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The 2017 (4th Round) Corporate Governance Evaluation Award Ceremony was Successfully Held on May 29

Publish time:2018-06-06

The Taiwan Stock Exchange (TWSE) and the Taipei Exchange (TPEx) co-hosted the 4th round of the Corporate Governance Evaluation Award Ceremony on the 9th floor of Taipei 101 at 3pm on May 29. Awards were presented to 77 listed companies (43 TWSE-listed and 34 TPEx-listed companies) that ranked in the top 5% of the evaluation in recognition of their achievements. In addition to inviting Wellington L. Koo, Chairman of the Financial Supervisory Commission, to speak and present awards at the ceremony, heads of the competent authorities and securities institutions were also invited to join the celebration.
 
TWSE Chairman Hsu Jan-yau said in his speech that the Corporate Governance Evaluation has been given much attention by listed companies since its launch. He also pointed out that more and more companies had started following the indicators and proactively implementing good corporate governance practices while investing resources to improve corporate governance and fulfill corporate social responsibility. Statistics in areas including protection of shareholders' rights, effectiveness of the board of directors, and information transparency show that the quality of corporate governance practices have improved significantly. The 2018 Corporate Governance Evaluation starts removing formal and box-ticking indicators, strengthening scoring standards and introducing performance differentiation in an attempt to include more qualitative elements. The Corporate Governance Evaluation will be continuously refined according to the New Corporate Governance Roadmap (2018-2020), published by the competent authority in April to improve the effectiveness of the evaluation.
 
FSC Chairman Wellington L. Koo said in his speech that implementation of the Corporate Governance Evaluation was one of the important market mechanisms under the 2013 Corporate Governance Roadmap, and has great achievements after these years. To improve the evaluation even further, the FSC officially launched the New Corporate Governance Roadmap (2018-2020) in April. In particular, strengthening the effectiveness of corporate governance valuation is named a top priority. Meanwhile, important changes include the addition of performance differentiation and sending questionnaires or onsite visits. Furthermore, given that corporate governance and internal control related regulatory requirements vary by sector, releasing evaluation results by sector or other appropriate classification will be assessed in the future. Corporate governance is part of the infrastructure to facilitate corporate sustainability. We look forward to having corporations, governments, and private organizations, working together to place a greater emphasis on corporate governance and improve the corporate governance culture in Taiwan and make Taiwanese businesses more globally competitive.
  
The TWSE would like to take the opportunity to recognize outstanding companies and the efforts they invest in corporate governance. It is hoped the awarding companies as role models would lead the way for the rest and be the benchmark that would guide and direct capital market participants to better corporate governance practices.