The guidelines are designed to ensure shareholders are well informed on the corporate governance practices of all listed entities.
Last year, the Council's invited companies to "roadtest" their procedures ahead of the mandatory period. This was willingly taken up by most of the larger companies listed on ASX, and while all such efforts were admirable, several have been recognised as particularly worthy of commendation.
ASX congratulates the following companies:
- Westpac Banking Corporation for outstanding effort in corporate governance reporting against the Principles.
- BHP Billiton for the way in which it has dealt with reporting in a multi-listed environment and reporting of remuneration information.
- Bluescope Steel Limited for its environmental reporting.
- CSL Limited for its reporting of continuous disclosure practice.
- Leighton Holdings Limited for its 'if not, why not' reporting and reporting against corporate values.
- Telecom Corporation of New Zealand Limited for its reporting on director independence.
These companies, and others, provide exemplary models of corporate governance disclosure. ASX is confident that our companies will continue to provide similarly considered, thoughtful and responsible response to their obligations to shareholders in 2004.
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