August 25, 2017 Karachi Lucky Cement Limited (psx: LUCK) won the Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountants of Pakistan (ICMAP) award for Best Corporate Award 2016 in the Sugar and Cement category. Syed Noman Hasan, Executive Director, Lucky Cement Limited received the award at the “Best Corporate and Sustainability Report 2016” award ceremony held recently in Karachi at a local hotel.
ICAP and ICMAP have been organizing the Best Corporate Report (BCR) Awards ceremony since the year 2000. This award has been instrumental in encouraging entities to follow transparency in preparing their annual reports according to the international best practices. The objective of the Awards is to encourage the publication of timely, accurate, informative and well-presented annual reports for investors, regulators, and other stakeholders who may have an interest in the performance and activities of the organizations in question and to recognize and honor those organizations for the exemplary achievement in producing such reports.
Speaking of the occasion, Syed Noman Hasan, Executive Director, Lucky Cement Limited, said, “Transparency and accountability are essential to an organizations larger objective of continuing economic growth efforts in the country. To receive this award speaks volumes about the reporting and documentation methodologies followed at Lucky Cement, keeping in mind effective Corporate Governance policies.” He further added,
“Our aim is to continue producing high quality reports so that our stakeholders are well informed of our business performance.”
Lucky Cement received this award based on having the best corporate practices and governance in the cement and sugar sector. The primary criteria for this award emanates from best Corporate and Management practices reflected by stringent policies for IT, whistle-blowing, social responsibility, investor grievances and safety records at the company. Furthermore, full disclosure of Board member profiles, audit report, and relevant committee meeting minutes provided firm grounds for winning the award.
About the Company
Lucky Cement Limited (LCL) is the flagship company of the Yunus Brothers Group, which has a solid history of exceptional growth performance since its inception in 1993. LCL is one of the largest producers and leading exporters of quality cement in Pakistan, with a production capacity of 7.75 million tons per annum. The Company is listed on the Pakistan and London stock exchange.
LCL’s manufacturing plants are strategically located in Northern and Southern regions of the country and is the only cement company to have its own loose cement export terminal at Karachi port with storage capacity of 24,000 tons.
Lucky Cement is an ISO 9001:2008 and 14001:2004 certified company and possesses many other international certifications including Bureau of Indian Standards, Sri Lankan Standard Institute, Standards Organization of Nigeria, Kenya Bureau of Standards and South African Bureau of Standards.