The evaluation criteria of ACGS have been developed from the principles of excellent corporate governance from The Organization for Economic Cooperation and Development (OECD), International Corporate Governance Network (ICGN), Asian Corporate Governance Association (ACGA), and the Code of Corporate Governance of certain countries, including Australia, England, and more. Companies that were evaluated with the ACGS standard are the top 100 companies in the ASEAN community with the highest market capitalisation value as of April 30 annually, and are required to have public information in English. The assessor is the corporate governance expert of each country. The evaluators in Thailand comprise of the Thai Institute of Directors Association (IOD), which uses a criteria divided into 5 categories: 1. Rights of Shareholders, 2. Equitable Treatment of Shareholders, 3. Role of Shareholders, 4. Disclosure of Information and Transparency, and 5. Responsibilities of the Board of Directors.
On this note, the assessment of excellent corporate governance of qualifying companies in the ASEAN region is a project partially operated under the care of The ASEAN Capital Markets Forum (ACMF), also known as ACMF Corporate Governance Initiatives. The initiative discloses the level of corporate governance quality of listed companies in the ASEAN region. It aims to promote more efficient corporate governance in the region, establish corporate governance standards and performance standards for capital market indexes to be comparable to the international level and to be recognised by international investors. Furthermore, it aims to support the liberalisation of ASEAN Economic Community. The ASEAN countries that participated in the assessment include Thailand, Malaysia, Singapore, The Philippines, Indonesia, and Vietnam.
Source: Krungthai Card