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Tuesday, December 4, 2007

Naim Cendera leads the way for property sector

KUCHING: Naim Cendera Holdings Bhd (NCSB) a Sarawak-based property and construction group has been ranked No 1 in the property sector category of the Corporate Governance Survey Report 2007. Last year, NCSB ranked second in the same sector. The company has been listed on the Main Board of Bursa Malaysia for less than four years.

“We are extremely pleased to have raised our standards to achieve the highest ranking in the property sector in this survey,” said Naim Cendera Holdings Bhd deputy managing director Dr Sharifuddin Abdul Wahab in a statement recently.

The Corporate Governance Survey Report 2007 is a joint effort between the Minority Shareholders Watchdog Group (MSWG) and The University of Nottingham (Malaysia Campus) Business School. It covers the top 350 companies (by market capitalisation) on Bursa Malaysia. NCSB came in 12th in the overall ranking across all sectors, an improvement from its 20th
ranking last year.

“Although the companies ranked above Naim Cendera are mostly financial institutions and/or GLCs who have been long-established on Bursa Malaysia, NCSB aspires to break into the Top 10 in the foreseeable future,” said Sharifuddin.

The companies are ranked based on a wide range of corporate governance criteria, with special emphasis on board composition, independence of directors, transparency and accountability and auditing practices.

Listed since September 2003, NCSB is among the only 10.29% of companies that provides detailed disclosure of directors’ remuneration.

NCSB focuses on integrated property developments, combining residential, commercial and industrial properties, and contracting of construction, civil engineering and infrastructure projects. Projects by NCSB include Bandar Baru Permy Jaya in Miri, Desa Ilmu and Riveria in Kota Samarahan, with more than 23,000 homes and commercial buildings. NCSB is also a
Class A Bumiputera Contractor with ISO 9001:2000 certification. NCSB is also active in manufacturing, trading and distribution of building materials.

By theSun

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