Implementing good corporate governance ensures organisations conduct their business in a fair and ethical manner, considering the interests of all its stakeholders to achieve long-term and sustainable growth.
The focus on establishing strong corporate governance frameworks has intensified in the face of changing capital markets and megatrends, such as climate shifts and pressures, digitalisation and population change.
In Australia, new regulatory guidelines established by the Australian Securities and Investments Commission (ASIC) aim to drive accountability and corporate governance standards across the country. ASIC’s supervisory initiative – the Corporate Governance Task Force – was established to ‘conduct targeted reviews into corporate governance practices of large listed entities to gain an insight on actual governance practices’ and its first report focusses on director oversight of non-financial risk. The report highlights the standard the corporate regulator expects from organisations when governing for non-financial risks, such as conduct, operational, compliance and strategic risks.
‘The focus on establishing strong corporate governance frameworks has intensified in the face of changing capital markets and megatrends
Based on the work of the Taskforce, ASIC will also release a follow-up report later this year that will deal directly with the relationship between conduct risk management and executive variable remuneration.
In Japan, the push for improved corporate governance has seen organisations under pressure to align their management goals of hitting financial targets with their responsibilities towards industry analysts, years of corporate governance reforms by the Japanese government may finally be resulting in improvements, with companies more eager to return money to shareholders, and activism more acceptable to conservative investors. Japanese focus on governance in recent years has elevated the status of shareholders, putting shareholder interests higher than they have been in the past.
In Malaysia, the government believes that a culture of integrity and ethics is central to good governance and that it must be put into practice in every aspect of a company’s operations. This year, Malaysia’s Securities Commission issued its inaugural Corporate Governance Monitor, revealing that 70 per cent or 841 of listed companies have adopted the 27 best practices listed in the Malaysia Code on Corporate Governance. Malaysia’s Finance Minister Lim Guan Eng has called upon the nation’s corporate leaders and captains of industry to set a tone of anti-corruption and integrity at the top level to ensure good governance in their respective organisations.
Ethical Boardroom is proud to announce the winners of “Best Corporate Governance” in their respective industry sectors across Asia & Australasia for 2019. The awards recognise the outstanding leadership from boards who have raised the bar to ensure that strong corporate governance plays an essential part in protecting and enhancing long-term value for all stakeholders. Our awards program is a vital part of our continuing mission to elevate corporate governance standards globally.
For those who have made it to the top of the mountain for 2019, we salute you for leading the way
|Best Corporate Governance||Financial Services||HDFC Limited|
|Best Corporate Governance||Conglomerate||Keppel Corporation|
|Best Corporate Governance||Leisure & Hospitality||The Indian Hotels Company Ltd (IHCL)|
|Best Corporate Governance||Telecoms||Globe Telecom|
|Best Corporate Governance||Food & Beverage||Nestle Malaysia|
|Best Corporate Governance||Construction||Sunway Construction Group|
|Best Corporate Governance||Airlines||Singapore Airlines|
|Best Corporate Governance||IT Services||Tata Consultancy Services (TCS)|
|Best Corporate Governance||Insurance||AIA Group|
|Best Corporate Governance||Holding||Ayala Corporation|
|Best Corporate Governance||Real Estate Investment Trust (REIT’s)||CapitaLand Commercial Trust|
|Best Corporate Governance||FMCG||Dabur Limited|
ASIA INDIVIDUAL AWARD WINNERS
|Best CEO – Leisure & Hospitality||Mr. Puneet Chhatwal||The Indian Hotels Company Ltd (IHCL)|
|Best CEO – Food & Beverage||Mr. Juan Aranols||Nestle Malaysia|
|Best Company Secretary – Leisure & Hospitality||Mr. Beejal Desai||The Indian Hotels Company Ltd (IHCL)|
|Best CEO – Airlines||Mr. Goh Choon Phong||Singapore Airlines|
|Best Corporate Governance||Electric Power Generation||Meridian Energy Limited|
|Best Corporate Governance||Mining||BHP|
|Best Corporate Governance||Insurance||Insurance Australia Group Limited (IAG)|
|Best Corporate Governance||Transportation & Logistics||Brambles|
|Best Corporate Governance||Telecoms||Telstra Corporation Limited|
|Best Corporate Governance||Construction||Lendlease Group|
|Best Corporate Governance||Real Estate Investment Trust (REIT’s)||Kiwi Property Group|
|Best Corporate Governance||Food & Beverage||The a2 Milk Company|
|Best Corporate Governance||Retail||Woolworths Supermarkets|
|Best Corporate Governance||Biotechnology||CSL Limited|
AUSTRALASIA INDIVIDUAL AWARD WINNERS
|Best CEO – Biotechnology||Mr. Paul Perreault||CSL Limited|
|Best Company Secretary – Telecoms||Ms Sue Laver||Telstra Corporation Limited|
|Best CEO – Construction||Mr. Steve McCann||Lendlease Group|
|Best Company Secretary – Transportation & Logistics||Mr. Robert Gerrard||Brambles|