Former SFC Chairman Dr. Eddy Fong to Chair Judging Panel
HONG KONG, June 17, 2013 /PRNewswire/ -- The Hong Kong Corporate Governance Excellence Awards 2013, jointly organized by The Chamber of Hong Kong Listed Companies ("CHKLC") and the Centre for Corporate Governance and Financial Policy ("CCGFP") of Hong Kong Baptist University is open for nomination starting today (June 17) till September 23, 2013.
The Awards programme recognizes companies that exhibit a holistic approach to corporate governance and business ethics. The Awards has two award types: Corporate Governance Excellence and Sustainability Excellence. Nominations are open to all companies listed on the Main Board and GEM Board of the HKEx.
The Sustainability Excellence Awards created last year received favourable response with a number of leading Hong Kong and mainland companies taking the award home. To continue to recognize companies that implement business and operational practices that honour the social, environmental and stakeholders' needs and well-being, the Awards will continue to be given out this year.
"Corporate governance is the cornerstone of a market. It underlies fairness, integrity, transparency and accountability, all of which are crucial drawing points for companies and investors. This Awards Programme is a great means to encourage companies to adopt the best corporate governance measures, showcase success and further strengthen the governance culture of Hong Kong. The Chamber is pleased to be organising the Awards and make contribution to the continual improvement of the quality of our market," said Dr. K. S. Lo, Chairman of the CHKLC.
The seventh year it is held, the Awards has gained solid reputation, attracting higher participation every year. Its success and credibility can be attributed to the stringent selection process and the high caliber of the judging panel.
From this year, Dr. Eddy Fong, GBS, JP, former Chairman of Securities and Futures Commission of Hong Kong and Council Chairman of the Open University of Hong Kong, will become the chairman of the judging panel, taking over from Dr. Anthony Neoh who has served in the position for the past six years.
"The fact that our Judging Panel enjoys the support and leadership of two former Hong Kong SFC Chairmen speaks volumes of the standing and quality of our Awards," Dr. Lo said.
"The level of corporate governance is an important yardstick of the sophistication of a market, and I support means and efforts that would help create a strong culture for it. I am pleased to be part of the long established ‘Hong Kong Corporate Governance Excellence Awards’ and continue my endeavours of upkeeping our market quality," said Dr. Fong.
Other members of the judging panel are distinguished experts from the fields of regulation, financial, investment, accounting, legal and academia. They will choose the winners using a model of eight key corporate governance and sustainability aspects respectively, developed by the CCGFP. Special attention will be given to companies that demonstrate innovation and significant improvements in corporate governance and/or sustainability made over the past three years; efforts made to internalize and pursue the highest principles of corporate governance and/or sustainability over-and-beyond compliance with requirements; and the ability to show positive business impact of the corporate governance and/or sustainability spirit and practices.
Companies are also encouraged to demonstrate their efforts in adhering to or exceeding the latest rules and regulations governing listed companies and directors, such as Board Diversity and ESG Reporting.
Companies listed on the HKEx are invited to participate in the Corporate Governance Excellence Awards under three categories: Constituents of Hang Seng Index, Constituents of Hang Seng Composite Index, Other Main Board and GEM Board companies. An overall winner may be selected from winners of these three categories. Companies can also enter for the Sustainability Excellence Awards at the same time or independently.
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The Chamber of Hong Kong Listed Companies
About the Chamber of Hong Kong Listed Companies
Incorporated in September 2002, CHKLC is a non-profit organization serving listed companies in Hong Kong. The Chamber strives to promote sound corporate governance, function as an effective communication channel between listed companies and regulatory authorities, strengthen the commercial linkage and foster co-operation among listed companies from Hong Kong and mainland China and uphold Hong Kong's position as an international trade, commercial and financial centre. Since 2007, the Chamber organises the annual "Hong Kong Corporate Governance Excellence Awards" jointly with the Hong Kong Baptist University to advocate best practices of corporate governance and recognize excellence, and from 2008 organises the annual "Listed Companies Conference" to provide a forum of discussion of stock market issues on a regular basis, with the 2012 event having been held in Shanghai.
About the Centre for Corporate Governance & Financial Policy of Hong Kong Baptist University
The Centre aspires to be a "Centre of Excellence" on corporate governance in the region. It promotes quality policy and academic research on corporate governance and related financial policy issues covering Hong Kong, mainland China and the Asia-Pacific economies, with the aim to improve the quality of corporate governance practices. Additionally, the Centre provides professional executive education activities to disseminate knowledge and advance the highest ideals of responsible business leadership. Through consultancy projects, the Centre also assists organizations to design, improve and assess their corporate governance systems and structures.
Notes to Editors:
About the Hong Kong Corporate Governance Excellence Awards 2013
The Hong Kong Corporate Governance Excellence Awards are conferred annually since 2007 by the Chamber of Hong Kong Listed Companies and the Centre for Corporate Governance and Financial Policy, Hong Kong Baptist University and are designed to promote and award excellence in corporate governance (CG) of listed companies in Hong Kong. The Awards Programme provides recognition and prestige for listed companies in achieving outstanding commitments to shareholder rights, compliance, integrity, fairness, responsibility, accountability, transparency, board independence & leadership, and corporate social responsibility.
There are 3 award categories, namely the Hang Seng Index Constituent Companies; Hang Seng Composite Index Constituent Companies and other Main Board & GEM Board Companies. In addition to other special prizes/honorable mentions, an overall winner may be selected from amongst the winners.
Starting from 2012, the Awards Programme is expanded to include sustainability performance by the creation of the Sustainability Excellence Awards, which give recognition and prestige for listed companies in achieving outstanding commitments to the well-being of the society and their employees, protection of the environment and charitable endeavours.
This year, the judging panel includes: Dr. Eddy Fong, GBS, JP, former Chairman of SFC and Chairman of Council, the Open University of Hong Kong, Professor Stephen Cheung, Dean, School of Business and Professor (Chair) of Finance at the Hong Kong Baptist University, Mr. Alec Tsui, Chairman of WAG Worldsec Corporate Finance Limited and former Chief Executive Officer of the Stock Exchange of Hong Kong, Dr. Au King Lun, CEO of BOCHK Asset Management Limited and former Chairman of Hong Kong Investment Funds Association, Mr. Philip Tsai, Partner of Deloitte Touche Tohmatsu and former President of the Hong Kong Institute of Certified Public Accountants, and Mr. Cheung Yuk Tong, Partner of Baker & McKenzie, and Mr. Albert Ng, Chairman, China and Managing Partner, Greater China of Ernst & Young.
The Awards Programme is sponsored by BDO as Bronze Sponsor and supported by the Financial Services and the Treasury Bureau, Securities and Futures Commission, Hong Kong Exchanges and Clearing Limited, HKICPA, the Hong Kong Chinese Enterprises Association, and the Hong Kong Investment Funds Association. Hong Kong Economic Times is Sole Chinese Newspaper Sponsor of the event; Metro Finance is Exclusive Radio Partner; QuamIR, irasia.com and TodayIR are Online Media Partners and finance.qq.com is Exclusive Mainland Online Media Partner, Wealth World Channel is Mainland Television Partner, and PR Newswire as Regional News Distribution Partner.
Any Hong Kong listed companies can self-nominate or be nominated for the Awards. Entry forms can be downloaded from www.chklc.org. Results of the awards will be announced at the prize presentation gala dinner to be held in early December 2013.
The Chamber of Hong Kong Listed Companies
Room 3710, 37/F, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong
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