MSWG RECOGNISES TM FOR ITS CORPORATE GOVERNANCE STANDARDS
Telekom Malaysia Berhad (TM) today received the Corporate Governance Survey 2004 Award from the Minority Shareholder Watchdog Group (MSWG) for its high level of compliance to the local and international corporate governance requirements.
TM was ranked second among the top 100 companies listed on Bursa Malaysia from a study jointly conducted by MSWG and Nottingham University Business School (NUBS), a leading business school in the UK. This survey is part of MSWG-NUBS’s drive to promote best principles and practices of corporate governance and shareholder activism in Malaysia.
Speaking after receiving the award, Tan Sri Dato’ Ir. Md Radzi Mansor, Chairman of TM said : “We are delighted to be the runner-up in the Corporate Governance Survey 2004 Award. It is a recognition of our commitment in realizing investor and shareholder value. TM will continue to comply and uphold high principles and best practices of corporate governance to safeguard the best interests of our shareholders and other stakeholders. This is only natural and should be an integral process for any public listed entity such as ours.”
After presenting the award to Tan Sri Radzi, Tan Sri Abdul Halim Ali, Chairman of MSWG said : “The survey shows a ranking, from 1 to 100 with an “Overall Weighted Corporate Governance Score” for each company. The “Overall Weighted Corporate Governance Score” (CG Score) comprises a Basic Compliance Score and International Best Practices Score. TM scored high on both the scores, scoring 39 out of 40 and 21 out of 35 respectively, with an Overall Weighted Corporate Governance Score of 79%. TM is a model GLC as reflected by its commitment through high level conformance with and extensive disclosure thereof Corporate Governance policies and practices.”
In the sectoral comparison, TM came out top in the trading/services sector for the second consecutive time. A similar survey was also undertaken in 2003. The companies in the study were surveyed on a total of 75 key items, where 40 key items reflect the principles and best practices enjoined by the Malaysian Code on Corporate Governance and Bursa Malaysia Listing Rules and the remaining 35 key items reflect selected international best practices, covering board structure and processes, composition of the board, structure and process of the audit committee, code of conduct/ethics, independence of board and board committees, external auditor independence, among others.
This has been a month of accolades for TM, having received three awards by Frost & Sullivan namely 2006 Data Communications Service Provider of the Year award 2006 Broadband Service Provider of the Year award, 2006 Service Provider of The Year and the Platinum Trusted Brand Award 2006 by Reader’s Digest under the Telecom Company category earlier this month.
About TM
Telekom Malaysia Berhad (TM), a leading regional information and communications group, offers a comprehensive range of communication services and solutions in fixed-line, mobile, data and broadband. As one of the largest listed companies in Bursa Malaysia with an operating revenue of more than RM13 billion, TM is driven to deliver value to its stakeholders in a highly competitive environment.
The Group places emphasis on continuing customer service quality enhancements and innovations. Currently, with investments and operations in 12 countries around Asia and globally, TM is focused on sustainable growth in both the local and international markets.
For further information on TM, visit www.tm.com.my.
>> Click
here for Bahasa Malaysia version |
