23 Thai listed companies sweep ASEAN CG awards

Thai listed companies sweep ASEAN CG awards

(from right) Mr. Rapee Sucharitakul, Secretary-General of the Securities and Exchange Commission, Thailand, Mr. Sarjito, Deputy Commissioner of Indonesia Financial Services Authority, Mr. Paul Yuen, Executive Director of Market Conduct Department of Monetary Authority of Singapore, and Mr. Kelly Bird, Director of Public Management of Asian Development Bank during panel discussion at ASEAN Corporate Governance Conference and Awards held in the Philippines. At the event, 23 Thai listed companies, the highest number among ASEAN countries, were awarded in the TOP50 ASEAN companies that achieved the highest scores in the ASEAN CG scorecard. Two of the 23 were named in the TOP5 ASEAN PLCs.

November 14, 2015 – Organized by the ASEAN Capital Markets Forum (ACMF) and hosted by the Philippines Securities and Exchange Commission (SEC), leaders of the region’s leading publicly-listed companies (PLCs), capital markets regulators and governance experts converged in the Philippines to take part in the ASEAN Corporate Governance Awards held in Manila, the Philippines. These awards recognize the efforts of companies that continuously implement good corporate governance in their operations and services. A total of 23 Thai list companies were amongst the top 50 ASEAN companies that achieved the highest ASEAN CG scorecard ranking; followed by 11 companies from the Philippines, eight companies from Singapore, six companies from Malaysia, and two companies from Indonesia. More importantly, two Thai listed companies, namely, PTT Global Chemical Public Company Limited and Samart Corporation Public Company Limited, both have earned the TOP5 ASEAN PLCs Awards. The 2015 results showed that Thai listed companies have continuously ranked amongst the top 50 ASEAN companies for a fourth consecutive year. This reflects the regional leadership role that Thai listed firms have played in applying international corporate governance standards in their operation.

ASEAN CG Scorecard is a program initiated by the ASEA Capital Markets Forum and sponsored by the Securities and Exchange Commissions of each ASEAN country. The program’s purpose is to evaluate corporate governance standards of listed companies within the six ASEAN countries that include Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Since its inception in 2012, this is the first time that the names of the top 50 listed companies were publicly announced.

Dr. Bandid Nijathaworn, President and CEO of the Thai Institute of Director, as a corporate governance expert stated that “Since the program’s inception, Thai listed companies have been outstanding in consistently applying corporate governance principles in line with the ASEAN standard. This is particularly in the areas of the Rights of Shareholder and the Equitable Treatment of Shareholders. Despite the increasingly stringent evaluation criteria, Thai listed companies have consistently improved their standards and compliance in accordance with the ASEAN standard. As such, the awards earned by Thai listed companies could be considered a proud achievement for all Thai listed companies and the Thai capital market. The Thai Institute of Director wishes to congratulate all the awarded companies. The institute will continue to support Thai listed companies to further advance corporate governance practices in endeavor to enhance the development of the Thai capital markets and corporate governance practice of the Thai private sector.

Mr. Rapee Sucharitakul, Secretary-General of the Securities and Exchange Commission, Thailand, said: “We are very pleased with the success. The recent ASEAN CG Scorecard results clearly underline the leadership of Thai listed companies on their corporate governance standards which will have direct effect on investor confidence, both domestically and internationally on the Thai capital market. This major achievement for the Thai capital market as a whole was made possible by the ongoing collaboration from all parties and the determination and commitment of the Thai listed companies to enhance their own corporate governance practices in line with international standards. The SEC will continue to promote this project as it is such a vital mechanism for improving corporate governance of listed companies across the region. This in turn would help to increase brand recognition for ASEAN asset class.”

