Awards

Overview

The Corporate Governance Excellence Award is initiated to raise awareness of the benefits of greater transparency and accountability to stakeholders and to encourage companies to comply with the Code of Corporate Governance.

The OCGS Awards recognize the important contribution governance professionals make in terms of best practices that build and sustain shareholder and stakeholder value. The CG Award underscores the value and role of Public companies, and that many of the general principles of CG can be applied to PCs, SOEs and NFPs to improve their performance.

Objectives

The Corporate Governance Excellence Award seeks to  creates awareness ; encourage and recognize the achievements and excellence in management acumen, financial performance, corporate social responsibility, environmental practices and investor relations, of Public Listed Companies, Boards and management teams. Through the Awards, OCGS aims to provide shareholders, both institutional and retail, with a window into good CG practices at Oman SAOGs.

The aims of the Award are as follows:

  • Creating a benchmark for outstanding companies to serve as a recognised role model for good Corporate Governance
  • Incentivising better corporate governance standards through recognition. Recognizing excellence and rewarding distinguished organisations.
  • Build a culture of openness and transparency
  • Encourage Compliance with the code of Corporate Governance
  • Enhance local and foreign investment.
  • Driving improved performance among listed companies, through management’s accountability to use better business and governance models.

Returns on Participants

Benefits for winners

the winners will be recognized in an official ceremony attended by senior government officials and members of the private sectors and the media.

In addition, they will have the following benefits:

  • Media publicity where the winners’ names and logo will be shared with all media outlets.
  • Permission to use the award title and logo on winners; website and other marketing materials.

Benefits for participants

Participants who do make it to the finishing line will be presented with a certificate of participation and a brief diagnostic report of a shortcomings in their corporate governance practices with a view to enhance them for the next edition of the award. They will also be invited attend the award ceremony

The categories

Oman Centre for Governance and Sustainability classifies the Awards into the 3 sectors .

  1. Banking  & Finance Sector:

    This category honors the best 3 organizations, in terms of corporate governance practices. This category has 3 winners, as follows:

    • 1st Winner
    • 2nd Winner
    • 3rd Winner
  2. Industry Sector:

    This category honors the best 3 organizations, in terms of corporate governance practices. This  category has 3 winners, as follows:

    • 1st  Winner
    • 2nd  Winner
    • 3rd  Winner
  3. Service &Insurance Sector:

    This category honors the best 3 organizations, in terms of corporate governance practices. This  category has 3 winners, as follows:

    • 1st  Winner
    • 2nd  Winner
    • 3rd  Winner

Eligibility

Competing for the awards is open to all listed companies in Muscat Securities Markets.

Please note:

  • The competition is open to all public listed companies in MSM.
  • Interested companies must register to express their intent as per the application process explained below.
  • Only one application per category may be accepted for any given organization, i.e. an organization cannot compete in more than one category.
  • All of the award categories will evaluate achievements from the  year of 2014/2015.

Confidentiality

All information given in application documents will be treated as confidential and will not be shared with any third party.

Provided information may be used for further studies by OCGS.

Disclaimer

Submitting an application or competing for an award does not guarantee being granted an award.

OCGS reserves the right to withdraw an award from any applicant supplying false information within their application.

By submitting the registration form or answered questionnaire, the applicant agrees to the above terms and conditions and to subsequent terms and conditions.