Sarawak Energy awarded Bronze medal for its Annual Report at Australasian Reporting Awards

KUCHING, July 19, 2017 -  Sarawak Energy Berhad's Annual Report 2015 received Bronze at the Australasian Reporting Awards (ARA) held in Melbourne recently.

Chief financial officer Alexander Chin receiving the award with Eric Yong, senior manager, group finance and accounting at the event.

The ARAs provide organisations that produce annual reports the opportunity to benchmark their reports against world best practice.

SEB was among companies in the region who met demanding ARA criteria, while providing satisfactory coverage and presenting quality disclosures.

SEB's group chief executive officer Sharbini Suhaili said:“Our report captures the accomplishments and challenges of that particular year and provides a record of our corporate journey as we progress towards our vision.

"We are pleased that our publication has met the exacting standards of this international level award and hope that we will achieve even higher level awards in the future.”

“As a non-listed public entity, we are not bound by the regulated disclosure requirements of the Securities Commission.

"However, in the spirit of transparency and to provide a balanced view of our activities, we continue to publish our corporate annual reports as well as our annual sustainability reports on a purely voluntary basis,” executive vice president of corporate services Aisah Eden said.

The prestigious awards have been organised for over 60 years and are administered by Australasian Reporting Awards Limited, an independent non-profit organisation run by volunteer professionals from the business, government and non-profit sectors.

They are supported by various professional bodies concerned with the quality of financial and business reporting and is sponsored by the highly regarded CPA Australia.

The award marks SEB’s first international recognition for its annual report.

The vertically integrated power utility and energy development corporation was represented by group chief financial officer Alexander Chin at the 2017 ARA Awards Presentation Dinner who received it from Suresh Cuganesan, chairman of ARA committee.

“The evaluation of the annual reports is largely based on the quality and quantity of information disclosed to allow informed decisions by stakeholders. It demonstrates transparency, good governance practices and good corporate citizenship by the Board and Management of Sarawak Energy, especially as this is voluntary,” Chin said.

“This award elevates how we are perceived in the eyes of existing and potential investors and adds immense value to their understanding of Sarawak Energy’s business and financial standing.

"We are being benchmarked against peers, listed and international companies where reporting and disclosure requirements are more exacting since it is mandated by law," he said, adding that this is a tremendous effort from the team for their tireless effort and for producing a quality annual report that is clear, concise and informative.

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Chief financial officer Alexander Chin receiving the award with Eric Yong, senior manager, group finance and accounting at the event.