COSCO Intl gets "The Best of Asia" award
On 20th June 2012, COSCO International was awarded "The Best of Asia" in the 8th Corporate Governance Asia Recognition Awards (Class of 2012) organised by Corporate Governance Asia, the most authoritative quarterly journal on corporate governance in Asia, in recognition of the Company's continued excellence in corporate governance for the second consecutive year, the Group press release said.
The organiser's comments said, "The Board of Directors of COSCO International formulated the corporate governance statement of policy, which not only provides guidance on how the corporate governance principles are applied to the Company, but also states clearly the responsibilities and terms of reference of the Board. The Company also adopted the whistleblowing policy under which employees have been provided a channel and guideline to report any misconduct, malpractice or impropriety concerns within the Group. This reflects the Company's continued efforts to initiate best practices and to provide an open, ethical, fair and continuing dialogue with all stakeholders."
The Corporate Governance Asia Recognition Awards, in its 8th year, is an annual authoritative award recognising companies in Asia that demonstrated continued excellence in corporate governance. The participating companies were evaluated on criteria included rights of shareholders, disclosure and transparency, board and management discipline, audit and remuneration committee, Independent Non-Executive Directors and investor relations practices, corporate governance as a business proposition, corporate social responsibility and environmental practices, etc. This year, COSCO International stood out amid thousands of companies in China and awarded as one of "The Best of Asia" of 16 Chinese awarding companies.
China Ocean Shipping (Group) Company (COSCO), one of the major multinational enterprises in the world, is China's largest and the world's leading Group specializing in global shipping, modern logistics and ship building and repairing, ranking the 327th in Fortune Global 500.
