News
Issue No. 29 - June/July 2006
Snapshots
Top 100 SA 2006 research launched
The Top 100 SA 2006 Company Index research is officially underway with the release due to be announced at a lunchtime function on 29 September 2006. “We have had a much more prompt response this year in relation to completion of questionnaires that have been sent out and this is a true indication of the way in which the SA business community now recognise the significance of this research undertaking,” says the research director Max Franchitto, “We are still very much in development mode and we are interested in hearing from companies that qualify to participate in the table. And being a Top 100 company has become an increasingly valuable marketing tool.” Enquiries should be directed to marketing101@mgf.com.au or call Max Franchitto on 08 8363 3901. Major sponsor BankSA is is continuing their sponsorship for the third consecutive year.
Santos chief slams compliance
Santos chairman Stephen Gerlach told shareholders at the resource giant's AGM last month the “correct balance of substance over form” in terms of government regulation is badly wrong, with compliance now having serious and unnecessary cost consequences. “Over the last five years there has been an ever increasing number of new regulatory and governance issues to address which are adding significantly to corporate costs and board and management time, often for little apparent value to shareholders,” Stephen said. “Much of that has been a response to dishonest conduct or excess in the management of a relatively small number of companies in Australia and overseas. Most listed companies, such as Santos, are well run with honesty and integrity but are subjected to that response.” A significant amount of new governance laws and regulations included increased disclosure, significant changes to the financial report method and IFRS detail, all of which made it harder to inform sh...
