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Published on December 12, 2007

Bangchak Petroleum (BCP), CS Loxinfo (CSL), Krung Thai Bank (KTB), PTT and Tisco Bank were yesterday named the top five boards for the period 2006-2007.

CSL and KTB made the grade for the first time in the top-five list for Exemplary Practices.

The biennial event is held by the Thai Institute of Directors Association (IOD), Board of Trade of Thailand, Federation of Thai Industries, Thai Bankers Association, Thai Listed Companies Association, Federation of Thai Capital Market Organisations, and the Stock Exchange of Thailand.

IOD chairman Hiran Radeesri said that the event aims to recognise the boards of listed companies with good corporate governance.

There are three types of awards: Board of the Year for Exemplary Practices, which is limited to only five companies; Boards with Consistent Best Practices; and Boards for Distinctive Practices. The companies qualifying for the top five award are the top scorers in six areas: board performance, meetings, policies, structure, style, and members.

IOD president Charnchai Charuvastr said 19 companies of the 21 who vied for the honours, won awards yesterday.

Their minimum and maximum scores were 84 per cent and 96 per cent, respectively, which are higher than the standard level set at 75 per cent.

Boards with Consistent Best Practices are boards that have won this award twice before, and still maintain their performance. The winners were PTT, Tisco, Siam Commercial Bank, and Electricity Generating (EGCO).

Companies winning the Board of the Year for Distinctive Practices honour included Bangkok Aviation Fuel Services, Banpu, Bangkok Bank, Bangkok Expressway, Electricity Generating, Erawan Group, Kiatnakin Bank, PTT Exploration and Production, Ratchaburi Electricity Generating Holding, Siam Commercial Bank, Se-Education, Sahaviriya Steel Industries, Thai Reinsurance, and Thai Oil.

Charnchai said the number of companies competing this year - 21 - were higher than the 18 two year ago. The project reflects the overall efficiency of the operation of listed companies, he said. 

Siriporn Chanjindamanee

 The Nation