THE Commonwealth Property Office Fund (ASX: CPA) has won the top gong at the Asia Pacific Real Estate Association's Best Practices Awards 2012.
CPA won in the Mature Markets category and Sunway REIT in the Emerging Markets category.
Highly Commended awards were conferred to GPT in the Mature Markets category, and Axis REIT in the Emerging Markets category.
“We are delighted with the level of best practices demonstrated by the companies who submitted for the awards this year. We continually encourage members to adopt the most up-to-date valuation techniques, adhere to international financial reporting standards and follow good corporate governance,” APREA chairman Lim Swe Guan said.
APREA CEO Peter Mitchell said these awards highlight the importance of the recommendations in APREA’s Best Practices Handbook, which has emerged as a clear benchmark for the region for managing and reporting performances since it was first published in 2009.
Property Review