Newsroom
14 Oct 2020
The Malaysian Reserve : AmBank bags 3 MSWG awards
 
AmBank bags 3 MSWG awards
 

by NUR HANANI AZMAN / pic by MUHD AMIN NAHARUL

AMBANK Bhd has been recognised for maintaining good corporate governance practices, policies and disclosures when it walked away with three awards at the Minority Shareholders Watch Group (MSWG)-Asean Corporate Governance Awards 2019 recently.

They were the Excellence Award for Overall CG (corporate governance) and Performance; Excellence Award for CG Disclosure; and Industry Excellence Award — under the financial services category.

The 2019 CG assessment was conducted based on public-listed companies’ (PLCs) latest annual reports, CG reports and sustainability reports published before July 31, 2019.

Other sources of information include corporate websites, public announcements on Bursa Malaysia, and other publicly available information such as media and analysts’ reports.

AmBank Group chairman Tan Sri Azman Hashim said it was an honour to be recognised with these prestigious accolades.

Meanwhile, its group CEO Datuk Sulaiman Mohd Tahir (picture) said this recognition is a testament to AmBank’s dedication in upholding corporate governance standards and compliance.

“All this while we continue to embody the high values of accountability, integrity, transparency and governance in our business operations,” he added.

Last year marked the eighth year that the MSWG had undertaken the corporate governance assessment project to assess all Malaysian PLCs, excluding companies listed on the LEAP Market, PN17 and GN3 companies, using the Asean CG Scorecard methodology.

According to MSWG, in total, 866 PLCs were assessed.

The Asean CG Scorecard adopts the OECD Principles of Corporate Governance as the main benchmark that covers five areas which are Rights of Shareholders; Equitable Treatment of Shareholders; Role of Stakeholders; Disclosure and Transparency; and Responsibilities of the Board.

For 2019, 47 trophies were awarded to 35 PLCs.

“Due to the current Covid-19 pandemic, there will be no physical award presentation ceremony like in previous years,” MSWG said in a recent statement.