For more information, please contact:

Research and Policy Department, Thai Institute of Directors Association

Tel: 02-955-1155 Ext. 304, 306 Fax: 02-955-1156-7

ASEAN TOP 50 PLCs

(By alphabetical)

	Country	PLCs
1	Philippines	ABOITIZ EQUITY VENTURES
2	Thailand	ADVANCED INFO SERVICE PUBLIC COMPANY LIMITED
3	Philippines	AYALA CORPORATION
4	Philippines	AYALA LAND, INC.
5	Thailand	BANGKOK AVIATION FUEL SERVICES PUBLIC COMPANY LIMITED
6	Philippines	BDO UNIBANK, INC.
7	Malaysia	BURSA MALAYSIA BERHAD
8	Singapore	CAPITALAND LIMITED
9	Thailand	CENTRAL PATTANA PUBLIC COMPANY LIMITED
10	Malaysia	CIMB GROUP HOLDING BERHAD
11	Singapore	DBS GROUP HOLDINGS LTD
12	Thailand	EASTERN WATER RESOURCES DEVELOPMENT AND MANAGEMENT PUBLIC COMPANY LIMITED
13	Thailand	ELECTRICITY GENERATING PUBLIC COMPANY LIMITED
14	Philippines	GLOBE TELECOM, INC.
15	Philippines	GT CAPITAL HOLDINGS, INC.
16	Malaysia	IJM CORPORATION BERHAD
17	Thailand	INDORAMA VENTURES PUBLIC COMPANY LIMITED
18	Thailand	INTOUCH HOLDINGS PUBLIC COMPANY LIMITED
19	Thailand	IRPC PUBLIC COMPANY LIMITED
20	Thailand	KASIKORN BANK PUBLIC COMPANY LIMITED
21	Singapore	KEPPEL LAND LIMITED
22	Thailand	KRUNG THAI BANK PUBLIC COMPANY LIMITED
23	Malaysia	MALAYAN BANKING BERHAD
24	Philippines	MANILA ELECTRIC COMPANY
25	Philippines	MANILA WATER COMPANY, INC.
26	Philippines	PHILEX MINING CORPORATION
27	Philippines	PHILIPPINE LONG DISTANCE TELEPHONE COMPANY
28	Thailand	PRUKSA REAL ESTATE PUBLIC COMPANY LIMITED

	Country	PLCs
29	Indonesia	PT BANK CIMB NIAGA TBK
30	Indonesia	PT BANK DANAMON INDONESIA TBK
31	Thailand	PTT EXPLORATION AND PRODUCTION PUBLIC COMPANY LIMITED
32	Thailand	PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED
33	Thailand	PTT PUBLIC COMPANY LIMITED
34	Thailand	RATCHABURI ELECTRICITY GENERATING HOLDING PUBLIC COMPANY LIMITED
35	Malaysia	RHB CAPITAL BHD
36	Thailand	SAMART CORPORATION PUBLIC COMPANY LIMITED
37	Thailand	SAMART TELCOMS PUBLIC COMPANY LIMITED
38	Singapore	SATS LTD.
39	Singapore	SINGAPORE EXCHANGE LIMITED
40	Singapore	SINGAPORE POST LIMITED
41	Singapore	SINGAPORE PRESS HOLDINGS LIMITED
42	Singapore	SINGAPORE TELECOMMUNICATIONS LIMITED
43	Philippines	SM PRIME HOLDINGS, INC.
44	Malaysia	TELEKOM MALAYSIA BERHAD
45	Thailand	THAI OIL PUBLIC COMPANY LIMITED
46	Thailand	THAICOM PUBLIC COMPANY LIMITED
47	Thailand	THE BANGCHAK PETROLEUM PUBLIC COMPANY LIMITED
48	Thailand	THE SIAM CEMENT PUBLIC COMPANY LIMITED
49	Thailand	THE SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED
50	Thailand	TOTAL ACCESS COMMUNICATION PUBLIC COMPANY LIMITED

ASEAN TOP 5 PLCs

(By alphabetical)

	Country	PLCs
1	Malaysia	BURSA MALAYSIA BERHAD
2	Singapore	DBS GROUP HOLDINGS LTD
3	Thailand	PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED
4	Thailand	SAMART CORPORATION PUBLIC COMPANY LIMITED
5	Singapore	SINGAPORE TELECOMMUNICATIONS LIMITED