ASEAN. CORPORATE GOVERNANCE SCORECARD 2017 (Project by ACMF & SSC) Observations by DRB of Vietnam
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1 ASEAN CORPORATE GOVERNANCE SCORECARD 2017 () Observations by DRB of Vietnam Dr. Nguyen Thu Hien and Assessment team December 12, 2017
2 ASEAN CORPORATE GOVERNANCE SCORECARD 2017 Observations by DRB of Vietnam Training to PLCs about ACGS and support to improve CG Dr. Nguyen Thu Hien and Assessment team December 12, 2017
3 Dr. Nguyen Thu Hien and Assessment Team ASEAN Corporate Governance Scorecard 2017 Project PART E: RESPONSIBILITIES OF THE BOARD DEC 2017
4 The corporate governance framework should ensure the strategic guidance of the company, the effective monitoring of management by the board, and the board s accountability to the company and the shareholders. Chapter VI, OECD Principles of CorporateGovernance(2004)
5 E.1 Boarddutiesandresponsibilities E.2 Boardstructure E.3 Boardprocesses E.4 People ontheboard E.5 Boardperformance
6 E.1 Board duties and responsibilities
7 E.1 Board duties and responsibilities E.1.1.Does the company disclose its corporate governance policy / board charter?
8 HCM Ho Chi Minh City Securities Company website
9 EDC Energy Development Corporation Company website
10 E.1 Board duties and responsibilities E.1.2.Are the types of decisions requiring board of directors/commissioners' approval disclosed?
11 VCB Vietcombank Company Charter Article 44
12 EGCO Electricity Generating PCL Annual Report p.61
13 E.1 Board duties and responsibilities E.1.3.Are the roles and responsibilities of the board of directors/commissioners clearly stated?
14 VCB Vietcombank Company Charter Article 44
15 MPI Metro Pacific Investment CG Manual Article 3
16 E.1 Board duties and responsibilities E.1.4.Does the company have an updated vision and mission statement?
17 GMD GEMADEPT Annual Report p.6-7 Please note that Rooms for improvement are needed here
18 JSMR Jasa Margar Annual Report p.9
19 JSMR Jasa Margar Annual Report p.9
20 EDC Energy Development Corporation Annual CG Report p.11
21 E.1 Board duties and responsibilities E.1.5.Does the board of directors play a leading role in the process of developing and reviewing the company's strategy at least annually?
22 U11 United Overseas Bank Annual Report p.86
23 E.1 Board duties and responsibilities E.1.6.Does the board of directors have a process to review, monitor and oversee the implementation of the corporate strategy?
24 BAY Bank of Ayudhya Annual Report p.126
25 E.2 Board structure
26 E.2 Board structure E.2.1.Are the details of the code of ethics or conduct disclosed?
27 NVL Novaland Company website
28 BEL Belle Corporation Company website
29 E.2 Board structure E.2.2.Are all directors/commissioners, senior management and employees required to comply with the code/s?
30 VNM VINAMILK Code of Conduct p.9
31 BEL Belle Corporation Code of Business Conduct and Ethics
32 E.2 Board structure E.2.3.Does the company have a process to implement and monitor compliance with the code/s of ethics or conduct?
33 VNM VINAMILK Code of Conduct p.10-11
34 IRPC IRPC Public Company Limited Annual Report 2016 p.64-65
35 E.2 Board structure E.2.4.Do independent directors/commissioners make up at least 50% of the board of directors/commissioners?
36 NBB 577 Investment Corporation Annual Report 2016 p.42
37 PTT PTT Public Company Limited Annual Report 2016 p.123
38 PTT PTT Public Company Limited Annual Report 2016 p.123
39 E.2 Board structure E.2.5.Does the company have a term limit of nine years or less or 2 terms of five years 1 each for its independent directors/ commissioners?
40 5183 Petronas Chemicals Group Annual Report 2016 p.92
41 E.2 Board structure E.2.6.Has the company set a limit of five board seats that an individual independent/non-executive director/commissioner may hold simultaneously?
42 SCC Siam Cement Annual Report 2016 p.94
43 E.2 Board structure E.2.7.Does the company have any executive directors who serve on more than two boards of listed companies outside of the group?
44 SHS Saigon Hanoi Securities Annual Report 2016 p.76 Note: For SHS, these three companies are not in the Group
45 AC Ayala Corporation Annual CG Report 2016 p.150 Note: For Ayala, Integrated Micro-Electronis, Bank of the Philippine Islands, Manila Water Company are not in the Group structure
46 E.2 Board structure E.2.8.Does the company have a Nominating Committee? E Does the company disclose the terms of reference/ governance structure/charter of the Nominating Committee?
47 VNM VINAMILK Annual Report 2016 p.73
48 MC MC Group Annual Report 2016 p.54
49 E.2 Board structure E.2.9.Is the Nominating Committee comprised of a majority of independent directors/commissioners? E Is the chairman of the Nominating Committee an independent director/commissioner?
