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CLP Holdings Ltd won the HKMA Best Report Award this year. The 9-member Panel of Adjudicators commended it as an all-rounded excellent report prepared to the highest standards both in terms of content and delivery .
Apart from the Best Report Award, there are two categories of winning reports: General and Non-profit Making and Charitable Organizations. The results are as follows:
General Category
* Gold:
HSBC Holdings plc
* Silver:
The Hongkong and Shanghai Hotels, Limited
MTR Corporation Limited
* Bronze:
Airport Authority Hong Kong
Hong Kong Exchanges and Clearing Limited
Hysan Development Company Limited
Citation for Achievement in Design:
* Nominees:
CLP Holdings Limited
Esprit Holdings Limited
MTR Corporation Limited
Next Media Limited
Winner:
Esprit Holdings Limited
* Citation for Achievement in Corporate Governance Disclosure:
Nominees:
CLP Holdings Limited
Hysan Development Company Limited
Kerry Properties Limited
Media Partners International Holdings Inc
Winner:
CLP Holdings Limited
Hysan Development Company Limited
Non-profit Making and Charitable Organizations Category
Gold:
Securities and Futures Commission
Silver:
Hong Kong Monetary Authority
* Bronze:
The Hong Kong Jockey Club
Tung Wah Group of Hospitals
Citation for Achievement in Design:
* Nominees:
City University of Hong Kong
CPA Australia Hong Kong China Division
The Hong Kong Polytechnic University
Hong Kong Trade Development Council
Winner:
City University of Hong Kong
Citation for Achievement in Corporate Governance Disclosure
* Nominees:
Hong Kong Institute of Certified Public Accountants
Hong Kong Monetary Authority
Securities and Futures Commission
Winner:
Securities and Futures Commission
* Honourable Mentions
Esprit Holdings Limited
Hong Kong Institute of Certified Public Accountants
Hong Kong Police Force
The Hong Kong Polytechnic University
Hong Kong Trade Development Council
Kerry Properties Limited
The Kowloon Motor Bus Holdings Limited
Kowloon-Canton Railway Corporation
Next Media Limited
* (Listed according to the alphabetical order of company names)
All trophies were presented on Monday, 7 November by Dr The Hon David K P Li GBS JP, Chairman of The Hong Kong Management Association and Mr Howard Gorges, Chairman of the Panel of Adjudicators. This year, a total of 98 reports (64 from General and 23 from Non-profit Making and Charitable Organizations categories) were reviewed by the Panel of Adjudicators, including 11 reports of all the constituents of the Hang Seng Index. The Best Report was selected from the 64 submitted voluntarily from the General category.
An exhibition organized by the Association will be held to publicly display all the 87 annual reports. Details are as follows:
Date: 8-9 November 2005
Time: 11:00 am 9:00 pm
Venue: Hong Kong Station, MTR
Organized by The Hong Kong Management Association since 1973, the Best Annual Reports Awards is an annual competition to encourage the publication of timely, accurate, informative and well presented annual reports for shareholders, stakeholders, employees and others who may have an interest in the performance and activities of the organizations in question.
The criteria of selection include: conformity with accounting standards, conformity with the requirements of the Hong Kong Stock Exchange and Companies` Ordinance, provision of additional information relating to corporate governance, general presentation, understandability, summary of past results and highlights, management discussion and analysis, indications of prospects, employee relations and development, as well as promptness of reporting.
For the General Category, the Panel of Adjudicators commended that the standard of participants annual reports continued to be generally high with a number of excellent reports and it is clear more companies are endeavoring to really connect with their shareholders.
It is encouraging that more companies are endeavoring to produce very comprehensible and user friendly reports often using imaginative design techniques to effectively convey their message or image. We are pleased that the introduction of Citations for excellence in Design and Corporate Governance have brought forth some fine examples.
Despite the high standards of reporting, the Adjudicators identified areas for improvement . Although a number of companies are voluntarily providing additional information above statutory requirements there is scope for greater disclosure of information of meaningful and decisive relevant nature by all companies. Such disclosure should be made in simple language.
For Non-profit Making and Charitable Organizations Category, the Adjudicators were satisfied with the continuous improvement in the annual reports from this category. The best performers continued to provide an effective comprehensible report with full coverage of the organization`s activities and in depth analysis of their past performance. However, more attention to challenges they face and future direction should prove helpful in attracting attention to their activities and funding requirements.
The Panel of Adjudicators this year include Mr Howard Gorges (Chairman), Vice Chairman, South China Brokerage Co Ltd; Mr Phillip Baldwin, Chief Executive, The Hong Kong Institute of Chartered Secretaries; Mr Robert Bunker, Director, Bentley Reid & Co (Pacific) Ltd; Ms Jill Cheshire, Director, Jill Cheshire Design; Mr Charles Grieve, Director of Accounting Policy, Corporate Finance Division, Securities & Futures Commission; Mr Caspar Li, President, Tribourne Ltd; Dr Richard Petty, Board International Committee Member, CPA Australia; Mr James Soutar, Executive Director, FrontPoint Management (Hong Kong), Ltd; and Mr Archie Tsim, Chief Financial Officer, Hong Kong Exchanges and Clearing Limited. |
