Transcript Presentation

HKIoD Corporate Governance
Scorecard Project
Organized by:
Sponsored by :
HKIoD Corporate Governance
Development Foundation
Executed by :
Prof. Stephen Cheung
Dean of School of Business
1
Research Methodologies I
• Survey results based on publicly available
information
• HSI, HSHKCI, HSCCI, and HSCEI
constituent stocks
• Based on information disclosed in 2002
• 168 major companies are covered
2
Surveyed Companies I
(as at 9/2003)
Allied Group (373)
Brilliance Chi (1114)
China Pharma (1093)
CNAC (1110)
Allied Ppt (HK) (56)
BYD Company (1211)
China Res Land (1109)
CNOOC (883)
Angang Newsteel (347)
Cafe De Coral H (341)
China Res Logic (1193)
CNPC (Hong Kong) (135)
Anhui Conch (914)
Cathay Pac Air (293)
China Resources (291)
COFCO Intl (506)
Anhui Expressway (995)
Chalco (2600)
China Ship Dev (1138)
COSCO Intl Hold (517)
Artel Group (931)
Cheung Kong (1)
China South Air (1055)
COSCO Pacific (1199)
Asia Satellite (1135)
China Aerospace (31)
China Telecom (728)
Culturecom Hold (343)
ASM Pacific (522)
China East Air (670)
China Travel HK (308)
Dah Sing (440)
Bank of E Asia (23)
China EB Ltd (165)
China Unicom (762)
Datang Power (991)
Beijing Airport (694)
China Insurance (966)
Chinese Est H (127)
Denway Motors (203)
Beijing Ent (392)
China Mer Hold (144)
CIFH (183)
Digital China (861)
Beijing N Star (588)
China Mobile (941)
Citic Pacific (267)
Dream Int'l (1126)
Beijing Yanhua (325)
China Oilfield (2883)
CKI Holdings (1038)
E&E Int'l (33)
BOC Hong Kong (2388)
China Overseas (688)
CLP Holdings (2)
Eganagoldpfeil (48)
3
Surveyed Companies II
(as at 9/2003)
Esprit Holdings (330)
GZI Transport (1052)
HSBC Holdings (5)
Jiangxi Copper (358)
First Pacific (142)
HAECO (44)
Huadian Power (1071)
Johnson Elec H (179)
Fong's Ind (641)
Hang Lung Group (10)
Huaneng Power (902)
K M Bus Hold (62)
Forefront Int'l (885)
Hang Lung Ppt (101)
Hung Hing Print (450)
K. Wah Int'l (173)
Founder Hold (418)
Hang Seng Bank (11)
Hutch Harb Ring (715)
Kerry Ppt (683)
Fountain Set (420)
Henderson Inv (97)
Hutchison (13)
Kingmaker (1170)
Giordano Int'l (709)
Henderson Land (12)
Hysan Dev (14)
LCH Bank (1111)
Glorious Sun (393)
HK & China Gas (3)
i-Cable Comm (1097)
Lenovo Group (992)
Great Eagle H (41)
HK Chinese Ltd (655)
ICBC (Asia) (349)
Lerado Group (1225)
Guangdong Inv (270)
HK Electric (6)
IDT Int'l (167)
Li & Fung (494)
Guangnan (Hold) (1203) HK&S Hotels (45)
Interchina Hold (202)
Linmark Group (915)
Guangshen Rail (525)
HKEx (388)
Intl Bk of Asia (636)
Lippo China Res (156)
Guangzhou Inv (123)
HKR Int'l (480)
JCG Holdings (626)
Maanshan Iron (323)
Guoco Group (53)
Hopewell Hold (54)
Jiangsu Express (177)
Moulin Int'l (389)
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Surveyed Companies III
(as at 9/2003)
MTR Corporation (66)
Shanghai Ind H (363)
Sinopec Kantons (934)
TVB (511)
New Asia Realty (49)
Shanghai Pechem (338)
Smartone Tele (315)
Varitronix Intl (710)
New World Dev (17)
Shangri-la Asia (69)
SW Kingsway (188)
Vitasoy Int'l (345)
Next Media (282)
Shenzhen Express (548)
Swire Pacific A (19)
Vtech Holdings (303)
Ngai Lik Ind (332)
Shenzhen Int'l (152)
Swire Pacifice B (87)
Wharf Holdings (4)
Oriental Press (18)
Shenzhen Invest (604)
TCC Int'l Hold (1136)
Wheelock (20)
Pac Centry Ins (65)
SHK Ppt (16)
TCL Int'l Hold (1070)
Wing Hang Bank (302)
PCCW (8)
Shui On Cons (983)
Techtronic Ind (669)
Wing Lung Bank (96)
PetroChina (857)
Shun Tak Hold (242)
Texwinca Hold (321)
Wong's Int'l (99)
Qingling Motors (1122)
Silver Grant (171)
Tianjin Dev (882)
Yanzhou Coal (1171)
QPL Int'l (243)
Singamas Cont (716)
TPV Techonology (903)
Yizheng Chem (1033)
RoadShow (888)
Sino Land (83)
Travelsky Tech (696)
Yue Yuen Ind (551)
SaSa Int'l (178)
Sino-I Tech (250)
Truly Int'l (732)
Zhejiang Express (576)
SCMP Group (583)
Sinopec Corp (386)
Tsingtao Brew (168)
Zhenhai Refin (1128)
5
Scorecard Followed The Five OECD
Corporate Governance Principle
OECD principle
Number of
questions &
sub-questions
A.
Rights of
shareholders
16
B.
Equity of
shareholders
10
C.
Role of
stakeholders
4
D.
