The Myanmar Corporate Governance Scorecard 2018 is the first report of its kind in the country and assesses the performance of 24 companies in the country. It is published by the International Finance Corporation (IFC), the Securities and Exchange Commission of Myanmar, the Yangon Stock Exchange and the Directorate of Company Investment and Company Administration (DICA). The report, which assesses companies on the basis of the Association of Southeast Asian Nations (ASEAN) Corporate Governance Scorecard, reveals that Myanmar firms scored an average of 30 percent, compared to the ASEAN average of 69pc. Some Myanmar players are observed to be performing significantly above the average and listed companies are outperforming public and private ones. While noting the assessment was undertaken before the new Companies Law came into effect, it recommends companies should focus on key areas including rights of shareholders and stakeholders, improving companies’ disclosure, … [Read more...] about Myanmar produces first corporate governance scorecard
Corporate
Veggie Burger mania hits corporate America after Beyond Meat IPO
As hot corporate trends go, crypto and pot are so yesterday. Now, the rush is to get in on anything that smacks of vegetarian meat products.OK, well, maybe the frenzy isn’t quite as intense as those have been, but a few days after Beyond Meat Inc.’s stock price was frantically bid up by investors in its trading debut, food companies are rushing to get their veggie burgers to market. Tyson Foods Inc. on Monday confirmed it will introduce a meatless protein product in coming months. Tyson, to underscore the announcement, is the biggest meat processor in the US McDonald’s Corp. just began selling a veggie burger in Germany, Burger King said last week that its Impossible Whopper would go nationwide this year. In July, Whole Foods will start selling a burger made by Lightlife, a competitor to Beyond Meat. Bloomberg Intelligence predicts the Beyond Meat success will push companies like Kellogg Co., Conagra Brands Inc. and Kraft Heinz Co. to spend more on plant … [Read more...] about Veggie Burger mania hits corporate America after Beyond Meat IPO
Irish corporate watchdog begins legal action against Irish FA
Sport Ireland's state corporate watchdog has begun proceedings against Irish soccer's governing body, it said on Friday, weeks after the Football Association of Ireland's (FAI) board said it would step down in the wake of a furore over an undisclosed loan. 03 May 2019 09:36PM Bookmark DUBLIN: Ireland's state corporate watchdog has begun proceedings against Irish soccer's governing body, it said on Friday, weeks after the Football Association of Ireland's (FAI) board said it would step down in the wake of a furore over an undisclosed loan.The FAI acknowledged last month that it had broken state funding rules by failing to tell authorities about a short-term loan made to it by its former chief executive John Delaney in 2017.In a filing to Ireland's Companies Registration Office published last month, FAI's auditors Deloitte said the 98-year old association's accounts were not being properly kept, contravening two sections of Irish company law."An affidavit has been filed in … [Read more...] about Irish corporate watchdog begins legal action against Irish FA
Myanmar public companies trail behind private firms in corporate disclosure
This is the fifth Pwint Thit Sa report (Transparency in Myanmar Enterprises) undertaken by Yangon-based Myanmar Centre for Responsible Business (MCRB) in partnership with Myanmar consulting firm Yever. In 2019, the Myanmar companies with the highest transparency scores are City Mart Holdings (CMHL), First Myanmar Investment (FMI), Max Myanmar and Shwe Taung. These companies have consistently featured in the top 10 of previous Pwint Thit Sa reports and this year’s report found that all of them continue to improve their disclosures. At the other end of the scale, 108 (44 percent) of the 248 companies reviewed do not have corporate websites. Most of those these companies publish little or no corporate governance and performance data. First launched in 2014, this year’s report assesses information disclosure on the corporate websites of 248 large Myanmar enterprises, including five listed, 55 public, and 160 sizeable privately-owned companies. For the first time, it also … [Read more...] about Myanmar public companies trail behind private firms in corporate disclosure
News $0 corporate tax for Amazon, profitable giants sickens US voters
AKRON, Ohio — Colin Robertson wonders why he pays federal taxes on the $18,000 a year he makes cleaning carpets, while the tech giant Amazon got a tax rebate. His concerns about a tilted economic playing field recently led Robertson to join the Akron chapter of the Democratic Socialists of America. At a gathering this month, as members discussed Karl Marx and corporate greed over chocolate chip cookies, it was not long before talk turned to income inequality and how the government helps the wealthy avoid taxes. “One of the benefits of taxation is taking it and using it for the collective good,” said Robertson, 25, comparing his minimal income to the roughly $150 billion net worth of Jeff Bezos, Amazon’s chief executive and the world’s richest person. “He could be taxed at 99.9 percent and still have millions left over,” Robertson said, “and I’d be homeless.” It is a topic that several presidential candidates, led by Sens. … [Read more...] about News $0 corporate tax for Amazon, profitable giants sickens US voters