Corporate Governance

Macerich’s (MAC) CEO Art Coppola on Q2 2018 Results – Earnings Call Transcript

Macerich Co. (NYSE:MAC) Q2 2018 Earnings Conference Call August 2, 2018 2:00 PM ET Executives Michelle Raff – AVP Corporate Governance Tom O’Hern – Senior Executive Vice President and Chief Financial Officer Doug Healey – Executive Vice President Leasing Art Coppola – Chief Executive Officer Analysts Jim Sullivan – BTIG Jeff Donnelly – Wells Fargo Alexander Goldfarb – Sandler O’Neill Michael Bilerman – Citi Michael Mueller – JPMorgan Wes Golladay – RBC Capital Markets Linda Tsai – Barclays Caitlin Burrows…

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Firm task staff, shareholders on company’s dividends

Ikeja Hotel Plc has tasked board members and shareholders of the company to ensure that their dedication and belief in the activities of the company begin to yield the desired dividend for the overall benefit of the company. The Chief Operation Officer, Mr. Theophilus Eniola Netufo, who stated this during the 41st annual general meeting of the company in Ikeja, said: “What we do is to review the financial performances of the company for one year and that gives us…

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Revocation of local banks’ licences is in public interest – BoG

By Godwill Arthur-Mensah, GNA Accra, Aug. 03, GNA — The Bank of Ghana (BoG) says the revocation of the licences of seven indigenous banks within a year was done in the overall best interest of the Ghanaian economy to redirect and re-shape the sector to deliver on its mandate. The Central Bank on Tuesday, August 1, revoked the licences of five indigenous banks including the Unibank Ghana, Construction Bank, Sovereign Bank, Royal Bank and Beige Bank to form the Consolidated…

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Calls from Delhi to banks for loans stopped: Minister – Canindia News

New Delhi, Aug 3 (IANS) Interim Corporate Affairs Minister Piyush Goyal on Friday said the government has put a stop to the practice of pressuring banks to advance loans as part of its effort to better corporate governance standards among public banks. “We are proud to say that in these four years of this government, we have stopped the phone-call thing coming in from Delhi to the banks,” Goyal said, responding to on corporate governance failures, mainly in banks, during…

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Co-op’s Hadjiyiannis under fire as committee of inquiry begins probe – In-Cyprus.com

A committee of inquiry set up to probe the collapse of the co-op launched public hearings on Friday with the two first witnesses both criticising the role of  current CEO Nicholas Hadjiyiannis when he was chairman of the board between 2013 and 2015. George Strovolides, a former non-executive member of the board of the CCB expressed his disagreement with members of the board taking on executive duties, particularly Hadjiyiannis. And Marios Clerides, who was CEO from January 2014 to September…

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Gov’t Saves GH¢1.6bn From Procurement Contracts | General News

President Akufo-Addo has revealed that the Public Procurement Authority (PPA) has saved the country some GH¢1.6 billion by simply reviewing contracts brought before it for approval under either sole sourcing or restrictive tendering in the past 18 months. Speaking at the 2018 Internal Audit Conference on Wednesday, 1st August, 2018 on the theme, ‘Leadership and Good Corporate Governance; A key to Effective Public Financial Management,” President Akufo-Addo indicated that “in the whole of 2016 the Authority made zero saving.” The…

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Once Billed as a Financial Haven in the Middle East, Dubai Turns Investors Wary

DUBAI—Investors are questioning whether Dubai’s young financial center can police itself as the meltdown of its marquee private-equity firm highlights broader concerns about placing money in the region. This emirate’s top regulator, the Dubai Financial Services Authority, has been close to silent since allegations emerged that Abraaj Group misused hundreds of millions of dollars in investors’ money, including that of the Bill and Melinda Gates Foundation and the World Bank. It has issued two short statements, seized some laptops… Source…

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Myanmar launches new companies law to adapt to current age –China Economic Net

