...at: http://www.oecd.org/daf/ca/48806174.pdf. [Accessed 18 February 2016]. * . 2016. . [ONLINE] Available at:http://www.apa.org/about/division/officers/dialogue/2012/02/governance-report.pdf. [Accessed 18 February 2016]. * Developing Good Governance | United States Institute of Peace. 2016. Developing Good Governance | United States Institute of Peace. [ONLINE] Available at: http://www.usip.org/publications/developing-good-governance. [Accessed 18 February 2016]. * . 2016. . [ONLINE] Available at: http://www.ejournal.unam.mx/rca/218/RCA21802.pdf. [Accessed 18 February 2016]. * 8 ways SOX changed corporate governance. 2016. 8 ways SOX changed corporate governance. [ONLINE] Available at: http://www.insidecounsel.com/2012/01/01/8-ways-sox-changed-corporate-governance. [Accessed 18 February 2016]. * . 2016. . [ONLINE] Available at: https://business.illinois.edu/zimmerman/wp-content/uploads/sites/56/2015/08/C-25-Ben-Amar-Boujenoui.pdf. [Accessed 18 February 2016]. * The Rise and Fall of Enron. 2016. The Rise and Fall of Enron. [ONLINE] Available at:http://www.journalofaccountancy.com/issues/2002/apr/theriseandfallofenron.html. [Accessed 18 February 2016]. * Improving Business Behaviour: Why we need Corporate Governance - OECD. 2016. Improving Business Behaviour: Why we need Corporate Governance - OECD. [ONLINE] Available at:http://www.oecd.org/daf/ca/corporategovernanceprinciples/improvingbusinessbehaviourwhyweneedcorporategovernance.htm. [Accessed 18 February...
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...Act 1994, started its operation on April 17, 1995 with a target to play the vital role on the socio-economic development of the country. It availed its registration as a banking company under the Banking Company Act 1993 from the Bangladesh Bank dated February 12, 1995. The bank started to make profit from the inception year. It was made possible for its management and the leadership of the first Managing Director Mr. Lutfur Rahman Sharker, Ex -Governor, Bangladesh Bank. Within a short time the bank has been successful in positioning itself as progressive and dynamic financial institution in the country. The is now widely acclaimed by the business community, from small entrepreneur to big merchant and conglomerates, including top rated corporate and foreign investors, for modern and innovative ideas and financial solution. Thus within this short time it has been able to create an unique image for itself and earned significant solution in the banking sector of the country as a bank with a difference. The emergence of the Prime Bank...
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...Manual Corporate Governance SCGOP Contents Foreword 3 1 The mission of the Foundation for Corporate Governance Research for Pension Funds and the purpose of this manual 5 2 Corporate governance in practice in the Netherlands 7 3 Basic principles of corporate governance 11 4 Corporate governance and performance 14 5 Institutional investors and corporate governance 16 6 Formulation of a voting policy 19 7 2 The exercise of voting rights 23 8 Reporting on the implementation of the voting policy and voting behaviour 26 9 Pension fund governance 27 10 Socially responsible investing 28 11 About SCGOP 30 Appendix: Recommendations on Executive Remuneration 32 Foreword Pension funds strive to protect the benefits of their members as effectively as possible from the consequences of inflation. They therefore invest part of their assets in shares. But the accounting scandals over the past few years have severely damaged investors’ confidence in shares. Rebuilding this trust is now a high priority everywhere. Pension funds and other institutional investors are expected to contribute to this rebuilding process. In the Dutch Corporate Governance Code presented by the Tabaksblat Committee on 9 December 2003, the role of the shareholders is described as follows: "The general meeting of shareholders should be able to exert such influence on the policy of the executive board and...
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...[pic][pic] Corporate Governance and Performance An Exploration of the Connection in a Public Sector Context By Meredith Edwards & Robyn Clough Issues Series Paper No. 1 January 2005 Preface This paper is part of a major project - Corporate Governance in the Public Sector: An evaluation of its Tensions, Gaps and Potential. The project will provide the first comprehensive theoretical and empirical work on corporate governance in the Commonwealth public sector. It has been designed to enhance communication and participation in governance across government, industry, and the community by improving corporate governance literacy and making information publicly available. The project is a collaborative venture between three University of Canberra research centres and key governmental and industry partners including the Australian National Audit Office, the Australian Government Department of Finance and Administration, Deloitte, Touche, Tohmatsu, CPA Australia and MinterEllison Lawyers. This paper is the first in a series that will be produced by researchers and industry partners involved in the project. The aim of the series is to identify and explore key emerging public sector governance issues and encourage wider discussion and activity. The series has been designed for public sector practitioners and corporate governance ‘enthusiasts’ across the public and private sectors. All papers will be broadly distributed and will be available online - www...
