Recognised for high standards of communication by e.com and the ARC
CLP Holdings' 2008 annual report was ranked 5th worldwide and the best in Asia, according to a global survey of annual reports by financial publication enterprise.com (“e.com”). CLP was the only Hong Kong company to make e.com's top 100.
The e.com judges annual reports based on a number of attributes, including cover, style, executive message, financial review and several more. CLP was cited in particular for the “Governance and Compensation” and “Financial Clarity” categories. Kaevan Gazdar, a renowned corporate communications professional and member of e.com's rating panel, said CLP's annual report had “very good and clear financial reporting, which, contrary to many, is here well integrated within a strong stakeholder orientation.”
The e.com recognised the financial review of CLP's 2008 Annual Report “remains a model of clarity and intelligibility,” adding, “among the many features that makes this report an A-rated one: a direct way to explain hedging and fair value accounting.” They also said the report provides a thorough analysis of the company's condition, liquidity, debt and cash-flow, and features refreshing cover design and reader-friendly visuals.
CLP also received the Gold Award in the “Cover Photo/ Design” category from another prestigious international award programme for the annual report industry, the ARC Awards. The award underscores CLP's commitment to excellence and communication with stakeholders, shareholders and investors.
Mr Andrew Brandler, Chief Executive Officer of CLP Holdings, said, “The recognition that our annual reports receive is the result of excellent teamwork involving colleagues from across the Group. We will continue to use open, creative and effective communications to help our shareholders and other stakeholders understand the main drivers of our business.”
Mrs April Chan, Company Secretary of CLP Holdings, said, “We are delighted and honoured to receive these recognitions from such renowned programmes. The mission for our annual report is the “4 Cs” - strong compliance with the rules and regulations, open communications with stakeholders, emphasis on creativity, and team commitment to strive for excellence—and we will continue to do our best to meet these standards.”
The awards from e.com and ARC for CLP's 2008 Annual Report are the latest in a long line of accolades from professional bodies recognising the company's excellence in the fields of corporate governance and information disclosure. CLP's Annual Reports have won “Best Annual Report” (Hong Kong Management Association) and “Best Corporate Governance Disclosure” Awards (Hong Kong Institute of Certified Public Accountants) for six years in succession. Another recent achievement includes “Asia's Best Managed Companies—Best Corporate Governance” (FinanceAsia) in 2009.
The global top 10 annual reports according to e.com were:
1st ADIDAS – Germany
2nd ELECTROLUX – Canada
3rd TELUS – Canada
4th PHILIPS – Netherlands
5th CLP – Hong Kong
6th SAS – Sweden
7th SASOL – South Africa
8th BASF – Germany
9th POTASHCORP – Canada
10th WIENERBERGER – Austria
More information can be found at www.reportwatch.net. To view the 2008 Annual Report online, visit https://www.clpgroup.com/ourcompany/aboutus/resourcecorner/investmentresources/Pages/financialreports.aspx#tab3
CLP Holdings Limited, a company listed on the Hong Kong Stock Exchange, is the holding company for the CLP Group, which is one of the largest investor-owned power businesses in Asia. Through CLP Power Hong Kong, it operates a vertically integrated electricity supply business in Hong Kong, and provides a highly reliable supply of electricity and excellent customer services to over 5.5 million people in its supply area.
Outside Hong Kong, CLP also invests in energy businesses in Mainland China, Australia, India and Southeast Asia. It is the largest external investor in the Chinese mainland electricity industry, and a leading international private sector power company in the Asia-Pacific region with a diversified portfolio of power generation from gas, coal, renewables and nuclear.
CLP is listed in the Global Dow – a 150-stock index of the world's leading blue-chips, the Dow Jones Sustainability Asia Pacific Index (DJSI Asia Pacific), and the Dow Jones Sustainability Asia Pacific 40 Index (DJSI Asia Pacific 40).
enterprise.com (e.com), now part of U.S.-based Corporate Essentials, Inc, specializes in report input, evaluation, analysis and benchmarking. Its core business is to assess and compare corporate & financial communication tools and investor and market information vehicles, mainly annual reports. It has developed an international, independent, integrated and competitive approach to report preparation and evaluation. This survey of annual reports' best practice is often regarded as the most comprehensive, international and authoritative survey on annual reports.
About ARC Awards
The ARC Awards, established by MerComm, Inc. in 1987, were created to honour overall excellence in annual reports. Known as the “Academy Awards of annual reports,” the ARC Awards is the largest international awards competition of its kind.
Mrs April Chan, Company Secretary of CLP Holdings, accepts the Gold Award at the ARC Awards 2009 (http://www.mercommawards.com/arc.htm
) presentation ceremony held in New York.
Front cover design of CLP's 2008 Annual Report.