HONG KONG, June 19, 2019 /PRNewswire/ -- The Hong Kong Corporate Governance Excellence Awards 2019, 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 nominations starting June 17 until August 30, 2019.
"As Hong Kong's economy faces a tumultuous time ahead as a result of the Sino-US trade situation, companies need to brace themselves for a more challenging operating environment. This is the time when good corporate governance is called for," said Mr. K.L. Wong, Chairman of the CHKLC.
"As the recently elected chairman of the Chamber, I am pleased to see that the Chamber has been championing corporate governance. My decades of investment banking experience tells me good corporate governance is the cornerstone of success of every company. It is reflected in strong board leadership, robust risk management, solid internal control and high transparency and accountability. These are essential elements that will shield the company from market challenges, protect profitability and gain investor confidence, all of which are especially important at challenging market times such as now," added Mr. Wong.
"By giving recognition to companies leading in corporate governance performance, and showcasing their business success, our awards programme aims to encourage more companies to adopt a high standard of corporate governance and promote a pervasive culture," concluded Mr. Leung.
The Hong Kong Corporate Governance Excellence Awards recognizes companies that exhibit a holistic approach to corporate governance and sustainability and demonstrate excellent achievements. Nominations for the Awards are open to all companies listed on the Main Board and GEM Board of the Stock Exchange of Hong Kong.
Commenting on the focus of this year's award judging, Mr. Philip Tsai, Chairman of Deloitte China and Chairman of the Judging Panel said: "Responsible investing has become a growing investment trend, institutional investors around the world are paying stronger attention to sustainability and ethical issues of the companies they invest in. Companies need to step up their efforts in these areas in order to capture such investment capital and gain investor goodwill."
"Hong Kong companies have always maintained a high corporate governance standard. This year, upon this strong foundation, I expect candidate companies to demonstrate more of their efforts in driving Environmental, Social and Governance and sustainability and how they integrate them in their overall corporate governance strategies, in response to stronger investor demands."
The Hong Kong Corporate Governance Excellence Awards has five award categories: 1). Hang Seng Index Constituents Companies, 2). Hang Seng Composite Index Constituents Companies, 3). Hang Seng China (Hong Kong-listed)100 Index Constituents Companies, 4). Others and GEM Board Companies, and 5). Newly-listed Companies, being companies having been listed on the Stock Exchange of Hong Kong within three years prior to the year of nomination and have published at least two annual reports.
As part of the overall assessment in giving Corporate Governance Excellence Awards, the Judging Panel would consider giving an award on Sustainability Excellence to companies whose performance and achievements in sustainability measures achieve an excellent standard. No separate submission is required.
The panel of judges will select 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 last 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.
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 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.
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, 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 2019
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 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 and leadership, and corporate social responsibility.
The Awards Programme is 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; Quamnet, irasia.com, Wisdom IR and Moebius Asia are Online Media Partners; Bloomberg Businessweek/Chinese Edition as Print Media Partner; and PR Newswire as Regional News Release Distribution Partner.
For press enquiries, please contact:
The Chamber of Hong Kong Listed Companies
Amy Leung
Tel: +(852)2970-0886
Email: amyleung@chklc.org
The Chamber of Hong Kong Listed Companies
Room 3710, 37/F, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong
Tel: +(852)2970-0886
Fax: +(852)2970-0555
Email: info@chklc.org
Website: www.chklc.org
