Double Wins at MSWG-ASEAN Corporate Governance Awards 2019
Sunway Berhad and Sunway Construction Group Berhad (SunCon) bagged the Industry Excellence Awards in their respective categories at the Minority Shareholders Watch Group (MSWG) ASEAN Corporate Governance Awards 2019.
The Awards recognises corporate governance best practices by Malaysian listed companies. This is testament to Sunway’s relentless efforts in upholding the highest standards in our corporate governance practices.
Recognised for our best corporate governance practices, Sunway Berhad and SunCon were named first runners-up in the Industrial Products & Services and Construction categories, respectively. Both companies also made the list of the Top 30 companies with best corporate governance disclosures out of the total 866 public listed companies (PLCs) in Malaysia assessed by MSWG in 2019.
This is the second year Sunway Berhad has won the award (2018 and 2019), while SunCon has clinched it for four consecutive years since 2016.
Prior to the win, all the three Sunway public listed companies have also retained a firm stake in the FTSE4Good Bursa Malaysia Index, demonstrating our strong Environmental, Social and Governance (ESG) best practices.
Responsible business for a sustainable future
The Awards recognises corporate governance best practices by Malaysian listed companies using the ASEAN Corporate Governance Scorecard assessment.
Initiated by the ASEAN Capital Markets Forum, and supported by the Asian Development Bank to establish a common governance framework across the region and to raise ASEAN PLCs’ profiles within the global investment community, the scorecard adopts the Organisation for Economic Co-operation and Development (OECD) Principles of Corporate Governance as its main benchmark. It covers five areas of the OECD Principles, while adopting two-level scoring to better capture the actual implementation of good corporate governance.
“At Sunway, corporate governance goes beyond regulations and compliance. We view it as the foundation for sustained competitive advantage that strengthens our business as well as management of sustainability-related risks. It is how we continue to deliver exceptional value to our stakeholders. We are honoured to have received the award and would like to express our gratitude to MSWG for the recognition,” said Sunway Berhad president Tan Sri Dato’ Chew Chee Kin.
Sunway Construction Group managing director Chung Soo Kiong added, “SunCon continues to uphold high standards of transparency, accountability and integrity in managing our Group’s business, as evident in our fourth consecutive year of winning since our listing in 2015. We remain committed to effectively managing risks and providing clear leadership and vision to our people in the pursuit of service excellence for our clients.”