BRITISH American Tobacco (M) Bhd (BAT Malaysia) has been recognised by the Minority Shareholders Watchdog Group (MSWG) for excellence in corporate governance. In particular, BAT Malaysia received the Corporate Governance Disclosure Excellence Award and the Industry Excellence Award for Consumer Products and Services.
The ASEAN Corporate Governance Scorecard was used to measure the implementation of good corporate governance among 851 participating companies.
BAT Malaysia was chosen as the recipient of both awards by representatives from professional bodies, corporate governance experts, academicians, investment professionals and those familiar with the Malaysian equity market.
The assessment is also based on information published in annual reports, corporate governance and sustainability reports issued for financial year ended April 30, 2019 to March 31, 2020.
Both of the awards reflect BAT Malaysia’s consistent application of robust compliance initiatives, transparency and adherence to its Standards of Business Conduct, according to its managing director Nedal Salem.
“I’m very proud that BAT Malaysia has been recognised by MSWG with these awards. As part of our ‘A Better Tomorrow’ purpose, we strive for excellence in corporate governance,” he pointed out.
“Conducting our business with honesty, integrity and transparency is not only the right thing to do, but it is also critical to the continuing development of a business that is responsible, successful and sustainable in the long term.”
MSWG CEO Devanesan Evanson commended BAT Malaysia for upholding high levels of corporate governance.
“2020 marks the ninth year that the MSWG has undertaken the corporate governance assessment project,” he noted.
“BAT Malaysia not only builds trust with investors and the community but its employees also stand to gain from working in a company whose corporate reputation fosters a culture of integrity which leads to a positive performing and sustainable business.”
Currently the only listed cigarette manufacturer on Bursa Malaysia, BAT Malaysia is synonymous with brands like Dunhill, Kent, Peter Stuyvesant, Pall Mall, Rothmans and Kyo.
The company which currently has a workforce of 452 employees is part of the British American Tobacco group which is the world’s most international tobacco group and the second largest stock market listed tobacco group by global market share. – Oct 15, 2021