China: China Resources Enterprise named “2005 Best Managed Company in China – Large Cap”
China Resources Enterprise, Limited announced on December 21 it has just been named the “2005 Best Managed Company in China – Large Cap” by Asiamoney, a renowned international financial publisher. This prestigious award further adds to the accolade of the Company’s continuing efforts to provide sound management practices and to enhance the core business profitability.
Asiamoney conducts an annual poll with all key analysts and investors of countries in Asia to identify the best managed companies in the region. Performance of individual companies is examined and assessed in accordance to a number of criteria, namely overall financial and business performance, management strategy and vision, investor relations, access to management, transparency, corporate governance, focus on shareholder value and operational efficiency. The results of the poll for 2005 were announced earlier today. The Company received the top award in the large cap category for China (over US$ 700 million market capitalization).
China Resources Enterprise is very keen to promulgate a comprehensive and solid framework of corporate governance with strong emphasis on maintaining transparent, impartial and interactive communications with our investors, shareholders and the community at large. It is the first and only conglomerate company in the Hang Seng Index to voluntarily release quarterly performance review in detail. To ensure proper application of corporate strategies, the Executive Committee formed within the Board is delegated with the duty to monitor execution of the Company’s strategic plans and operations of all business units. Apart from being accountable to shareholders, the Company believes it also bears social responsibility for the wider community and has participated extensively in various community service and environmental protection projects, both in Hong Kong and the Chinese Mainland.
Mr. Mark Chen, Managing Director of the Company thanked Asiamoney and the investment community for the acknowledgement. “We are honoured to receive such a distinguished award from Asiamoney and consider this as an encouraging recognition of our corporate strategy and diligent devotion. Our commitment in upholding the management standards has always met with the expectations of the investment community. We shall keep up our work in delivering better results for our shareholders in future.”
China Resources Enterprise, Limited is listed on the Hong Kong Stock Exchange and is also traded on SEAQ International of the London Stock Exchange. It is also one of the constituent stocks of the Hang Seng Index in Hong Kong and Hang Seng London Reference Index. The Group focuses on the consumer businesses in both Hong Kong and the Chinese Mainland, with core activities being retail, beverage, food processing and distribution, textile and property investment.
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