Dec 2006 Financial News

DB&G wins top JSE Best Practices Award

Dec 13, 2006

Stockbrokerage house Dehring Bunting & Golding Ltd (DBG) won the Inaugural Governor-General's Award for Excellence at the Jamaica Stock Exchange's Best Practices Awards (2005) last Wednesday.

The Governor-General's Award is presented to the company which emerged with the highest number of points in the contest which recognises companies that have upheld the best practices standards in the areas of Corporate Disclosure and Investor Relations; Annual Reports; Website; and Company Performance.

The event, which is in its second year, was held at the Hilton Kingston Hotel and was initiated by the Jamaica Stock Exchange (JSE) which also uses the awards to enhance the relationship between itself and its stakeholders and create an awareness of the standards for best practices in the areas to be adjudged.
DB&G Ltd, an investment firm which listed on the JSE in 1992, also won the second place in the Annual Report and Website categories and first place in the Best Performing Company category.

Other companies which entered the winners' circle this year were:
Best Practices Annual Report:
RBTT (third place winner); GraceKennedy & Company Ltd and Bank of Nova Scotia (Ja) which tied for first place;
Best Practices Corporate Disclosure and Investor Relations:
NCB Ltd (third place); BNS (Ja) (second place); and GraceKennedy (first place);

Best Performing Companies:
Life of Jamaica (third place); Desnoes & Geddes (second place); and DB&G (first place);

Best Practices Website (Stockbrokerages):
NCB Capital Markets (third place); DB&G Ltd (second place); and JMMB (first place);

Best Practices Website (Listed companies):
Capital & Credit Merchant Bank (third place); DB&G Ltd (second place) and FirstCaribbean International Bank (first place);

Best Practices Investor Relations:
JMMB Ltd (third place) Barita Investments Ltd (second place) and First Global Financial Services Ltd (first place).

In her welcome, JSE General Manager Marlene Street Forrest pointed out that, as a result of these awards, the JSE has "had to write fewer letters in respect to non-compliance. In fact. dialogue has increased and improved". "Compliance and the quality of information in 2005 have improved in the areas of Quarterly Financial Submissions; Audited Financial Reports; Electronic Submission and Annual Reports," she said.

"We believe there is a direct correlation between the recognition that these awards provide and the improvements," Street Forrest said."While we focus on what was achieved, it is necessary to underscore that the Exchange recognises this as the beginning of a market where our focus does not reside only on our listed companies and brokers, but on large and small investors and other players internal and external to our shores that participate in the capital market."

A rigorous selection of the winners was completed over the last 10 months by an independent committee chaired by Professor Neville Ying, executive director of the Mona School of Business. Other committee members were: Christopher Bovell, attorney-at-law; Alvaro Casserly, company director; Vindel Kerr, CEO, GovStrat Ltd; John Jackson, financial consultant and publisher of the Investors' Choice; Audrey Richards, financial consultant; Dr Brian Langrin, chief economist, Bank of Jamaica; Dr Noel Reynolds, Snr lecturer, Department of Management Studies and Errol Anderson, president of the Computer Society.

Source:
Observer Reporter
The Jamaica Observer
Wednesday, December 13, 2006

http://www.jamaicaobserver.com/magazines/Business/html/20061212T190000-0500_116568_OBS_DB_G_WINS_TOP_JSE_BEST_PRACTICES_AWARD_.asp