LEO Is First Private Company in Hong Kong to Earn HKQAA Green Finance Certificate and Complete a Green Loan
CHINA - Media OutReach - 3 September 2018 - Leo Paper Group (Hong Kong) Limited
HONG KONG, CHINA - Media OutReach - November 30, 2018 - Leo Paper Group (Hong Kong) Limited (the "Group"), one of the largest paper product manufacturers in Asia and a leading private global printing company based in Hong Kong, has announced it has won the Directors Of The Year Awards 2018 (Category: Non-listed Companies - Boards) presented by The Hong Kong Institute of Directors. The Group is the only private company to garner this Award since 2002, honouring its outstanding performance in corporate governance. The Group has also announced that its business results have reached another record high, with turnover amounting to HK$4 billion in 2018 to date.
Profit before taxation reported close to double-digit year-on-year growth over the past 20 years. Furthermore, the Group has been pursuing good corporate governance and followed a governance policy through verified and stringent monitoring procedures. Since 2003, it has voluntarily followed the requirement of the Stock Exchange of Hong Kong for listed companies to issue annual reports and, since 2009, it has held annual shareholder meetings with independent auditors. These procedures combined to make the Board deserving of this accolade presented annually by The Hong Kong Institute of Directors.
The Hong Kong Institute of Directors presented the Directors Of The Year Awards 2018 (Category: Non-listed Companies - Boards) to Mr. Samuel Leung, Chairman of the Group (2nd from left), and the Board of Leo Paper Group.
Mr. Samuel Leung, Chairman of the Group, said, "The Group is honoured to be the sole private company to receive this prestigious Award in 17 years. Since founding, the Group has developed its business in accordance with the principles of transparency, integrity and ethics, as well as consistently adhered to stringent standards in corporate governance policy. Winning the Award certainly represents recognition of our business development strategies and corporate governance philosophy over many years. On behalf of the Group, I would like to thank the Board for their farsighted leadership. Mr. King Lai, the Group's CFO and Group Director, has led the finance team to efficiently complete and sign off on the Group's annual consolidated audit report in high quality within three months over 10 consecutive years. This has driven the implementation of good corporate governance in the Group. I would also like to express my appreciation to our dedicated staff for their contributions in all aspects of our progress."
Mr. Leung added, "The Group will continue to uphold the principle of 'to the best at what we do' and enhance the efficiency and quality of all business processes so as to maximise value for customers. At the same time, the Group will continue to fulfill social responsibility and strive to protect the environment, and thereby achieve the highest business ethics standard."
Founded in 1982, Leo Paper Group was then a traditional printing company with a staff of eight. Today, it is one of the leading paper product manufacturers in Asia with a workforce of around 13,000. The scale of its production facility in Heshan is the largest single printing plant in Asia. "The Pursuit of Excellence" has always been integral to the Group's corporate culture. The Group has invested more than HK$200million in constructing an internationally-recognised Innovative Technology Centre at its Heshan plant. The new facility focuses on developing new technologies as well as creating customised products in accordance with customers' needs. Moreover, the Group has endeavoured to lower power consumption in production, conserve energy, reduce emissions and treat sewage.
In early September 2018, the Group became the first private company in Hong Kong to earn the Hong Kong Quality Assurance Agency ("HKQAA") Green Finance Certificate. It has also been granted a HK$350 Million Four-Year Green Loan Term and Revolving Credit Facility, which will be used for its 20 green technology projects that will roll out in China during the next few years. The Group's success is due to its staff upholding the same value and commitment to attaining the same goals. Hence, the Group has placed a high emphasis on vocational training and promotion of corporate culture. In 2010, it established a vocational and technical school specialising in training new staff and providing three-year training programmes to the students of local secondary schools. A total of more than 2,600 students have graduated since the establishment of the school.
The Group has adhered to the "lean manufacturing" concept over the years to build highly effective and automated production lines. Looking ahead, it will also strategically integrate its sales, production, procurement and the R&D core value chain so as to facilitate flow of information throughout the entire business operation process. As for governance, the Group has set up inter-departmental project groups to strengthen internal communication and cooperation. It manages to supervise staff at all levels with the well-structured human resources system and also regularly organises training and experience activities so that the teams thoroughly understand the Group's philosophy, values and corporate culture. At the same time, the Group has not forgotten to give back to society. Committed to building a green manufacturing system, the Group's production base in Heshan was designated as a "National Green Factory" in October this year, reflecting recognition of this achievement from the industry, customers and society.
The winning companies of the Directors Of The Year Awards 2018 presented by The Hong Kong Institute of Directors are selected based on strict and comprehensive criteria, including board composition and competencies of directors, effectiveness in strategic corporate business functions, compliance and accountability, risk and succession management, business ethics, etc.
The judging panel praised the Board of the Group for its excellent management skills, experience and perspective. These strengths have enabled it to lead all employees to uphold the same corporate values, continue its initiatives in investing resources in environmental protection and fulfilling its social responsibility, and proactively act in accordance with the listing rules to realise high standard and transparent governance. The Award thus represents a great acknowledgement of the Group's outstanding efforts over the past years.
About Leo Paper Group
Founded in 1982, Leo Paper Group is a global printing company and one of the largest paper product manufacturers in Asia. Headquartered in Hong Kong, the Group has a workforce of about 13,000 and owns advanced automatic manufacturing equipment and technology, and possesses design and production capability, enabling it to offer professional one-stop services from design, development, manufacturing, printing to secondary processing and finishing of paper products. Its products are shipped across the world, including to the U.K., the U.S., Australia and Europe.
About Directors Of The Year Awards
First launched in 2001 as the first ever such Awards organised in Asia, Directors Of The Year Awards are organised annually by the Hong Kong Institute of Directors and co-organised by the Financial Services and the Treasury Bureau of HKSAR Government, Securities and Futures Commission, and Hong Kong Exchanges and Clearing Limited.
The Awards aim to promote the importance of good corporate governance, appreciate the excellent work done by the directors and the board in terms of director's practices and corporate governance, as well as to raise the attention of all walks of life in Hong Kong to the professional-based development for excellent corporate governance and directors' functions. Awards are presented by company categories, viz Listed Companies, Non-listed Companies and Statutory/Non-profit-distributing Organisations, and by capacities, viz Executive Directors, Non-Executive Directors and Boards to recognise outstanding performance in various criterias.
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