It is Singapore’s Oscar night, but for corporations.
The Singapore Corporate Awards (SCA) is similar to the Oscars in that it recognises and promotes excellence in corporate governance among listed companies.
Launched back in September 2005, SCA is now into its 17th consecutive year and hands out awards to deserving companies in seven areas.
They are – best managed board, best CEO, best CFO, best investor relations (IR), best annual report and best risk management.
We feature five blue-chip companies that clinched awards in the most recent SCA ceremony.
DBS Group (SGX: D05)
DBS is Singapore’s largest bank and the lender bagged a total of three awards at the SCA.
The group won gold awards for best managed board and best risk management, and a silver award for best annual report.
The bank has no doubt done an excellent job in steering its way through the turbulence faced in the last two years.
For fiscal 2021 (FY2021), DBS chalked up a record S$6.8 billion in net profit as it wrote back allowances and generated higher fee income.
The strong performance has carried on into the first half of 2022 (1H2022) with the bank reporting its second-highest quarterly profit on record.
DBS’ annual report, which can be found here, provides detailed financial highlights along with a section on sustainability and creating social good.
United Overseas Bank Ltd (SGX: U11)
Not to be outdone, United Overseas Bank Ltd, or UOB, has also clinched three awards in the SCA.
Despite being the smallest of Singapore’s Big Three banks, UOB still managed to rake up a net profit of S$2 billion for its 1H2022 earnings.
UOB’s CEO, Wee Ee Cheong, snagged the best CEO award and the bank also bagged the gold award for best risk management.
In addition, the lender also cliched a silver award for best IR.
UOB has consistently kept its shareholders updated on all its corporate announcements and business development activities.
The bank releases a presentation periodically showing investors its progress on digitalisation, the market potential for its franchise to expand, and also provides a detailed macroeconomic outlook.
UOB even periodically releases a mandarin version of its presentation for its customers who are more familiar with the language.
Singtel (SGX: Z74)
Singtel is Singapore’s largest telco and the group won a silver award for best IR and a bronze award for best annual report.
The telco has provided detailed updates on the strategic review that was announced in May last year.
Subsequently, its annual report that year provided useful details on how it planned to realign the business and set it on a growth path again.
These efforts have paid off – Singtel’s most recent business update saw the telco report a higher underlying net profit with the group also hinting that dividends may be raised.
There could be more good news to come as Singtel’s recent Investor Day highlighted several growth initiatives that could benefit the telco in the months to come.
CapitaLand Investment Limited (SGX: 9CI)
CapitaLand Investment Limited, or CLI, is a global real estate investment manager with S$125 billion of real estate assets under management and S$86 billion of real estate funds under management as of 30 June 2022.
Not only did CLI clinch the “Best CFO” award for group CFO Andrew Lim, but three REITs that it manages also walked away with awards.
Ascott Residence Trust (SGX: HMN) won a gold award for best IR, CapitaLand Integrated Commercial Trust (SGX: C38U) clinched the gold award for best annual report, and Ascendas REIT (SGX: A17U) won a silver award for best annual report.
Frasers Logistics & Commercial Trust (SGX: BUOU)
Frasers Logistics & Commercial Trust, or FLCT, owns a total of 105 properties worth S$6.5 billion as of 30 June 2022.
Its portfolio is spread out across Singapore, Australia, the Netherlands, Germany and the UK and enjoys a high occupancy rate of 96.5%.
The industrial and commercial REIT clinched the silver award for best IR in the “REITs and Business Trusts” category.
FLCT has grown its asset base more than four-fold from S$1.6 billion in 2016 to the current S$6.5 billion.
The REIT’s aggregate leverage stood at 29.2% with a low cost of borrowing at 1.6%, opening the REIT up for more accretive acquisitions by tapping on its borrowings.
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Disclaimer: Royston Yang owns shares of DBS Group and Frasers Logistics & Commercial Trust.
