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COSCO SHIPPING Ports Limited
COSCO SHIPPING Ports Limited

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COSCO Pacific named the best managed China entrepreneur and red chip for the three consecutive years

Date:2003-04-14     Publish:本站

In the Credit Lyonnais' newly published corporate governance research report, COSCO Pacific is named the best managed China entrepreneur and Red Chip for three consecutive years and is ranked fourth in 2003.

From 2001 to 2003, Credit Lyonnais carried out research reports on corporate governance every year. COSCO Pacific is named the best managed China entrepreneur and red chip for three consecutive years. The rank is fourth in 2003 which is the same as that in 2002, and one rank higher than fifth position in 2001.I The score of COSCO Pacific in the 2003 Credit Lyonnais' research report, which reaches 71.2%, is 10 percentage points higher that the scores in 2002 and 2001. This score is regarded to be the range for good corporate governance among the China entrepreneurs.

Research reports from Credit Lyonnais are widely accepted by investors as authoritative publications in understanding the governance level of companies in capital market, as well as the development trend of corporate governance. Scope of the research includes 380 entrepreneurs in ten areas in Asia, comprising China (including Chinese capital entrepreneur, stocks of red chip and state-owned entrepreneurs), Hong Kong, India, Indonesia, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand.

As mentioned in the report, stock prices of top 25% entrepreneurs with highest score in corporate governance outperformed the market by average 35 percents. On the other hand, stock prices of the lowest 25% entrepreneurs with scores in corporate governance underperformed the market by average 25 percents. Since level of corporate governance has direct effect on stock price, investors emphasize much on the level of corporate governance of the entrepreneurs.

Good corporate management standard of COSCO Pacific is utmost vital in achieving such a good result, in addition to a satisfactory profit result. Credit Lyonnais expressed a highly positive appraisal to COSCO Pacific because of its focus in own business, persistent efforts in creating value for shareholders, and high transparency. Extra credit is given to COSCO Pacific as the company is the only China entrepreneur which set up corporate governance committee in this survey. COSCO Pacific is dedicated to abide all the principles relating to corporate governance, in order to maintain a higher management standard, and long-term interests of shareholders and other persons relating to the entrepreneurs.