HONG KONG, Nov. 21, 2012 /PRNewswire/ -- ARA Asset Management (Prosperity) Limited, manager of Prosperity Real Estate Investment Trust ("Prosperity REIT") [SEHK: 808], is pleased to announce that its Board of Directors ("The Board") has won the Directors Of The Year Awards 2012 in the category of "Listed Companies (SEHK - Non Hang Seng Index Constituents) Boards".
Presented by The Hong Kong Institute of Directors ("HKIoD"), the Directors Of The Year Awards were first launched in 2001 with the aim of recognizing outstanding boards and directors, and promoting the significance of good corporate governance and director professionalism. The awards are now regarded as a highly prestigious event in the corporate community. This year, the awards ceremony took place at the HKIoD 15th Anniversary Dinner on 20 November 2012.
Strong corporate governance has always been the cornerstone of Prosperity REIT's business success. The values of transparency, accountability, sound internal control and risk management system are deeply rooted in The Board, and have guided us in the interaction with stakeholders. The Directors Of The Year Awards 2012 not only recognizes The Board's achievements in demonstrating high standards in corporate governance, but is also a gauge of the invaluable confidence given by our stakeholders.
The Board maintains its competence in the dynamic market condition by keeping abreast of the latest industry trend and regulation changes, and ultimately upholds the best corporate governance practices. The Panel of Judges applauded The Board for its "dedicated effort in environmental protection and social responsibilities", two areas that we integrate into our business operations for the benefits of the society.
Receiving the awards on behalf of The Board, Dr. Chiu Kwok Hung, Justin, Chairman and Non-executive Director of The Board, said, "We are honored to be recognized for our corporate governance practices by an authoritative institution. We believe that business ethics is crucial for earning trust from stakeholders and building a sustainable business. This award is an inspiration for us to continue pursuing excellence in this important area. The process of applying to and finally winning the award is an invaluable experience for us, and we would like to thank the HKIoD for their appreciation of the hard work and commitment put in by all of our board members."
About Prosperity REIT
Prosperity REIT (Stock Code: 808) is a Hong Kong collective investment scheme authorized under section 104 of the Securities and Futures Ordinance (Chapter 571 of Laws of Hong Kong). Prosperity REIT owns a diverse portfolio of seven commercial properties in the decentralized business districts of Hong Kong, comprising all, or a portion of, three Grade A office buildings, three industrial/office buildings and one industrial building. The total gross rentable area is 1,215,579 sq. ft., with a total of 407 car park spaces.
About ARA Asset Management (Prosperity) Limited, the REIT Manager
Prosperity REIT is managed by ARA Asset Management (Prosperity) Limited, a wholly-owned subsidiary of ARA Asset Management Limited, which is listed on the Main Board of the Singapore Exchange Securities Trading Limited.
Disclaimer
The information contained in this press release does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for units in Prosperity REIT in Hong Kong or any other jurisdiction.