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...uk/BJASS.aspx Corporate Governance and Performance of Saudi Arabia Listed Companies Yahya Ali Al-Matari Faculty of Accountancy, Universiti Utara Malaysia matariyahya@yahoo.com Dr. Abdullah Kaid Al-Swidi College of Arts & Sciences, Universiti Utara Malaysia swidi@uum.edu.my, and Assoc. Prof. Dr. Faudziah Hanim Bt Fadzil Faculty of Accountancy, Universiti Utara Malaysia fhanim@uum.edu.my Abstract: This study aims to provide a concise view of the background of Saudi Arabia‟s legal system, important regulations and monitoring policies related to the corporate governance followed by the Saudi government to enhance the attractiveness of the business environment. In so doing, this study attempted to provide an overview on corporate governance in the emerging markets and more specifically in Saudi Arabia. Additionally, this study has shed lights on the main monitoring devices which play a significant role in regulating and developing the Saudi business environment. The focus was on some corporate governance mechanisms that might affect firm performance including board composition (BODCOM), CEO duality (DUAL), board size (BSIZE), audit committee independence (ACIND), audit committee activities (ACMEET) and audit committee size (ACSIZE). Keywords: Corporate governance, firm performance, emerging countries, Saudi Arabia. 1 British Journal of Arts and Social Sciences ISSN: 2046-9578, 1. Introduction The topic of corporate governance is assuming growing...
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...PRECISION IN EXECUTION Annual Report 2014 2014 ANNUAL REPORT CONTENTS CORPORATE OVERVIEW 2 3 4 6 8 12 About SapuraKencana Petroleum Berhad Our Vision Our Core Businesses Health, Safety and Environment Global Presence Corporate Information GOVERNANCE 90 Statement on Corporate Governance 102 Report of the Audit Committee 105 Statement on Risk Management and Internal Control 107 Additional Compliance Information 109 Statement on Directors’ Responsibilities 110 Corporate Responsibility 116 Highlights of Events CORPORATE DISCLOSURES 126 Financial Statements 276 Analysis of Shareholdings THIRD ANNUAL GENERAL MEETING 281 Notice of Annual General Meeting 285 Statement Accompanying Notice of Annual General Meeting Proxy Form LEADERSHIP 14 30 Profiles of Board of Directors Executive Committee PERFORMANCE REVIEW 32 40 50 Message to Shareholders President & Group CEO’s Review Business Highlights: • Drilling • Offshore Construction & Subsea Services • Fabrication, Hook-Up & Commissioning • Energy & Joint Ventures Financial Performance Financial Calendar 84 86 PRECISION IN EXECUTION For the financial year ended 31 January 2014, SapuraKencana Petroleum Berhad (“Group”) continued to make significant strides and executed our plans with precision. We delivered on the operational and Health, Safety and Environment fronts, which led to strong financial results. Having integrated strategic acquisitions in a rapid and seamless manner, the Group has further enriched its capabilities...
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...Management Corporate Governance www.iibmindia.in Chapter 1 Corporate Governance Corporate governance refers to the system by which corporations are directed and controlled. The governance structure specifies the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, crors, auditors, regulators, and other stakeholders) and specifies the rules and procedures for making decisions in corporate affairs. Governance provides the structure through which corporations set and pursue their objectives, while reflecting the context of the social, regulatory and market environment. Governance is a mechanism for monitoring the actions, policies and decisions of corporations. Governance involves the alignment of interests among the stakeholders. There has been renewed interest in the corporate governance practices of modern corporations, particularly in relation to accountability, since the high-profile collapses of a number of large corporations during 2001–2002, most of which involved accounting fraud. Corporate scandals of various forms have maintained public and political interest in the regulation of corporate governance. In the U.S., these include Enron Corporation and MCI Inc. (formerly WorldCom). Their demise is associated with the U.S. federal government passing the Sarbanes-Oxley Act in 2002, intending to restore public confidence in corporate governance. Comparable...