50 MC MC Group Annual Report 2016 p.54
51 MC MC Group Annual Report 2016 p.33
52 E.2 Board structure E.2.12.Is the meeting attendance of the Nominating Committee disclosed and if so, did the Nominating Committee meet at least twice during the year?
53 VNM VINAMILK Annual Report 2016 p.73
54 MC MC Group Annual Report 2016 p.38
55 E.2 Board structure E.2.22.Does at least one of the independent directors/commissioners of the committee have accounting expertise (accounting qualification or experience)?
56 VIC VINGROUP Annual Report 2016 p.38
57 VIC VINGROUP Annual Report 2016 p.38
58 1066 RHB Bank Annual Report 2016 p.32
59 E.2 Board structure E.2.23.Is the meeting attendance of the Audit Committee disclosed and, if so, did the Audit Committee meet at least four times during the year?
60 VNM VINAMILK Annual Report 2016 p.116
61 MC MC Group Annual Report 2016 p.38
62 E.2 Board structure E.2.24.Does the Audit Committee have primary responsibility for recommendation on the appointment, and removal of the external auditor?
63 TCM Thanh Cong Textile Garment Company Charter Article 36.1.a
64 SCC Siam Cement Annual Report 2016 p.99
65 E.3 Board processes
66 E.3 Board processes E.3.1.Are the board of directors meeting scheduled before the start of financial year?
67 VNM VINAMILK Annual Report 2016 p.68
68 DHG DHG Pharma Annual Report 2016 p.111
69 TU Thai Union Corporation Annual Report 2016 p.99
70 E.3 Board processes E.3.2.Does the board of directors/commissioners meet at least six times during the year? E.3.3.Has each of the directors/commissioners attended at least 75% of all the board meetings held during the year?
71 VJC Vietjet Aviation Annual Report 2016 p.81
72 MC MC Group Annual Report 2016 p.38
73 E.3 Board processes E.3.4.Does the company require a minimum quorum of at least 2/3 for board decisions?
74 SSI Saigon Securities Incorporation Company Charter Article 37.11
75 EGCO ELECTRICITY GENERATING PLC Annual Report 2016 p.271
76 E.3 Board processes E.3.5.Did the non-executive directors/commissioners of the company meet separately at least once during the year without any executives present?
77 MC0 Global Logistics Properties Annual Report 2016 p.57
78 E.3 Board processes E.3.6.Are board papers for board of directors/commissioners meetings provided to the board at least five business days in advance of the board meeting?
79 BAY Bank of Ayudhya Annual Report 2016 p.128
80 E.3 Board processes E.3.7.Does the company secretary play a significant role in supporting the board in discharging its responsibilities?
81 BAY Bank of Ayudhya Annual Report 2016 p.132
82 E.3 Board processes E.3.8.Is the company secretary trained in legal, accountancy or company secretarial practices and has kept abreast on relevant developments?
83 BVS Bao Viet Securities Annual Report 2016 p.44
84 BAY Bank of Ayudhya Annual Report 2016 p.203
85 E.3 Board processes E.3.9.Does the company disclose the criteria used in selecting new directors/commissioners?
86 K11 Keppel Telecommunications and Transportation Annual Report 2016 p.143
87 E.3 Board processes E.3.10.Did the company describe the process followed in appointing new directors/commissioners?
88 K11 Keppel Telecommunications and Transportation Annual Report 2016 p.143
89 E.3 Board processes E.3.11.Are all directors/commissioners subject to reelection every 3 years; or 5 years for listed companies in countries whose legislation prescribes a term of 5 years 2 each?
90 Z59 Yoma Strategic Holdings Annual Report 2016 p.50
91 E.3 Board processes E.3.12.Does the company disclose its remuneration (fees, allowances, benefit-in-kind and other emoluments) policy/practices (i.e. the use of short term and long term incentives and performance measures) for its executive directors and CEO?
92 MC0 Global Logistics Properties Annual Report 2016 p.69-71
93 MC0 Global Logistics Properties Annual Report 2016 p.69-71
94 MC0 Global Logistics Properties Annual Report 2016 p.69-71
95 E.3 Board processes E.3.13.Is there disclosure of the fee structure for nonexecutive directors/commissioners?
96 MC0 Global Logistics Properties Annual Report 2016 p.66-67
97 MC0 Global Logistics Properties Annual Report 2016 p.66-67
98 E.3 Board processes E.3.15.Does the company have measurable standards to align the performance-based remuneration of the executive directors and senior executived with long-term interests of the company, such as claw back provision and deferred bonuses?
99 U14 UOL Group Annual Report 2016 p.48
100 E.3 Board processes E.3.16.Does the company have a separate internal audit function?
101 VCB VIETCOMBANK Annual Report 2016 p.27
102 U11 United Overseas Bank Annual Report 2016 p.97
103 E.3 Board processes E.3.17.Is the head of internal audit identified or, if outsourced, is the name of the external firm disclosed?
