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Last updated at: (Beijing Time) Tuesday, November 11, 2003

COSCO wins award for best corporate governance

COSCO Pacific Limited was named on Tuesday as the winner of the Significant Improvement Award in acorporate governance disclosure competition organized by the Hong Kong Society of Accountants (HKSA).


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COSCO Pacific Limited was named on Tuesday as the winner of the Significant Improvement Award in acorporate governance disclosure competition organized by the Hong Kong Society of Accountants (HKSA).

It is the first time that a mainland business corporation listed on the mainboard of Hong Kong's Stock Exchange was amongst the winners in the Hong Kong's Best Corporate Governance Disclosure Awards (BCGD).

The awards aim to promote improvements in the standard of corporate governance disclosures in Hong Kong, and to give recognition to those companies or organizations that exemplify the best corporate governance in their class, according to HKSA.

CLP Holdings Ltd., although a previous awardee, was the winner of the Diamond Award in the Hang Seng Index Category for the firsttime. The other two winners in this category were HSBC Holdings Plc (Platinum Award) and for the second year, Li & Fung Ltd. (GoldAward).

In the Non-Hang Seng Index Category, Hong Kong Exchanges and Clearing Ltd., Standard Chartered PLC, and Kerry Properties Ltd. were winners of the Diamond, Platinum and Gold Awards, respectively. The annual report of Media Partners International Holdings Inc. was also considered by the jury to be worthy of mention in the Non-Hang Seng Index category.

The Hong Kong Securities and Futures Commission, Airport Authority Hong Kong, and Kowloon-Canton Railway Corporation were the Diamond, Platinum and Gold Awards winners in the category of Public Sector/Non-for-Profit Organizations.


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