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SPSE Annual Report Competition 2009

10/12/2009
 

PRESS RELEASE
 
SPSE ANNUAL REPORT COMPETITION 2009
 
The South Pacific Stock Exchange once again organized the prominent Annual Report Competition for the year 2009. The winners were announced and awarded with their honours at the SPSE Annual Report Competition Awards Night organised at the Tanoa Plaza Hotel in Suva yesterday.
SPSE Chief Executive Officer, Ms Jinita Prasad said “the main objective of this competition is to bring about improvements in the reporting style of the annual reports and promote transparency as the information embedded in the Annual Report is fundamentally needed by the shareholders, prospective investors and investment analysts”. She further added that the need for corporate governance disclosure in the annual reports is vital as it is a set of process, custom and policy affecting the way an organization is directed, administered and controlled. Information from the annual report also forms the core of the business status reporting system. Information entailed in the annual report is heavily relied on by the commercial, financial and legal sectors as well.
The competition caters for companies of all types and sizes. There are four separate categories:
Category A: Statutory Authorities, Government Bodies & Unlisted Trusts
Category B: Co-operatives & Charitable Organizations
Category C: Other Companies and Unit Trusts
Category D: Listed Companies
 
This year the judge’s panel consisted of seven independent judges who have substantial experience in compiling, inspecting and assessing annual reports. The Chairman of the panel was Professor Michael White from the University of the South Pacific, Ritnesh Narayan from the Auditor Generals Office, Peni Tora from Ernst and Young, Sunil Sharma from AliZ Pacific, Uday Sen from Credit Corporation, Renu Chand from KPMG and Kaushick Chandra from PricewaterhouseCoopers.
 
The South Pacific Stock Exchange congratulates the winners and would like to thank all the 19 participants who entered the competition. The winners for this year’s competition are as follows;
 
 
Category A
Category B
Category C
Category D
Winner
Fiji Development Bank
Fiji Red Cross Society
Air Pacific Limited
Amalgamated Telecom Holdings Ltd
1st Runner Up
Fiji Electricity Authority
Partners in Community Development Fiji
Airports Fiji Ltd
Fiji Television Ltd
2nd Runner Up
N/A
Foundation for Rural Integrated Enterprises ‘N’ Development (FRIEND)
Fiji International Telecommunications Limited
 (FINTEL)
Fiji Sugar Corporation Ltd
 
All companies are encouraged to enter the Annual Report Competition 2010 and are invited to submit 8 copies of their Annual Reports for the financial year ending from 1st January 2009 to 31st December 2009 to the SPSE by 15th July 2010 for next year’s competition.
 
Further information on the competition can be viewed on our website at www.spse.com.fj
 
 
 
 
Jinita Prasad
Chief Executive
10/12/2009
 
 
 
 
 
 
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