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...COMILLA UNIVERSITY DEPARTMENT OF MARKETING Prepared By: Easir al Newaz (Arif) Phone: 01717520085(zero one seven one seven five two zero zero eight five ) Term Paper Subject Management Function performing the Financial Institution (BRAC, EPL) Md. Solayman Assistant Professor Department of Marketing Comilla University Supervised By: Submitted Group: SL.No | ID NO | Name | 1. | 12020745 | Md. Wasim(Group Leader) | 2. | 12020701 | Md.Iqbal Hossain Patwary | 3. | 12020702 | Md. Badiul Alam | 4. | 12020703 | Imtiaz Bulbul Sakey | 5. | 12020704 | Didarul Alam | 6. | 12020709 | Abu Yusuf | 7. | 12020715 | Md. Asif Zaman | 8. | 12020718 | Easir Al Newaz | 9. | 12020730 | Md. Manjur Hossain | 10 | 12020746 | Md. Nasir Uddin | Date of Submission: 10.08.2012 Reference of Task Sl. No. | ID No. | Name | Responsible Task | 1. | 12020745 | Md. Wasim (Group Leader) | Planning and Organizing the Task. | 2. | 12020701 | Md. Iqbal Hossain Patwary | Design and Preparing Title Page, Letter of Transmission, Executive Summery. | 3. | 12020702 | Md. Badiul Alam (Faisal) | Preparing Management Function. | 4. | 12020703 | Imtiaz Bulbul Sakey | Preparing Management Process. | 5. | 12020704 | Didarul Alam | Case study and Data Collection with the help of group leader. | 6. | 12020709 | Abu Yusuf | | 7. | 12020715 | Md. Asif Zaman | | 8. | 12020730 | Md. Manjur Hossain | | 9. | 12020718 | Easir Al Newaz | Compose, Printing, Binding and So on. | 10. | 12020746 | Md. Nasir...
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...FIDUCIARY DUTIES AND OTHER RESPONSIBILITIES OF CORPORATE DIRECTORS AND OFFICERS Morrison & Foerster LLP Christopher M. Forrester Celeste S. Ferber RR DONNELLEY EZ START XBRL We Tag. You Validate. We File. With the release of the proposed rule, the SEC will require the use of XBRL for financial reporting starting as early as 2009 for some companies. RR Donnelley is uniquely qualified to give you guidance on how your company can prepare for the SEC mandate. As the market leader in XBRL filings, we have been helping leading companies successfully tag and file XBRL financials since the inception of the SEC Voluntary Filing Program. RR Donnelley’s proven EZ Start XBRL full-service solution is designed to save you crucial time. With EZ Start, we do the initial tagging for you, reducing the time spent mapping and validating XBRL tags to under ten hours. Our goal is to transfer knowledge to your financial team to ensure a firm understanding of the taxonomies, mapping process and SEC requirements. To learn more, visit www.tryxbrl.com. FIDUCIARY DUTIES AND OTHER RESPONSIBILITIES OF CORPORATE DIRECTORS AND OFFICERS MORRISON & FOERSTER LLP Christopher M. Forrester Celeste S. Ferber RR Donnelley Global Capital Markets Copyright© 2008 Morrison & Foerster LLP (No claim to original U.S. Government works) All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic...
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...annual report 2014 8 th annual general meeting Menara Hap Seng Jalan P. Ramlee, 50250 Kuala Lumpur, Malaysia. Monday, 25 May 2015 at 2pm. Contents Hap Seng Plantations Holdings Berhad | Annual Report 2014 16 Chairman’s Statement 56 51 Corporate Social Responsibility 2 3 14 16 22 35 Corporate Information Directors’ Profile Group Financial Highlights Chairman’s Statement Statement on Corporate Governance Statement on Risk Management and Internal Control 41 Board Committees 51 Corporate Social Responsibility Financial Statements 56 114 116 120 122 123 126 127 • Financial Statements Additional Information Particulars of Group’s Properties Plantation Statistics Share Buy-Backs Summary Analysis of Shareholdings Directors’ Shareholdings Notice of Annual General Meeting Proxy Form Hap Seng Plantations Holdings Berhad | Annual Report 2014 Corporate Information BOARD OF DIRECTORS Tan Sri Ahmad Bin Mohd Don Independent Non-Executive Chairman Datuk Simon Shim Kong Yip, JP Non-Independent Non-Executive Deputy Chairman Tan Sri Abdul Hamid Egoh Non-Independent Non-Executive Director Datuk Edward Lee Ming Foo, Managing Director Wong Yuen Kuai, Lucien Independent Non-Executive Director JP Lee Wee Yong Executive Director Au Yong Siew Fah Executive Director 2 Company Secretaries Cheah Yee Leng (LS 0009398) Lim Guan Nee (MAICSA 7009321) Registered...
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...Accommodation Workboats & Barges Under Construction 4 Diving/Support Vessels 41 Remotely Operated Vehicles 2 Remotely Operated Vehicles Under Construction 6 Anchor Handling Tugs/Supply Vessels DRILLING ENERGY • 9 Tender Barge Rigs • 7 Semi-Tender Rigs • 1 Semi-Tender Rig Under Construction • Participating in 10 PSCs • Operator in 6 of the 10 PSCs • 1 Risk Service Contract A multinational workforce of approximately 13,000 people in over 20 countries REVENUE OPERATING PROFIT TOTAL ASSETS RM RM RM 9.9 billion 2.0 billion 34.6 billion FORBES ASIA’S FABULOUS 50 THE OIL & GAS YEAR LISTING FOR THE SECOND SUCCESSIVE YEAR NEW UPSTREAM PLAYER OF THE YEAR AWARD CONTENTS CORPORATE OVERVIEW 2 a a Health, Safety and Environment 89 Statutory Declaration Financial Performance 90 Independent Auditors’ Report...
