As Asia becomes the centre of the economic growth universe following the global financial crisis and the Eurozone sovereign debt crunch, we are continuing to see heavy inflows of capital into the region. These funds are looking for yields amid the low interest rates environment and the sluggish economic prospects in the developed countries. Investors continue to see value in both the equity and the debt capital markets, and several issuers and borrowers are tapping into the Asian debt investor base to raise their funding requirements – taking advantage of the large pool of liquidity.

Indeed, Asian corporates are benefiting from this development, as exemplified in buoyant stock market activity and stronger domestic currencies as they capture the attention of the global investors. But there is no room for complacency. Asian corporates should maintain the trust of the investors and this could only be done through their continuing adherence to the highest standards of corporate governance.

In the case of China, the country’s robust economic growth during the past decade has made it a favoured destination for global investors who are looking to cash in on the enormous opportunities that this market continued to offer. Similarly, Chinese assets have gained worldwide attention as Chinese companies have burst into the international limelight.

This development is being replicated in other markets across the region. We are seeing emerging corporates, many of them no doubt have the makings of national champions – even regional champions for that matter. They could even, one day, become global household names. Several Asian corporates have already made giant strides in the global arena through a series of headline acquisition deals overseas. Others have grown organically as they rode on the back of the burgeoning economies that have transformed Asia as the engine of economic growth.

In doing so, several marquee Asian corporates have not neglected their duties to investors – they are still very much on the ball in terms of corporate governance. It is their premise that investors gravitate to them because they follow the corporate governance practices that these investors are seeing in the West.

In this regard, Corporate Governance Asia is seeking to recognize these companies that have consistently made the honour rolls in our annual awards in the past 10 years – bestowing to them the highest accolade of Icons in Corporate Governance. This esteemed recognition belongs to the best of the best in corporate governance in Asia – they continue to uphold the best practices whatever the business cycle is. There are no excuses for them to lag behind.

In addition, Corporate Governance Asia would like to highlight the efforts of those companies that are following the path of good corporate governance. Like their more astute counterparts, they are adopting measures to raise their governance standards, following the basic tenets that best practices are good for business and are useful tools for attracting investors and accessing the capital markets.

In launching this new set of recognition, we will be looking at other factors as well, including the quality of management, their business model, growth prospects, financial performance and relative position in their industries.

In the meantime, Corporate Governance Asia will continue to acknowledge and honour corporates that remain in good standing as far as corporate governance is concerned. These are the corporates that have made our list in the past few years and are continuing on their mission to bring their governance standards into the next level and one day join their illustrious counterparts and achieve the Icon status.

In recognition of such contributions, Corporate Governance Asia is giving out the “Corporate Governance Asia Recognition Awards - THE BEST OF ASIA” to selected companies, based on the following criteria:
• The awardee must have must a previous publicly-acclaimed track record for
corporate governance (This can be in the form of other CG-related awards);
• The awardee must have been involved in a specific publicly-known activity/activities (legislation,
surveys, studies, etc) directly related to improving or enhancing the standards of corporate governance during the past 12 months;

• The awardee must have implemented significant and specific CG-related reforms
during the past 12 months
• Rights of shareholders
• Disclosure and transparency
• Board and management discipline/nomination
• Corporate Social Responsibility and Environmental Practices
• Audit and Remuneration committee
• INEDS and Investor Relations Practices
• Corporate Governance as a business proposition and value creation for the company
• Corporate Social Responsibility and Environmental Practices
• Ethics and Whistleblowing policies
• Anti Corruption and Bribery Policies
• Human Rights Policies and Advocacy
• Minority Shareholder Protection