|
|
|
Welcome Address By Dr Andy Woo Cheong Lai Chairman, Nacra 2005 Organising Committee - Launch Of Nacra 2005
Address by : Dr Andy Woo Cheong Lai
Date : 18 May 2005
Mr Ken Pushpanathan, Chairman, NACRA 2005 Adjudication Committee
Mr Lam Kee Soon, Member of NACRA 2005 Organising Committee & Adjudication Committee
Council Members of MIM, MIA and MICPA
Members of the Media
Ladies and Gentlemen,
On behalf of the NACRA 2005
Organising Committee, it gives me great pleasure to wish you a very good morning and a
warm welcome to the launch of the National Annual Corporate Report Awards 2005.
Since its inception in 1990, the NACRA competition has acknowledged more than 100 winning organisations in various industries throughout Malaysia. These organisations have proved themselves captains of their industries, by their commitment in striving towards
excellence in corporate reporting and conduct. To them, winning the Awards has become more than the prestige and recognition associated with being a NACRA winner. It is rather, the upholding of their responsibility towards communicating with their stakeholders, by
ensuring that they excel in doing it right and reporting it well.
The NACRA Awards serves as a benchmark for excellence in corporate reporting. It is aimed at promoting greater and more effective communication of financial and business information through the publication of timely, informative, factual and reader-friendly annual reports.
The theme of NACRA, "Towards Excellence", underscores the vital role of annual reports in propagating transparency and higher standards of corporate accountability.
|
Dr Andy Woo Cheong Lai, Chairman of NACRA 2005
Organising Committee, delivering his Welcome Address at the NACRA Launch.
|
Corporate scandals in recent times have led to increased shareholder activism, calling for better corporate governance. The investing public relies on the proper disclosure of timely and accurate information to make sound investment decisions. Thus, an annual report becomes one of the most important corporate communication medium through which information is conveyed to the public.
For Malaysian corporations to progress towards international standards in corporate reporting, there is a need for higher professional standards, greater disclosure of information and more accurate representations. It is hoped that this singular commitment towards corporate transparency by all Malaysian corporations will attract foreign investors confidence and put Malaysia on a strong foothold
in achieving world-class financial centre status.
Ladies and Gentlemen,
NACRA comprises five categories of awards, namely:
- Overall Excellence Award for Best Annual Report of the year
- Industry Excellence Award for Companies Listed on Bursa Malaysia Main Board, Second Board and the MESDAQ Market
- Presentation Awards for Best Annual Report in Bahasa Malaysia and Best Designed Annual Report
- Environmental Reporting Award; and
- Special Award for Non-Listed Organisations
The Adjudication panel consists of 70 members, drawn from the securities industry, accountancy profession, commerce and industry and academic institutions. Headed by Mr Ken Pushpanathan, as Chairman of the NACRA 2005 Adjudication Committee, they have pledged their commitment in carrying out their duties with the utmost stringent criteria in selecting the winners, thus ensuring the highest quality
of financial reporting.
The NACRA competition is open to all Malaysian corporations, both public-listed and non-listed, as well as public sector and other organisations established in Malaysia.
All companies listed on Bursa Malaysia automatically qualify for the NACRA competition. For non-listed companies, public sectors and other organisations, participation is free.
The closing date for submission of entries for non-public listed companies and other organisations for NACRA 2005 is 1 August 2005.
The announcement of the results and awards presentation dinner is scheduled for 29 November 2005.
Ladies and Gentlemen,
On this note, I would like to invite all organisations besides the public-listed companies, to participate in the competition. Like the listed companies, all the other organisations should also strive to improve their corporate governance practices to meet world-class standards in corporate reporting, disclosure and communications. It is the vision of the NACRA Organising Committee each year, to
see the participation of more annual reports be it from listed or non-listed organisations to raise the standards of corporate reporting to a higher level. And ultimately with the active participation from all corporates, Malaysia's objective to become a hub to attract foreign financial investments will soon be realised.
Ladies and Gentlemen,
Before I conclude, on behalf of MIA, MICPA and MIM, I would like to take this opportunity to thank Bursa Malaysia for being the supporting organisation for NACRA 2005. Thank you to all who are present here today, for taking time off your busy schedule to be at this launch. Your presence speaks of your support for NACRA and for sharing our vision in promoting the highest standards of financial
reporting in Malaysian organisations.
Thank you.
DR ANDY WOO CHEONG LAI
CHAIRMAN
NACRA 2005 ORGANISING COMMITTEE
MAY 18, 2005
Related links:
Speech Of Mr Ken Pushpanathan Chairman, Nacra 2005 Adjudication Committee
National Annual Corporate Report Awards 2005 - Towards Excellence In Corporate Reporting
|
[RETURN] |
