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General background

The Institute first launched the Awards in 2000 with the twin objectives of encouraging and promoting good CG disclosures and practices, and acknowledging listed companies and public sector/not-for-profit organisations that exemplify the best CG standards in Hong Kong, as reflected in their annual reports. In 2000, there were only three categories, in which diamond, platinum and gold awards, could be given out, with an overall grand award (around 10 possible awards). In 2018, the Awards have grown to include six main categories, SSR awards, self-nomination awards, and three types of commendations, amounting, in all, to over 40 possible awards.

 

In addition to the above, the judges may give out special mentions for CG and SSR performances regarded as deserving of recognition and encouragement.

 

The process

 

Planning on the Awards starts in March each year, when the organising committee reviews the previous year's Awards and sets the themes and parameters for the coming year. An initial vetting process is carried out in May to identify companies that merit a more in-depth review of their CG and SSR performance. Those companies that pass the initial vetting undergo up to two more detailed "quality reviews" of their CG disclosures and practices. Annual reports remain the primary source of information, but website information may be considered, particularly where there are cross-references to this in the annual report. Companies that make it into the second round of the quality review phase are given a "compliance review", to confirm their compliance with the CG requirements of the Companies Ordinance and listing rules.

 

The judges are provided with a shortlist of companies and organisations, as well as other information from the review phase. However, they make their own assessments and reach their own conclusions. Having provided their written views and recommendations, the judges convene for a meeting to decide on the final determinations. In addition to information from the review process and their own analyses, where appropriate, the judges may also take into account and discuss other public information about the shortlisted candidates, such as news reports and researched material.

 

Each year the detailed assessment criteria are reviewed and updated to take account of regulatory changes and changes in expectations within the market and the community. Tailor-made assessment criteria and marking sheets have been designed for the SSR awards and the commendations.

 

The Institute is very grateful to all the people whose dedication helps to make the Awards a success. This includes the reviewers, judges, the Awards organising committee, and supporting staff. The Institute also thanks all the supporting organisations and media sponsors. Acknowledgments, as well as detailed commentaries on the CG and SSR of the winning companies and organisations, are contained in the Judges' Report for the 2018 Awards.

 

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