Thai companies lead Asean in CG
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Thailand was ranked at the top of Asean Corporate Goverance Scorecard 2014 assessment for the third consecutive year, demonstrating growth in leaps and bounds.
Out of the total 550 participating Asean firms, two Thai firms are among TOP 5 while 24 Thai companies, up by six from 2013, are among TOP 50.
The average score of Thailand's 100 largest market capitalisation companies was at 84.53 in 2014, up sharply from 75.39 in 2013. Scores in each and every area showed improvement, particularly in Role of Stakeholders and Board Responsibilities which surged 315 and 25% respectively. List of Thailand's TOP 50 companies with highest Asean CG Scorecard can be found at www.thai-iod.com.
"This year's welcoming result reflects true commitment by Thai listed companies in developing CG practices. The IOD has noted that Thai listed companies are starting to emphasise more on substance rather than just form, especially in the areas of Role of Stakeholders and Board Responsibilities. However, they still need to develop further in the five following areas including 1) Anti-corruption 2) Whistleblowing 3) Effective implementation of business ethics 4) Review and monitor corporate strategy implementation 5) Evaluation of board performance," said Dr Bandid Nijathaworn, president and CEO of the Thai Institute of Director Association (IOD).
Rapee Sucharitakul, secretary-general of the Securities and Exchange Commission, attributed the high score to cooperation from all parties. He said that this would further promote international profile and attractiveness of the Thai capital market including its products among regional and global investors.