104 SSI Saigon Securities Incorporation Annual Report 2016 p.26
105 MC MC Group Annual Report 2016 p.70
106 E.3 Board processes E.3.18.Does the appointment and removal of the internal auditor require the approval of the Audit Committee?
107 MC MC Group Annual Report 2016 p.70
108 E.3 Board processes E.3.19.Does the company establish a sound internal control procedures/risk management framework and periodically review the effectiveness of that framework?
109 BVH Bao Viet Holdings Annual Report 2016 p.320
110 BVH Bao Viet Holdings Annual Report 2016 p.320
111 1295 Public Bank Annual Report 2016 p
112 1295 Public Bank Annual Report 2016 p
113 MC0 Global Logistic Properties Annual Report 2016 p.34
114 E.3 Board processes E.3.20.Does the Annual Report/Annual CG Report disclose that the board of directors/commissioners has conducted a review of the company's material controls (including operational, financial and compliance controls) and risk management systems?
115 BID BIDV Annual Report 2016 p This image cannot currently be displayed.
116 TU Thai Union Group Annual Report 2016 p.86
117 E.3 Board processes E.3.21.Does the company disclose the key risks to which the company is materially exposed to (i.e. financial, operational including IT, environmental, social, economic)?
118 BID BIDV Annual Report 2016 p.38-39
119 BID BIDV Annual Report 2016 p.38-39
120 TU Thai Union Group Annual Report 2016 p.86
121 TU Thai Union Group Annual Report 2016 p.86
122 TU Thai Union Group Annual Report 2016 p.86
123 E.3 Board processes E.3.22.Does the Annual Report/Annual CG Report contain a statement from the board of directors/commissioners or Audit Committee commenting on the adequacy of the company's internal controls/risk management systems?
124 BAY Bank of Ayudhya Annual Report 2016 p.230
125 E.4 People on the Board
126 E.4 People on the Board E.4.1.Do different persons assume the roles of chairman and CEO?
127 SHP Southern Hydropower Annual Report 2016 p.24, 60
128 PTT PTT Public Company Limited Annual Report 2016 p.123
129 E.4 People on the Board E.4.2.Is the chairman an independent director/commissioner?
130 VJC Vietjet Aviation Annual Report 2016 p.81
131 T39 Singapore Press Holdings Annual Report 2016 p.20
132 E.4 People on the Board E.4.3.Is any of the directors a former CEO of the company in the past 2 years?
133 BEL Belle Corporation Annual CG Report 2016 p.8
134 E.4 People on the Board E.4.5.If the Chairman is not independent, has the Board appointed a Lead/Senior Independent Director and has his/her role been defined?
135 Z59 Yoma Strategic Holdings Annual Report 2016 p.31
136 E.4 People on the Board E.4.6.Does at least one non-executive director/commissioner have prior working experience in the major sector that the company is operating in?
137 PAN The PAN Group Annual Report 2016 p.168
138 EGCO Electricity Generating PCL Annual Report 2016 p.81
139 MC0 Global Logistics Properties Annual Report 2016 p.46
140 E.5 Board Performance
141 E.5 Board Performance E.5.1.Does the company have orientation programmes for new directors/commissioners?
142 HCM Ho Chi Minh City Securities Annual Report 2016 p.68
143 4707 Nestle Annual Report 2016 p.13
144 E.5 Board Performance E.5.2.Does the company have a policy that encourages directors/commissioners to attend on-going or continuous professional education programmes?
145 HCM Ho Chi Minh City Securities Annual Report 2016 p.68
146 SVC Saigon General Service Corporation Annual Report 2016 p.72
147 E.5 Board Performance E.5.3.Does the company disclose the process on how the board of directors/commissioners plans for the succession of the CEO/Managing Director/President and key management?
148 BAY Bank of Ayudhya Annual Report 2016 p.130
149 E.5 Board Performance E.5.4.Does the company disclose the process on how the board of directors/commissioners plans for the succession of the CEO/Managing Director/President and key management?
150 SCC The Siam Cement Annual Report 2016 p.95
151 E.5 Board Performance E.5.5.Did the company conduct an annual performance assessment of the board of directors/commissioners and disclose the criteria and process followed for the assessment? E.5.6.Did the company conduct an annual performance assessment of the individual directors/commissioners and disclose the criteria and process followed for the assessment? E.5.7.Did the company conduct an annual performance assessment of the board committees and disclose the criteria and process followed for the assessment?
152 IRPC IRPC Public Company Limited Annual Report 2016 p.58
153 IRPC IRPC Public Company Limited Annual Report 2016 p.58
154 IRPC IRPC Public Company Limited Annual Report 2016 p.58
155 IRPC IRPC Public Company Limited Annual Report 2016 p.58
156 THANK YOU Dr. Nguyen Thu Hien and Assessment team ASEAN Corporate Governance Scorecard 2017 Project
Company Name Caritas Life Financial year end 2014 Sector. Insurance Company Structure Class 1. default. default. default
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D.1.2 Does the company disclose the direct and indirect (deemed) shareholdings of major and/or substantial shareholders?
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