway Group was recognized for its excellence in practice of corporate governance at the 2011 Malaysian Business-Chartered Institute of Management Accountant (CIMA) Enterprise Governance Awards held at the Prince Hotel & Residence KL recently with a triple win. It was the only property-construction company which was recognized for corporate governance in three categories.
Sunway Group received the Merit Award for the Overall category, was runner’s up in the Green Initiative category and topped the Best Return to Shareholders category.
YB Dato’ Seri IdrisJala, Minister in the Prime Minister’s Department and also Chief Executive Officer of the Performance Management and Delivery Unit (PEMANDU) presented the awards to SarenaCheah, Executive Director of Strategy & Corporate Development, who represented the Sunway Group, at the awards ceremony.
“We are humbled to receive this prestigious honour, and for being recognized alongside other esteemed organizations for our efforts. As a corporation which has corporate social responsibility close to its heart, we will continue to uphold and improve high standards of enterprise governance,” she said.
The judges for the Award evaluated the winners based on business and corporate governance principles and best practice, including risk management and internal control, communications and adherence to regulation, strategic management and financial, as well as operational performance. The Green Initiative is a new category introduced this year.
The fourth year in running, the award recognizes the need for organizations to balance good governance with financial performance and return to shareholders. Amongst other criteria for the awards, the companies should be listed on the Main Market of Bursa Malaysia Securities for at least 10 years and not have reported losses for the past two financial years.