Hong Leong Asia Ltd (“HLA”), the listed trading and manufacturing arm of the Hong Leong Group, has been awarded Silver for Best Managed Board and Bronze for Best Annual Report, for Singapore Exchange-listed companies in the S$300 million to less than S$1 billion market capitalisation category, at the annual Singapore Corporate Awards 2022 (“SCA”).  

Organised by the Institute of Singapore Chartered Accountants, Singapore Institute of Directors and The Business Times, supported by Accounting and Corporate Regulatory Authority and Singapore Exchange, the SCA recognises and honours exemplary SGX-listed companies as well as individuals who, through their corporate practices, have helped to raise Singapore’s corporate governance and corporate disclosure standards.

Mr Stephen Ho, Chief Executive Officer of HLA, said: “We are delighted to win two such notable awards at the 17th Singapore Corporate Awards and be recognised for upholding high standards in corporate governance and transparency. The awards reaffirm the HLA Board and the management team’s efforts and commitment to continuously improve on our corporate governance and sustainability practices, inspiring us to do even better as we steer the HLA’s businesses in its next phase of growth.”

The Best Managed Board award recognises and encourages enhanced corporate governance within companies, with a focus on transparency, accountability, performance orientation, good processes and practices among well-managed boards. The rigorous selection process comprises three stages, with the final stage involving the shortlisted companies being interviewed and evaluated by a panel of judges.

In recognition of its excellence in financial reporting and disclosure, HLA was also bestowed the bronze award for Best Annual Report.

The SCA wins correlates with the annual Governance and Transparency Index (“GTI”) ranking by NUS Business School’s Centre for Governance, Institutions and Organisations. HLA has placed 21st in the 2022 corporate governance ranking with a score of 100 points, an improvement of two places from placing 23rd in 2021.

This marks HLA’s second consecutive year of wins at the SCA. It was conferred the Corporate Excellence and Resilience award in 2021, an award that recognises companies that have continued to uphold best practices in corporate governance, and had shown exemplary leadership, innovation and resilience during the COVID-19 pandemic.