Solid Corporate Governance Safeguards Hong Kong Listed Companies, Says CHKLC Chairman

HONG KONG,Dec.17,2019 -- Solid corporate governance is the bedrock of a company's growth and development and essential in creating long-term value,says Mr. K.L. Wong,Chairman of the Chamber of Hong Kong Listed Companies (CHKLC).

"Hong Kong listed companies need to demonstrate board leadership that is stronger than ever and install solid corporate governance systems and practices to strengthen controls,steer away from risks,increase transparency,and raise accountability and responsibility. Only with extreme diligence and vigilance can board directors guide the company out of the current adversity and continue to win the confidence of shareholders and other stakeholders," Mr. Wong said.

CHKLC is a strong advocate of corporate governance. Since 2007,it organizes the annual Hong Kong Corporate Governance Excellence Awards jointly with the Centre for Corporate Governance and Financial Policy. The awards programme aims to encourage Hong Kong listed companies to adopt corporate governance principles and measures over and beyond requirements and to promote a solid corporate governance culture in Hong Kong.

Commenting on the results of the 2019 iteration of the Awards,Mr. Philip Tsai,Chairman of the Judging Panel remarked that "Hong Kong listed companies show consistent improvements in their board leadership by having more qualified independent directors and improving diversification. Companies also adopt conscientious approach in sustainability across product development,supply chain management,environment protection and employee empowerment."

"Although winning companies' approach and emphasis on governance may differ based on their company history,industry background,regulatory landscape and risk profile,they all conduct themselves according to the highest governance principles and observe their utmost responsibilities to stakeholders," he said.

Mr. Tsai observed that in sustainability,the winners fulfil their duties in minimizing their impact on the environment,balancing their business objectives and the needs of stakeholders,and in promoting welfare of the less privileged where they operate in developing countries.

"Our winners empower their employees or workers to seek personal growth and give back to the community,a humane spirit that is most impressive," he added.

The winners of the 2019 Hong Kong Corporate Governance Awards are Industrial and Commercial Bank of China Limited in the Category for Hang Seng Index Constituent Companies; CGN New Energy Holdings Co.,Ltd. in the Category for Hang Seng Composite Index Constituent Companies; Crystal International Group Limited in the Category for Newly-listed Companies. In the Sustainability Awards section,the winners are Champion REIT,Crystal International Group Limited and Li & Fung Limited. Lifestyle International Holdings Limited received an Honourable Mention.

At that Awards Presentation Gala Dinner held tonight,the CHKLC invited Dr XU Bingi,Co-founder and Board Secretary of SenseTime,the world's largest AI (artificial intelligence) unicorn valued at over US$7.5 billion,to share with the attending government officials,regulators and listed company executives the latest trends and applications of AI and facial recognition technologies and how Hong Kong can become the capital formation centre for New Technology companies and catalyst for further growth.

Notes to Editors:

About the Hong Kong Corporate Governance Excellence Awards

"The Hong Kong Corporate Governance Excellence Awards" are conferred annually since 2007 by the Chamber of Hong Kong Listed Companies and the Centre for Corporate Governance and Financial Policy,Hong Kong Baptist University.

The Awards aim to foster the highest standards in corporate governance,business ethics and board leadership in Hong Kong; recognize excellence; showcase best practices and accomplishments,and thereby promote a strong corporate governance culture.

The Award provides recognition and prestige for listed companies in achieving outstanding commitment to shareholder rights,compliance,integrity,fairness,responsibility,accountability,transparency,board independence & leadership,and corporate social responsibility.

The Hong Kong Corporate Governance Excellence Awards 2019 is supported by China Tonghai International Financial Limited as Gold Sponsor and BDO Limited as Bronze Sponsor. In addition,Hong Kong Economic Times is Sole Chinese Media Sponsor; Metro Finance is Exclusive Radio Partner,PR Newswire is Regional News Distribution Partner; Quamnet,irasia.com,Moebius Asia,Wisdom Investor Relations and Finet are Online Media Partners,and the Chinese Edition of Bloomberg Businessweek is Print Media Partner.

For details of the Awards Programme and members of the Judging Panel,please visit www.chklc.org.

About the Chamber of Hong Kong Listed Companies

Incorporated in September 2002,CHKLC is a non-profit organisation serving listed companies in Hong Kong. The Chamber strives to promote sound corporate governance,function as an effective communication channel between listed companies and regulatory authorities,strengthen the commercial linkage and foster co-operation among listed companies from Hong Kong and China and uphold Hong Kong's position as an international trade,commercial and financial centre. Since 2007,the Chamber organises the annual Hong Kong Corporate Governance Excellence Awards jointly with the Hong Kong Baptist University to advocate best practices of corporate governance and recognise excellence,and in 2008 and 2009 organised the Listed Companies Conference to provide a forum of discussion of stock market issues on a regular basis. This event was held in Shanghai and Shenzhen in 2012 and 2014,respectively.

About the Centre for Corporate Governance & Financial Policy of Hong Kong Baptist University

The Centre aspires to be a Centre of Excellence on corporate governance in the region. It promotes quality policy and academic research on corporate governance and related financial policy issues covering Hong Kong,Mainland China and the Asia-Pacific economies,with the aim to improve the quality of corporate governance practices. Additionally,the Centre provides professional executive education activities to disseminate knowledge and advance the highest ideals of responsible business leadership. Through consultancy projects,the Centre also assists organisations to design,improve and assess their corporate governance systems and structures.