Winners at SCA 2013
Companies with $1 billion and above in market capitalisation
|| Sembcorp Marine Ltd
|| Keppel Corporation Ltd
|| Singapore Technologies Engineering Ltd
Companies with $300 million to less than $1 billion in market capitalisation
|| Keppel Telecommunications and Transportation Ltd
|| Del Monte Pacific Ltd
|| SBS Transit Ltd
Companies with less than $300 million in market capitalisation
|| OKP Holdings Ltd
|| MegaChem Ltd
||Baker Technology Ltd
REITS & Business Trusts
|| Keppel REIT
|| Capitacommercial Trust
|| Perennial China Retail Trust
||Ascott Residence Trust
First-Year Listed Companies
||Mapletree Commercial Trust
||Bumitama Agri Ltd
||Ley Choon Group Holdings Ltd
Objectives of the Award
- To encourage excellent financial reporting presentation and a wider scope of disclosures beyond the minimum regulatory requirements that are in tandem with the needs of investors and other stakeholders such as employees, creditors and the general public;
- The Best Annual Report Award was introduced to increase awareness, through the encouragement of social responsibility reporting that businesses and organisations are responsible to the community both as employers and corporate citizens;
- The Best Annual Report Award also gives recognition to maiden annual reports of First-Year Listed companies that show an excellent standard of disclosure. The Committee hopes that this will encourage First-Year Listed companies to raise the standard of their annual report disclosures;
- The Best Annual Report Award introduced a marking category for Real Estate
Investment Trusts (REITS) and business trusts with effect from 2009.
Categories of the Award
The Award will be presented for the following categories of companies (as at December 31, 2013):
- Listed companies with market capitalisation of S$1 billion and above;
- Listed companies with market capitalisation of S$300 million to less than S$1 billion;
- Listed companies with market capitalisation of less than S$300 million;
- First-Year Listed companies;
- REITS & Business Trusts.
For each of the above categories, the following awards will be presented:
- Best Annual Report Award - Gold;
- Best Annual Report Award - Silver;
- Best Annual Report Award - Bronze.
Preliminary Screening Criteria
The annual reports are first screened for the presence of the following information:
- Commentary on business-specific measures of performance;
- Financial highlights commentary;
- Discussion on corporate liquidity or capital management;
- Commentary on first half against second half results for both financial years presented;
- Disclosure on productivity and performance measures;
- Disclosure of group and strategic directions (clear articulation of vision, mission statement, goals and objectives);
- Earnings prospects by division and territory (For single industry and single territory companies, 1 point is awarded if commentary on industry or territory are provided);
- Discussion of key business risks and risk management strategies;
- Presence of sensitivity analysis or Value-at-Risk (VAR) analysis;
- Information on management - CVs of other key management not on the Board;
- Remuneration of directors disclosed in dollar amounts;
- Remuneration of key management personnel disclosed in dollar amount and not in bands;
- Investor/shareholder relations activities;
- Disclosure on sustainability policy;
- Commentary on environment sustainability, community and social responsibility;
- Disclosure on measures tracking environment sustainability performance and social performance.
Detailed Marking Criteria
Review of Results (RR)
- Analysis and commentary on historical results (i.e. quarterly, half-yearly, 5-year trend, segment analysis);
- Benchmarking made against competitors' and industry's performance;
- Use of value-adding and productivity ratios;
- Use and analysis of other key performance indicators (i.e. leading/lagging, financial/non-financial, quantitative/qualitative).
Vision and Strategic Issues (VSI)
- Articulation of corporate vision/mission, strategic goals, strategy and business environment;
- Presentation of group structure and business segment;
- Discussion of corporate/industry developments and strategic issues.
Business Plan and Prospects (BPP)
- Articulation of business plan, initiatives and planned capital investments;
- Discussion of company's outlook and future prospects.
Risk Assessment and Management (RAM)
- Identification and assessment of key risks (including use of VAR, sensitivity analysis and stress testing);
- Description of management's risk management responses/policies/strategies;
- Articulation of company's crisis management and business continuity plans (including succession plans).
Corporate Governance Issues (CG)
- Disclosure of directors' background (including qualification, experience, other directorships, shareholdings);
- Provision of management background information (including shareholdings);
- Level of detail provided in the disclosure of directors'/key executives' remuneration (i.e. breakdown in dollar amount, specific disclosure);
- Articulation of director selection, rotation, orientation and training policy;
- Description of key executive and director performance, evaluation and remuneration policy;
- Disclosure of governance committee (including audit, nominating and remuneration committees) policies;
- Articulation of fraud and whistle-blowing policy;
- Board opinion of internal controls (including Board rationalisation of internal controls and basis of board opinion).
Environmental and Social Accountability (ESA)
- Discussion on environmental sustainability performance (including waste management, pollution control, energy conservation);
- Discussion on company's social accountability to employees (i.e. evidence on fair practices, training, non-discriminatory policy) and the wider community (i.e. suppliers, customers, society);
- Social performance – wider community (including suppliers, customers, society);
- Articulation of social and environmental sustainability practices, policies and plans.
Informativeness, Clarity and Presentation (ICP)
- Comprehensiveness and informativeness of annual report (i.e. no omission of crucial and useful information);
- Clarity and good organisation of information (i.e. good use of diagrams/charts and easy retrieval of specific information);
- Innovative design and presentation of annual report (i.e. attractive, refreshing and novel presentation).
Analysis of Final Assessment Results for Best Annual Report Award
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