Mercator Lines wins Singapore Corporate Awards

Mercator Lines (Singapore) Limited, a subsidiary of Mercator Lines Limited, has won Singapore Corporate Awards 2009 (SCA), in two categories viz; Best Annual Report Award (Bronze) in the $300 million to less than $1 billion market capitalisation category as well as the Best Annual Report Award (Silver) in the Newly-Listed Companies category. The award was presented to Mr. Shalabh Mittal, Managing Director and CEO, Mercator Lines (Singapore) Limited on April 23rd 2009.

Historically, it is for the first time that an Indian owned company has received such recognition. It has not only boosted company's image but has also brought India on Singapore's landscape of corporate governance, industry sources revealed.
This is one of the five awards which make up coveted Singapore Corporate Awards, others being the Best Managed Board, Best Chief Executive Officer, Best Chief Financial Officer, and Best Investor Relations. The SCA's are organised by Singapore's leading business publication house Business Times and supported by Singapore Exchange; there are several other partners to the organizers; ranging from professional institutions to academia to consulting firms.

The Best Annual Report Award is given on the basis of quality and timely disclosures of financial highlights, Industry report, corporate governance report, risk management reporting and several other factors through two-stage screening process by high powered panel of judges.
We are delighted that our Singapore subsidiary has won this coveted award in two categories within the first year of their listing, the awards reaffirm Mercator's commitment towards high corporate governance standards said Mr H.K.Mittal, Chairman, Mercator Lines Limited.
It's a matter of great satisfaction and pride that an Indian company's subsidiary has achieved this honour despite stiff competition in Singapore concludes Mr Mittal Mercator Lines Limited, the second largest private sector shipping company in India (by aggregate fleet tonnage capacity), has global presence through its subsidiaries. The group has diversified interests and is a strong player in Tankers, Bulk Carriers, Dredging, Coal
Mining; Logistics and Offshore and presently owns or operates a fleet of 1 Rig; 12 dry carriers; 12 tankers and 4 dredgers.

Source:Transportweekly