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...Insight Report The Global Competitiveness Report 2014–2015 Klaus Schwab, World Economic Forum Insight Report The Global Competitiveness Report 2014–2015 Full Data Edition Professor Klaus Schwab World Economic Forum Editor Professor Xavier Sala-i-Martín Columbia University Chief Advisor of The Global Competitiveness and Benchmarking Network © 2014 World Economic Forum World Economic Forum Geneva The Global Competitiveness Report 2014–2015: Full Data Edition is published by the World Economic Forum within the framework of The Global Competitiveness and Benchmarking Network. Copyright © 2014 by the World Economic Forum Professor Klaus Schwab Executive Chairman All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, or otherwise without the prior permission of the World Economic Forum. Professor Xavier Sala-i-Martín Chief Advisor of The Global Competitiveness and Benchmarking Network Espen Barth Eide Managing Director and Member of the Managing Board ISBN-13: 978-92-95044-98-2 ISBN-10: 92-95044-98-3 Jennifer Blanke Chief Economist This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. THE GLOBAL COMPETITIVENESS AND BENCHMARKING NETWORK Margareta Drzeniek Hanouz, Head of the Global Competitiveness and Benchmarking Network and...
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...NON EXECUTIVE DIRECTORS A member of a company's board of directors who is not part of the executive team. A non-executive director (NED) typically does not engage in the day-to-day management of the organization, but is involved in policy making and planning exercises. In addition, non-executive directors' responsibilities include the monitoring of the executive directors, and to act in the interest of any stakeholders. Also called external director, independent director and outside director. ROLE OF NON EXECUTIVE DIRECTORS * Provide objective and independent advice to the Board to enable it to make better decisions in the interest of all shareholders * Bring a genuine independent perspective to enhance decision making * Provide value added input to strategy and strategic development * Act in the best interests of the company as a whole rather than any one particular group of shareholders * Assist in carrying out the duties of the Board, such as: * reviewing, approving and on-going monitoring of the strategic plan * reviewing organizational capability in relation to stated objectives * reviewing financial performance against targets * raising capital * reviewing any major changes in the company, such as financial and organization structure * providing advice on major investments/divestments to be made * monitoring legal, ethical, risk and environmental compliance where appropriate * Act as a catalyst for change...
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...-the relationship of the leader to the board has a tremendous impact on the organization’s ability to fulfill its mission. -they work with to create the most effective, strong, and healthy boards possible to serve the organizations that they lead. -The chapters provide a brief overview of the best practice and its relationship to board development. -Join this journey of exploring the best practices of strong and effective boards. guiding the reader from a solid starting point of development by establishing role, purpose and function of the board to knowing and communicating the organization’s mission, vision and values. -Board members intentionally and routinely engage in mutual accountability, communication, evaluations and board development while taking the necessary time to process decisions eliminating unnecessary surprises. Boards unite and resolve to work together through change and transitions for the good of the Kingdom, the advance of the Gospel, and the prosperity of the organization. -to exhibit generosity as board members and to be outstanding examples of giving regularly and sacrificially to the church, college or organizations they serve in order to establishment a culture of board development that embraces the principle of “passing it on,” by developing new board participants that will lead to a strong and healthy future for the organization. - as a board member or as leader of an organization can take your present board environment and develop it into...
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...The role of ethics and compliance in Starbucks is set in place to ensure that all of Starbuck’s staff from the baristas working the front counter to the corporate staff are all abiding by federal laws and regulations. Ethics in financial practices are sometimes hard to believe. The agency problem is the result of conflict of interest between stockholders and the managers of a firm (Titman & Keown, p. 15, 2011). “A conflict of interest is a situation in which a person has a private or personal interest sufficient to appear to influence the objective exercise of his or her official duties (“Business Ethics”, n.d.). An example of a conflict of interest would be if the CFO attempted to acquire a property or investment from a friend or family member without acting in the best interest of Starbucks and it’s shareholders. Corporate advisors, in this case a CEO or CFO are legally required to make fair and ethical financial decisions. The Sarbanes-Oxley Act or SOX, passed by Congress in 2002 holds corporate advisors that have access to influence company decisions legally accountable for any instances of misconduct (Titman & Keown, p. 11, 2011). The SOX act is in effect in order to protect corporate shareholders against financial misconduct and accounting fraud. According to Starbuck’s Code of Ethics for CEO and Finance Leaders are required to follow the following seven duties: act with honesty and integreity, avoiding actual or apparent conflicts of interest, provide internal...
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