Petaling Jaya, 11 December 2015: Paramount Corporation Berhad (PCB) was top among the four companies that garnered the Merit Award last night by the Minority Shareholder Watchdog Group (MSWG) for Top Corporate Governance and Performance in the category of companies with a market capitalisation between RM300 million and RM1 billion.
This award put PCB at the 35th position in the top 100 companies that were ranked by MSWG.
The results were announced at MSWG’s Annual Corporate Governance Awards ceremony. The awards were given to top companies that have adhered to high standard of Corporate Governance (CG) and at the same time have continuously shown good financial performance.
These awards were given to create awareness and encourage best CG practices among public-listed companies. It rated and ranked public-listed companies on many different levels which included, amongst others, compliance with CG best practices, quality of disclosures, financial sustainability and corporate social responsibility efforts.
Speaking at the awards ceremony, PCB Group Chief Executive Officer Jeffrey Chew said, “This recognition is an important one for Paramount. We are continuously striving to improve our standards of corporate governance, to strengthen investor and market confidence in Paramount, and help us in our mission to create long-term sustainable value for all stakeholders. We are committed to adhering to the highest standards of good corporate governance in our business processes and maintaining dialogue with our stakeholders.”
The MSWG was established as a government initiative to protect the interests of minority shareholders through shareholder activism. It is one avenue of market discipline to encourage good governance amongst public listed companies with the objective of raising shareholder value over time.