28 listed companies win the second ICSB award
11 November 2015, Nirapad News: A total of 28 listed companies in the country won the second “ICSB National Award for Corporate Governance Excellence”.
Finance Minister AMA Muhith handed over the certificates and the crests to the award winning companies at a function, held in a city hotel on Tuesday evening.
Introduced in 2013, the award is a recognition by Institute of Chartered Secretaries of Bangladesh (ICSB) to those companies who have successfully established corporate governance structure in their respective organizations.
Addressing the occasion, the financing minister advised the company secretaries that they should focus on compliance issues for ensuring accountability, transparency and good governance in corporate structures.
He appreciated the ICSB for giving the awards saying that it would help enhance the knowledge base in the corporate sector.
Prof Dr M Khairul Hossain, Chairman of Bangladesh Securities and Exchange Commission (BSEC) and Hedayetullah Al Mamoon, Senior Secretary of then Commerce Ministry were present at the programme as special guest.
M Nurul Alam FCS, Chairman of ICSB’s Corporate Governance Award Committee gave a presentation about the awarding charter and evaluation criteria.
Hedayeullah Al Mamoon said government is working on some reforms to make act up-to-date.
ICSB gave the awards for the second year in 10 categories to promote governance excellence in the country’s corporate sector.
In the banking sector, Eastern Bank got the gold award while United Commercial Bank and Social Islami Bank bagged the silver and bronze awards respectively. In the Non-Banking Financial Institution (NBFIs) category, Prime Finance and Investment Ltd got the gold prize while IDLC Finance Limited and Delta Brac Housing Finance Corporation Limited won the silver and bronze awards accordingly.
In insurance category, Green Dela Insurance Company Limited was awarded gold prize while Prime Insurance Company Ltd and Popular Life Insurance Company Limited won silver and bronze awards respectively.
In the pharmaceutical and chemicals category, Beximco Pharmaceutical Limited won the gold prize while Square Pharmaceuticals and Advanced Chemicals Industries were awarded silver and bronze prizes.
Under textile and RMG category, Square Textiles and Envoy Texiles Ltd were awarded gold and silver awards respectively. In food and allied category, Golden Harvest Agro Industries and Agriculture Marketing Company were awarded gold and silver prizes respectively.
Bangladesh Submarine Cable secured top position in IT, telecom and services category, while Unique Hotel and Resorts Limited and BD Com Online won silver and bronze awards respectively. In engineering category, Singer Bangladesh Limited won the gold prize while BSRM and Ratanpur Steel and Re-rolling Mills Ltd won silver and bronze awards respectively. In manufacturing category, British American Tobacco secured top position, while Premier Cements Mills Limited and Heidelberg Cement Bangladesh Limited got the silver and bronze awards accordingly.
Under fuel and power category, Summit Power Limited topped among three companies while Mobil Jamuna Limited Bangladesh and Linde Bangladesh Limited became second and third respectively.
The jury board, led by caretaker government’s former finance advisor Dr. A B Mirza Md Azizul Islam selected the awardees from among 155 companies that participated out of all listed companies with the stock exchanges and published annual reports for the year ended on December 31, 2014.
The ICSB was established under an Act passed in 2010. It is a recognised professional body intended to develop, promote and regulate the profession of chartered and company secretaries in the country.