FRIDAY, March 29, 2024
nationthailand

Thai listed companies 'more responsible', CGR report shows

Thai listed companies 'more responsible', CGR report shows

The 2018 Corporate Governance Report of Thai Listed Companies (CGR), conducted by the Thai Institute of Directors (IOD) with support from the Stock Exchange of Thailand (SET), showed a ‘very good’ result and marked a historical high at 81 per cent.

The outcome demonstrated that Thai listed firms became more responsible to stakeholders while seeking to achieve sustainable growth in alignment with the global corporate governance trend.
The 2018 CGR assessment of 657 listed companies resulted in an average score of 81 per cent, the highest level since the commencement of CGR project in 2001, and up from 80 per cent in 2017 (620 companies), reflecting improvement in most key categories, IOD Chairman Prasan Chuaphanich said at the 2018 CGR seminar on Friday.
The average scores of Thai listed firms exceeded 80 per cent in four categories, including Rights of Shareholders (94 per cent), Equitable Treatment of Shareholders (92 per cent), Disclosure and Transparency (85 per cent), and Role of Stakeholders (80 per cent).
Based on the 2018 findings, 557 companies achieved scores of 70 per cent (three star) or higher. Some 174 companies (26 per cent) scored 70-79 per cent (three star), 241 companies (37 per cent) had average scores ranging 80-89 per cent (four star) while 142 companies (22 per cent ) scored over 90 per cent (five star).
“The result depicted commitment of Thai listed firms, regardless of their sizes, in continuous development of CG standards. Most companies emphasised on business growth alongside interests of other stakeholders, which is in accordance with international CG trend that has shifted from shareholder-centric to stakeholders-centric approaches,” said Prasan.

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