Bangkok--13 Jul--SET Thai Institute of Directors Association (Thai IOD), The Stock Exchange of Thailand (SET), Board of Trade of Thailand (BOT), The Federation of Thai Industries (FTI), The Thai Bankers’ Association (TBA), Listed Companies Association (LCA) and Federation of Thai Capital Market Organizations (FeTCO) co-host the Board of the Year Awards 2006/07. The awards recognize of the efforts of company directors in promoting good corporate governance (CG). “These prizes provide public acknowledgement of, and moral support to, directors who have performed their CG duties to a high standard,” Award Committee and Thai IOD Chairman Professor Hiran Radeesri said. “It is essential to encourage good governance among directors. SET continues to foster CG by firstly, producing clear practice guidelines and manuals for listed companies; secondly, through its Corporate Governance Center, advising listed firms’ directors and management; and thirdly, by educating company directors to understand the nature and importance of their role in promoting good CG. The directors honored by these awards have raised the standards of CG in the Thai capital market and provided a role model for others”, SET President Ms. Patareeya Benjapolchai stated. “Good CG is the key to sustainable growth of any corporation, large or small, listed or not. The Board of the Year Awards complement BOT’s Outstanding Ethics Program in lifting the image of Thai companies and offering a model for small- and medium-sized firms,” BOT Chairman Mr. Pramon Sutivong noted. “Corporate governance is especially important for financial institutions, which are in a position to influence other organizations to appreciate its importance. TBA promotes good governance among its members by encouraging them to consider the borrowers’ CG in making financial assessments. From our point of view, it is essential for the security of a company that directors’ comply with CG principles,” TBA Chairman Mr. Apisak Tantivorawong declared. The award program encourages market expansion by portraying the Thai capital market as transparent and trustworthy, FeTCO Chairman Dr. Kongkiat Opaswongkarn added. Good CG contributes to a business’s stability, competitiveness and growth, FTI Treasurer Mr. Visit Limlurcha noted The image and quality of listed companies will attract investors, and these attributes are seen in the leader’s vision and the excellence of a firm’s directors. They are the ones who can transform a company, LCA President Ms. Pensri Suteerasarn stated. Thai IOD initiated the program. There are three types of award: excellent, outstanding and a special acknowledgement for consistently good performance. The short-listed companies are the firms which have received at least four stars from the National CG Committee or have gained a score of no less than 80% from the Corporate Governance Report of Thai Listed Companies 2006 (CGR 2006) program, Thai IOD President Mr. Charnchai Charuvastr said. “The award committee, made up of experts from various organizations, will interview the directors. The assessment criteria employed are board policy, board performance, board structure, board style, board meetings and qualifications of board members. Results will be announced in November 2007,” Mr. Charnchai concluded.