Listed firms’ overall CGR score hits seven-year high
The 2017 CGR (corporate governance report) findings on 620 listed companies, conducted by the Thai Institute of Directors (IOD) with support from the Stock Exchange of Thailand, showed a “very good” result at 80 per cent, marking the highest level since 2010 and up from 78 per cent last year.
The improvement in the overall result derives mainly from two key categories – board responsibilities and the role of stakeholders – demonstrating a stronger board leadership in governing significant issues and an emphasis on all stakeholders playing their part to ensure sustainable growth.
Thai listed companies showed improvement in corporate-governance practices, with the average score shifting up to “very good” from “good”, Bandid Nijathaworn, president and chief executive officer of the IOD, said at the “Corporate Governance Report of Thai Listed Companies (CGR) 2017” seminar on Tuesday.
Average scores of Thai listed firms breached 70 per cent in all categories, including Rights of Shareholders (93 per cent), Equitable Treatment of Shareholders (92 per cent), Disclosure and Transparency (84 per cent) and Role of Stakeholders (78 per cent).
This was also the first year that the Board Responsibilities category made the “good” level, at 71 per cent.
Based on the recognition level of the National Committee on Corporate Governance, 507 companies achieved scores of 70 per cent ( the “good” level) or higher this year.
Specifically, 110 companies (18 per cent of the total) scored 90 per cent or above (rated as “excellent”), while 226 companies (36 per cent) had average scores ranging from 80-89 per cent (“very good”), and 171 (28 per cent) scored 70-79 per cent (“good”).
