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Satyam Computer Services Ltd. (NYSE:SAY), a leading global consulting and IT services provider, announced today that it has retained its eminent position in MZ Consult’s 2008 Investor Relations Global Rankings for the Asia, Pacific, and Africa Region.
The organization earned awards in the following categories:
• IR Website: Top 5 in region
• Corporate Governance Practices: Top 5 in region
• Financial Disclosure Procedures: Top 5 in region; First in Technology; and First in India
The awards are not new to Satyam. The organization has been in the Top 5 in the Earnings Release and Financial Disclosure category in the Asia, Pacific, and Africa region for three consecutive years, and in the Top 5 of the region’s Corporate Governance category for two straight years.
“The company’s continuous pursuit of excellence in corporate governance practices and financial disclosure procedures was recognized by the 10th annual edition of the IR Global Rankings, in which it was victorious in all categories,” said MZ Consult CEO Rodolfo Zabisky. “It gives us enormous pleasure to honor Satyam for the fifth consecutive year.”
The Global IR Rankings were based on a comprehensive methodology developed by MZ Consult, an investor relations and financial communications firm. The ranking entails extensive research by several respected companies and investors, and is supported by The Bank of New York Mellon, NYSE Euronext, KPMG, Arnold & Porter, Bloomberg, PR Newswire, and Demarest & Almeida. The annual survey, which began in 1999, now includes 160 companies from 32 countries.
“At Satyam, we are committed to simplifying and solving complex business problems,” said Srinivas Vadlamani, Satyam’s Chief Financial Officer.”These awards recognize this commitment to keeping the market and our investors informed, having our financial information be clearly and easily understood by stakeholders, and complying with increasingly strict regulatory environments. Additionally, our high rankings show that we are committed to being a responsible corporate citizen that leverages best practices wherever possible.”
The criteria for Earnings Release and Financial Disclosure Procedures include operating information, income statement, balance sheet, cash flow analysis, guidance, and distribution/dissemination. Analysis was based primarily on the quality of information provided in participating organizations’ quarterly financials and earnings releases.
The Best Corporate Governance Practices ranking highlights the company’s capabilities in creating, maintaining, and managing value, while balancing stakeholder interests. Evaluation considered management accountability to promote the alignment of interests of shareholders and managers; performance of the board of directors in supervising the setting of the company’s executive management and long-term goals; and minority shareholder protection, capital structure and other policies, transparency, and equality.
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