A total of six listed companies and a non-listed brokerage took top honours in the JSE Best Practices Awards for their performance in 2008, with Pan Caribbean Financial Services and Scotia DBG Investments Limited sharing the trophy.

The companies on the Jamaica Stock Exchange (JSE) are adjudged each year on how well they adhere to international benchmarks and for the insights they provide into their financial affairs, governance practices and business activities (see insert for awardees).

This year, however, awards committee chairman Professor Neville Ying said at the awards presentation on December 8 that he was disappointed, not with the participation levels in the entire awards as originally reported - which he said had improved - but that two categories failed to garner interest from the majority of listed firms.

The award is in its fifth season.

"Of the 43 listed companies, only 14 took the opportunity to fill out the questionnaires. This represents a mere 33 per cent of all listed companies," said Ying, referring to the corporate disclosure/ investor relations category.

Get involved

"We are calling on the corporate secretaries to become more engaged in the process and ensure that their company has a fair chance of copping this award."

The responses to the corporate governance questionnaires were not much better, with 24 per cent of companies responding.

"Ladies and gentlemen, of the listed companies which are not participating, we are using this medium to appeal to you tonight, to get involved in the process for your companies' sake," Professor Ying said.

The corporate disclosure and investor relations award is given to companies that make timely and accurate reports and announcements to the JSE, and is intended to encourage them to maintain good investor relations with the wider investing public.

First Global Financial Services Limited was the only non-listed firm to cop a prize in a category created solely for brokerages - there are eleven currently recognised as members of the JSE — called 'investor relations - brokerage'.

The awards were presented in eight categories, with the PSOJ/JSE Award for Corporate Governance being a new addition.

"I encourage those companies that did not get an award tonight, to strive for excellence and to seek to implement best practices in all aspects of your organisations so that next year you will be deservedly positioned in the middle of the winner's enclosure," said Ying.

Marlene Street-Forrest, general manager of the JSE, said the awards were about ensuring the future.

"Best practices is a lived experience as we commit to getting it right. We must always be looking for ways to do better than our previous best."

avia.collinder@gleanerjm.com

Marlene Street-Forrest, general manager of the Jamaica Stock Exchange, presents the JSE Best Practice Award for Corporate Disclosure/Investor Relations to Chris Williams, managing director of NCB Capital Markets Limited, at the awards ceremony held at the Jamaica Pegasus Hotel, New Kingston, on December 8, 2009. The category got weak participation with only 14 of 43 eligible companies returning questionnaires. - photos by Colin Hamilton/freelance photographer

JSE Best Practices 2008 Awards

Governor General's Trophy

Pan Caribbean Financial Services Ltd

Scotia DBG Investments Ltd

Best Performing Company

Montego Freeport Ltd

Corporate Governance

Sagicor Life Jamaica Ltd

Corporate Disclosure/Investor Relations

NCB Capital Markets Ltd

Investor Relations - Brokerage

First Global Financial Services Ltd

Annual Report

Pan Caribbean Financial Services Ltd

Website - Brokerage

NCB Capital Markets Ltd

Website - Listed Company

Trinidad Cement Ltd