KTC secures the "ASEAN CG Scorecard" award rewarded to companies with excellent corporate governance in the ASEAN region

Stocks and Financial Services Press Releases Monday January 11, 2021 08:47
Bangkok--11 Jan--Krungthai Card

"KTC" or Krungthai Card Public Company Limited, reinforces its position as an organization with excellent corporate governance by receiving the the 2020 "ASEAN CG Scorecard" award under the ASEAN Asset Class PLCs category, rewarded to registered Thai companies with an average score of 97.50 or above in the ASEAN region. Out of 135 companies, KTC is one of 42 registered Thai companies with the most accolades in the ASEAN community, as declared in the 2020 ASEAN CG Scorecard (ACGS) prize announcement ceremony held at the end of 2020. The event was sponsored by The ASEAN Capital Markets Forum (ACMF) and The Asian Development Bank (ADB) to honour and commemorate ASEAN listed companies that have undertook business that adhered to the principles of excellent corporate governance.

The evaluation criteria of ACGS have been developed from the principles of excellent corporate governance from The Organization for Economic Cooperation and Development (OECD), International Corporate Governance Network (ICGN), Asian Corporate Governance Association (ACGA), and the Code of Corporate Governance of certain countries, including Australia, England, and more. Companies that were evaluated with the ACGS standard are the top 100 companies in the ASEAN community with the highest market capitalisation value as of April 30 annually, and are required to have public information in English. The assessor is the corporate governance expert of each country. The evaluators in Thailand comprise of the Thai Institute of Directors Association (IOD), which uses a criteria divided into 5 categories: 1. Rights of Shareholders, 2. Equitable Treatment of Shareholders, 3. Role of Shareholders, 4. Disclosure of Information and Transparency, and 5. Responsibilities of the Board of Directors.

On this note, the assessment of excellent corporate governance of qualifying companies in the ASEAN region is a project partially operated under the care of The ASEAN Capital Markets Forum (ACMF), also known as ACMF Corporate Governance Initiatives. The initiative discloses the level of corporate governance quality of listed companies in the ASEAN region. It aims to promote more efficient corporate governance in the region, establish corporate governance standards and performance standards for capital market indexes to be comparable to the international level and to be recognised by international investors. Furthermore, it aims to support the liberalisation of ASEAN Economic Community. The ASEAN countries that participated in the assessment include Thailand, Malaysia, Singapore, The Philippines, Indonesia, and Vietnam.

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