PETALING JAYA: Paramount Corp Bhd has bagged the “Industry Excellence Award -Property” in the Minority Shareholders Watch Group (MSWG)-Asean Corporate Governance Scorecard Award 2020.
The group also won the “Excellence Award for Corporate Governance Disclosure -Market Cap above RM300mil to below RMlbil”.
In addition to these awards, Paramount said it is ranked 13th among the top 100 public-listed companies (PLCs) that were ranked by MSWG for corporate governance disclosure in 2020.
According to Paramount chief executive officer Jeffrey Chew, it was a “fantastic achievement” for a company of its size to be ranked 13th out of 100 PLCs.
“This is yet another enduring legacy of our late chairman, Datuk Teo Chiang Quan, who was the driving force behind Paramount’s unwavering stance on good corporate governance. Together with the board of directors, he emphasised on the importance of building Paramount on a foundation of integrity and trust.
“He also believed that a strong corporate governance framework and culture translates to a strong company that delivers for all its stakeholders,” he said.
Moving forward, Chew added that the group will continue to build on Teo’s legacy. Paramount remains committed to improving on its corporate governance standards, adopting best practices and providing good disclosures for greater transparency to its stakeholders, he said.
For 2020, out of a total of 851 PLCs assessed, MSWG has awarded 52 trophies to 38 PLCs. The winners were assessed using the Asean Corporate Governance Scorecard and winners were determined by the adjudication committee, which comprised representatives from professional bodies, corporate governance experts, academicians, investment professionals and those familiar with the Malaysian equity market.
As published: The Star