November 17, 2021
FOR IMMEDIATE RELEASE – As a testament to PropNex Limited’s (“PropNex”, or the “Company”, and together with its subsidiaries, the “Group”) commitment to sound corporate governance, the real estate group has won the Singapore Corporate Awards’ (SCA) Special Edition 2020/21 - Corporate Excellence and Resilience Award, at an awards luncheon graced by Guest-of-Honour, Minister Indranee, Second Minister for Finance, Minister in the Prime Minister's Office and Second Minister for National Development
This award is to recognise a total of 26 listed companies this year that have upheld best practices in corporate governance and shown leadership, innovation and resilience during the pandemic. Despite the challenging circumstances, these companies have delivered sustainable financial performance and established frameworks and policies to create long-term value for the organisation.
“It is an honour to be recognised for this inaugural corporate excellence and resilience award as our performance withstood and emerged stronger during these challenging times with COVID restrictions. PropNex has also put in place robust mechanisms to ensure that corporate governance principles are embedded in our corporate culture for fair and ethical decision-making that builds on our sustainable businesses and enables us to create long-term value more effectively. This award inspires us to continue to do even better for our clients, employees, salespersons and stakeholders,” said Mr Ismail Gafoor, Executive Chairman and CEO of PropNex.
The SCA winners are selected based on publicly available information on their corporate governance practices, benchmark corporate governance indices and analysis of financial performance. It is organised by the Institute of Singapore Chartered Accountants, Singapore Institute of Directors and The Business Times, supported by Accounting and Corporate Regulatory Authority and Singapore Exchange, and other partners include CGS, NUS Business School, Deloitte, EY, Heidrick & Struggles Inc, KPMG, PwC, Citigate Dewe Rogerson. The award goes through a rigorous three-stage process and is based on the criteria of corporate governance, financial resilience, strategic and operational excellence, people management, sustainability and digital initiatives.
This closely follows PropNex’s recognition in October 2021 at the Singapore Corporate Governance Award (Runner-up Small Cap) at the SIAS Investors' Choice Awards 2021.
The Investors’ Choice Awards (ICA) recognises excellence in companies adopting good corporate governance practices. Corporate governance plays an important role in supporting investment, specifically for retail investors in Singapore. SIAS together with its industry partners, annually rate the best performing listed companies in governance and transparency for the benefit of investors.
It was an honour for PropNex to be recognised at this hybrid event with the Opening Address by Guest of Honour - Dr. Tony Tan Keng Yam, Former President of Singapore and Chief Patron, Securities Investors Association (Singapore).
About PropNex Limited
PropNex Limited is Singapore’s largest listed group with over 10,000 sales professionals. As an integrated real estate services group, PropNex’s key business segments include real estate brokerage, training, property management and real estate consultancy.
The Group has an established presence in Singapore’s residential market, even as it continues to expand its suite of real estate services in Singapore and grow operations regionally. PropNex already has presence in Cambodia, Indonesia, Malaysia and Vietnam.
With a strong commitment to service excellence and quality, PropNex is the proud recipient of numerous accolades and is the recognized leader in real estate agency services.
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