Bangkok--Mar 11--SET
Executive Vice President of The Stock Exchange of Thailand (SET) Ms. Sopawadee Lertmanaschai reported that as rated by the Thai Rating and Information Services Co., Ltd. (TRIS), PTT Pcl. (PTT) had earned a ‘very good’ corporate governance (CG) rating of 8.19 points (on a 10 point scale). PTT is the 11th company having had its corporate governance rated by TRIS.
“Receiving a ‘very good’ CG rating shows that PTT’s directors and management have placed a great deal of importance on this issue and are determined to improve its CG. Most prominently, the Company has disclosed appropriate and reliable information concerning its CG development as well as in other areas, utilizing various channels to provide all investors with equal access. PTT also has an active Investor Relations (IR) unit,” Ms. Sopawadee said.
PTT received its highest score in the Information Disclosure area, with 8.78/10 points. The company has improved its annual management discussion and analysis (MD&A) in its annual report and the information in its 56-1 form. Investors have therefore received better information about the company.
Having earned a good rating from TRIS is consistent with the Disclosure Report Awards that PTT received for two consecutive years from the Securities and Exchange Commission (SEC) due to the firm’s excellent reporting of both financial and non-financial information. And, due to PTT’s outstanding IR work, the company also earned the “Best Investor Relations” award from the SEC.
Its second-best rated characteristic was its achievements in the Corporate Governance Culture portion of the rating, where PTTEP received 8.71/10 points. In the Composition and Roles of the Board of Directors and Management section of its rating, PTT scored a high 7.86/10 points. And, the company received 7.71 points in Shareholders’ Rights.
The SET’s EVP went on to say that: “It is noteworthy that PTT appointed a ‘CG Committee’ to set corporate CG policies. The company has undertaken activities in line with these policies, showing that it’s determined to be a well-governed corporation. PTT has provided mechanisms to ensure that the shareholders will receive the full benefits they deserve. Moreover, it has also put in place a system that traces any transactions that may cause a conflict of interest, and a preventive system to avoid insider trading. These actions have assured that PTT is well-accepted by relevant parties and remains attractive to investors.”
The SET will grant a 50% discount to PTT on its annual listing fee for two consecutive years to honor its achievement in receiving a ‘very good’ CG rating, or greater than 7/10 overall score. Moreover, PTT will also receive a discount on its securities offering fee from the Securities and Exchange Commission (SEC), plus additional services and facilities from the SEC, the Department of Business Development and the Revenue Department.
For more details on CG, please browse www.cgthailand.org. For past CG rating announcements, please log onto www.tris.co.th, and for information on PTT Pcl., please browse www.pttplc.com
For more information,
please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036 /
Kulvida Jintakawong Tel: 0-2229-2037
Nattaporn Boonprapa Tel: 0-2229-2049 /
Watsamon Saowakhonsathien Tel: 0-2229-2797 End.