Disclosure and
transparency
30
E.
Board
responsibilities
26
86
• OECD is
internationally
recognized
• HKEx guidelines
comprehensively
covered
• 168 public
companies
surveyed
6
Corporate Governance
Performance by Indices(2003)
Strong
80
Range
75
Mean
70
65
Scores
60
55
HSI
50
45
All
HSHKCI
HSCCI
HSCEI
40
35
30
Weak
HSI (恒生指數) HSHKCI (恒生香港綜合指數) HSCEI (恒生中國企業指數) HSCCI (恒生香港中資企業指數)
7
The Top 10 Best Performing
Companies (by alphabetical order)
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•
•
•
•
•
•
•
•
•
Asia Satellite (1135)
Bank of East Asia (23)
China Mobile (941)
CLP Holdings (2)
HK & S Hotels (45)
HKEx (388)
HSBC Holdings (5)
Linmark Group (915)
MTR Corporation (66)
Vtech Holdings (303)
8
Research Methodologies (2012)
• Survey results based on publicly available
information
• HSI, HSCCI, HSCEI, and HSLI constituent
stocks
• Based on information disclosed in 2011
• 121 major companies are covered
9
Surveyed Companies I
(as at 12/2011)
ABC (1288)
Belle Int'l (1880)
China Coal (1898)
China Railway (390)
Agile Property (3383)
BOC Hong Kong (2388)
China Comm Cons
(1800)
China Res Land (1109)
AIA (1299)
Brilliance Chi (1114)
China COSCO (1919)
China Res Power (836)
Air China (753)
BYD Company (1211)
China Life (2628)
China Resources (291)
Alibaba (1688)
Cathay Pac Air (293)
China Longyuan (916)
China Shenhua (1088)
Anhui Conch (914)
CCB (939)
China Mer Hldgs (144) China Taiping (966)
Bank of China (3988)
CH Rongsheng (1101)
China Mobile (941)
China Telecom (728)
Bank of E Asia (23)
CHALCO (2600)
China Oilfield (2883)
China Unicom (762)
Bankcomm (3328)
Cheung Kong (1)
China Overseas (688)
ChinaHongqiao (1378)
Beijing Ent (392)
China Agri (606)
China Rail Cons (1186)
ChinaRes Cement
(1313)
10
Surveyed Companies II
(as at 12/2011)
CITIC Bank (998)
Dongfeng Group (489) Guangdong Inv (270)
CITIC Pacific (267)
Esprit Hldgs (330)
Hang Lung Group (10) ICBC (1398)
CKI Hldgs (1038)
Evergrande (3333)
Hang Lung Prop (101)
Jiangxi Copper (358)
CLP Hldgs (2)
FE Horizon (3360)
Hang Seng Bank (11)
Kerry Prop (683)
CM Bank (3968)
FIH (2038)
Henderson Land (12)
Kunlun Energy (135)
CNBM (3323)
Franshion Ppt (817)
Hengan Int'l (1044)
Lenovo Group (992)
CNOOC (883)
GAC Group (2238)
HK & China Gas (3)
Li & Fung (494)
COSCO Pacific (1199)
Galaxy Ent (27)
HKEx (388)
Longfor Ppt (960)
Country Garden (2007)
Gcl-Poly Energy (3800) HSBC Hldgs (5)
Mengniu Dairy (2319)
CPIC (2601)
GOME (493)
MGM China (2282)
Huaneng Power (902)
Hutchison (13)
11
Surveyed Companies III
(as at 12/2011)
Minsheng Banking
(1988)
Renhe Comm (1387)
Sinotruk (3808)
Wynn Macau (1128)
MTR Corporation (66)
Sands China Ltd (1928)
SJM Hldgs (880)
Yanzhou Coal (1171)
ND Paper (2689)
Shanghai Ind H (363)
Swire Pacific 'A' (19)
Yue Yuen Ind (551)
New World Dev (17)
Shangri-La Asia (69)
Tencent (700)
Yuexiu Property (123)
OOIL (316)
Shimao Property (813)
Tingyi (322)
Yurun Food (1068)
Parkson Group (3368)
SHK Prop (16)
Tsingtao Brew (168)
Zijin Mining (2899)
PetroChina (857)
Sino Land (83)
Want Want China (151) Zoomlion (1157)
PICC P & C (2328)
Sinofert (297)
Weichai Power (2338)
Ping An (2318)
Sino-Ocean Land (3377) Weigao Group (1066)
Poly Hk Inv (119)
Sinopec Corp (386)
Wharf (Hldgs) (4)
Power Assets (6)
Sinopharm (1099)
Wheelock (20)
ZTE (763)
12
Scorecard Followed The Five OECD
Corporate Governance Principle
OECD principle
Number of
questions &
sub-questions
A.
Rights of
shareholders
23
B.
Equity of
shareholders
14
C.
Role of
stakeholders
13
D.
Disclosure and
transparency
42
E.
Board
responsibilities
59
151
• OECD is
internationally
recognized
• HKEx guidelines
comprehensively
covered
• 121 public
companies
surveyed
13
Corporate Governance
Performance by Indices
HSCCI (恒生香港中資企業指數) HSCEI (恒生中國企業指數) HSI (恒生指數) HSLI(恒生綜合大型股指數)
14
Ten Best Performing Companies in
Corporate Governance Score
(by alphabetical order)
Bank Of China
(3988) HKEx
(388)
China COSCO
(1919) HSBC Hldgs
(5)
China Life
(2628) ICBC
(1398)
CLP Hldgs
(2)
(992)
CNOOC
(883)
Lenovo Group
MTR Corporation (0066)
15
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