The Thai Institute of Directors Association (IOD), supported by the Stock Exchange of Thailand (SET), reveals the results of the 2021 CGR score survey of 716 Thai listed companies. with an average score of 84 percent, the highest since the inception of the CGR score assessment in 2001, up from an average of 83 percent in 2020 (692 companies). sustainable with higher average scores in the category of shareholders’ rights Taking into account the role of stakeholders and the responsibilities of the Board of Directors There are also better developments such as training to develop the potential of employees. environmental education and attendance of the board of directors This is in accordance with the principles in the CG Code and in line with investors’ expectations.
If you look at the average scores by category of the 2021 survey, it was found that there were 4 categories with an average score of 80 percent or more. Equitable treatment of shareholders Disclosure and Transparency and taking into account the roles of stakeholders with average scores of 95, 93, 87 and 84 percent, respectively. The average score is still 77 percent, but has improved over the past year. which is a good trend
from the survey results It also found that there were 528 listed companies with an average rating of 80 percent or four stars, of which 260 were 80-89% (four-star) and 260 were 36 percent, and those rated 80-89 percent (four stars). 90 percent or more (five stars) 268 companies accounted for 37 percent of the companies surveyed. Listed companies awarded five stars rose from 240 companies in 2020 to 268 companies in 2021, an increase of 28 companies, or 11 percent.
Mr. Chaiwat Utaiwan, Chairman of the Thai Institute of Directors (IOD) and Chairman of the Thai Private Sector Collective Action Coalition Against Corruption “Thai listed companies have continued to improve in the CGR assessment, especially this year with the highest average score in 21 years, reflecting the cooperation of listed companies in driving corporate governance to raise The level of CG development in the country, which is a good trend in corporate governance to help the organization grow sustainably and in line with investor expectations. CGR to enhance corporate governance The new criteria remain consistent with the OECD Corporate Governance Principles and are consistent with the SET CG Principle/Guideline, CG Code, ASEAN CG Scorecard and 56-1 One Report, which is considered a new benchmark of corporate governance in Thailand.”
Mrs. Sirinan Kittiwetang, Deputy Managing Director of IOD said, “Throughout the past year It can be seen that business operations are changing rapidly. Organizations must adapt to the challenges. especially Issues in corporate governance in a changing context as well as a tendency to focus more on sustainability issues. Therefore, the role of corporate governance is necessary to cover the environment, social and governance (ESG), which is the reason for adjusting the CGR guidelines to be a part of upgrading and determining the direction of compliance with corporate governance principles of Thai listed companies. The new CGR criteria will be implemented in the 2023 assessment, which is an assessment based on disclosures from the 2022 operating results, which will prepare and enhance the company’s knowledge and understanding. Registered for new rules This is considered the role of the IOD in supporting the development of the organization for sustainability.”
Mr. Pakorn Pettawatchai Director and Manager Stock Exchange of Thailand said, “Thai listed companies have continuously improved. This year, the CGR rating of 4 stars and above is 528 companies, representing 74% of all listed companies. reflects the strength and importance of corporate governance at a high level which in the past SET has improved the quality of corporate governance of listed companies through various projects continuously
Currently, listed companies are ready to develop business sustainability in the ESG Disclosure era and in the future will be able to disclose more information about sustainability in depth and breadth through the new standard in 56-1 One Report, which the SET The SEC and IOD will jointly design the New CGR, which will take the sustainability measure to the next level. It will start measuring New CGR in 2023, which will be another important development of the Thai capital market. It is one of the missions to develop the capital market to benefit all sectors. According to SET’s vision “To Make the Capital Market ‘Work’ for Everyone”
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