Myanmar has instituted a new companies law after amendment of its outdated Companies Act-1914 to adapt to the current age, registering an important milestone with its measures of promoting foreign investment. The new Myanmar Companies Law-2017 comes into effect from Wednesday, enabling a company’s registration process to be done electronically now. All companies are set to re-register within six months from August as the law comes into effect and the re-registration process is to be completed through the Myanmar Companies…

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The Africa News.Net – Good governance is the solution to Africa problems

Africa Renewal: What is APRM’s mandate and how does it operate Prof. Maloka: We are a specialized agency created by African heads of state and governments to review each other as a way of strengthening governance. We are based in Midrand, South Africa. We send teams to member countries to compile comprehensive reports on governance. We focus on four areas: democracy and political governance, economic governance and management, corporate governance and socioeconomic development. But recently we were asked to also…

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“Don’t destroy our future” Miss Patty

Print Thursday 2nd August, 2018 Accra, Aug. 2, GNA – Miss Inna Maryam Patty, Chief Executive Officer of Exclusive Events, organizers of Miss Ghana beauty pageant has appealed to Margaret Dery, winner of ‘Miss Ghana 2017’ not to destroy the image, brand and future opportunities of the beauty pageants. Miss Dery on Monday through the media resigned from the pageantry and with utterances and unsubstantiated allegations against Accra, Aug. 2, GNA – Miss Inna Maryam Patty, Chief Executive Officer of…

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CEO pay can be linked to slow wage growth, but does that make it theft?

By Julie Walker Posted August 03, 2018 05:00:00 Photo: Executive pay and its relativity to average earnings is becoming an issue important to any corporation’s social licence to operate. (Reuters: Denis Balibouse) Related Story: Executives still rake in bonuses despite underperformance Related Story: ‘You actually can’t run a fine dining restaurant and be profitable and keep all of your staff happy’ Last week the Australian Council of Superannuation Investors released its latest annual survey of CEO pay for the ASX200,…

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Lamb Weston: Everything Plus A Valuation – Part 1 – Lamb Weston Holdings, Inc. (NYSE:LW)

This article is part one of a multi-part series on Lamb Weston Holdings. Part one contains discussions on its business, the industry, and corporate governance. Part two will be valuation heavy, and the subsequent sections will deal with its financials. SUMMARY Lamb Weston (LW) is a global leader in frozen potato production and distribution. With production facilities ranging from Russia to Washington State, LW has a global footprint. Its global expansion has given LW significant presence in both domestic and…

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uniBank Shareholders Bought Estates With Bank’s Monies | Banking/Finance

It has emerged that shareholders of uniBank used monies from the bank to acquire estate properties in their own names. According to the central bank “uniBank’s shareholders and related parties admitted to acquiring several real estate properties in their own names using the funds they took from the bank under questionable circumstances”. The governor of the Bank of Ghana, Dr. Ernest Addison made the disclosure after revoking the licenses of five banks—uniBank, Sovereign Bank, Construction Bank, Royal Bank, and Beige…

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Japan’s MUFG post best Q1 in 7 years, helped by stock…

Japan’s MUFG post best Q1 in 7 years, helped by stock holdings sale By Reuters Published: 04:08 EDT, 2 August 2018 | Updated: 04:08 EDT, 2 August 2018 By Taiga Uranaka TOKYO, Aug 2 (Reuters) – Mitsubishi UFJ Financial Group reported the best first-quarter profit in seven years on Thursday, helped by sales of equity holdings and gains from clawing back provisions that had been set aside in the past for potential bad loans. Japan’s largest lender by assets said…

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DEALTALK-Khazanah’s investment playbook set for revamp…

By Anshuman Daga and Liz Lee KUALA LUMPUR, Aug 2 (Reuters) – Malaysia’s Khazanah Nasional will likely cut stakes in some top state-linked firms as the government overhauls the sovereign wealth fund’s investment strategy, after revamping its board last week, to boost transparency and slash national debt. The performance of the $39 billion fund has been muted, but backed by past governments, its investments have spread across various sectors globally, with one of the highlights being its profitable stake in…

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