Satyam Ranks Best in 3 Investor Relations Award Categories
April 14th, 2008 Leave a comment Visited 21 times, 1 so far today
Honors include region and industry’s best “Earnings Release and Financial Disclosure Procedures”; region’s best “Corporate Governance Practices” and “IR Website”
Hyderabad, India, April 14, 2008: Satyam Computer Services Ltd. (NYSE:SAY), a leading global consulting and IT services provider, announced today that it has retained its eminent position in MZ Consult’s 2008 Investor Relations Global Rankings for the Asia, Pacific, and Africa Region.
The organization earned awards in the following categories:
* IR Website: Top 5 in region
* Corporate Governance Practices: Top 5 in region
* Financial Disclosure Procedures: Top 5 in region; First in Technology; and First in India
The awards are not new to Satyam. The organization has been in the Top 5 in the Earnings Release and Financial Disclosure category in the Asia, Pacific, and Africa region for three consecutive years, and in the Top 5 of the region’s Corporate Governance category for two straight years.
“The company’s continuous pursuit of excellence in corporate governance practices and financial disclosure procedures was recognized by the 10th annual edition of the IR Global Rankings, in which it was victorious in all categories,” said MZ Consult CEO Rodolfo Zabisky. “It gives us enormous pleasure to honor Satyam for the fifth consecutive year.”
The Global IR Rankings were based on a comprehensive methodology developed by MZ Consult, an investor relations and financial communications firm. The ranking entails extensive research by several respected companies and investors, and is supported by The Bank of New York Mellon, NYSE Euronext, KPMG, Arnold & Porter, Bloomberg, PR Newswire, and Demarest & Almeida. The annual survey, which began in 1999, now includes 160 companies from 32 countries.
“At Satyam, we are committed to simplifying and solving complex business problems,” said Srinivas Vadlamani, Satyam’s Chief Financial Officer.”These awards recognize this commitment to keeping the market and our investors informed, having our financial information be clearly and easily understood by stakeholders, and complying with increasingly strict regulatory environments. Additionally, our high rankings show that we are committed to being a responsible corporate citizen that leverages best practices wherever possible.”
The criteria for Earnings Release and Financial Disclosure Procedures include operating information, income statement, balance sheet, cash flow analysis, guidance, and distribution/dissemination. Analysis was based primarily on the quality of information provided in participating organizations’ quarterly financials and earnings releases.
The Best Corporate Governance Practices ranking highlights the company’s capabilities in creating, maintaining, and managing value, while balancing stakeholder interests. Evaluation considered management accountability to promote the alignment of interests of shareholders and managers; performance of the board of directors in supervising the setting of the company’s executive management and long-term goals; and minority shareholder protection, capital structure and other policies, transparency, and equality.
About Satyam
Satyam (NYSE: SAY), a leading global business and information technology services company, delivers consulting, systems integration, and outsourcing solutions to clients in 20* industries and 61* countries.
Satyam leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance. The company’s 49,199* professionals excel in engineering and product development, supply chain management, client relationship management, business process quality, business intelligence, enterprise integration, and infrastructure management, among other key capabilities.
Satyam development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve 630* clients, including more than one third of the Fortune 500. For more information, see www.satyam.com.
*As of Dec. 31, 2007
Satyam Contacts
For clarifications, write to us at MediaRelations {at} Satyam(.)com
Or contact our global PR representatives at:
India Vishwesh Iyer vishwesh.iyer {at} ogilvy(.)com>
+91-98200 53697
US Siobhan Aalders Siobhan.Aalders {at} ogilvypr(.)com
+1-212-880 5341, +1 347 387 0733
Europe Clare Gibbins clare.gibbins {at} uk.ogilvypr(.)com
+44-20-7309 1037
Asia-Pacific Reshma Wad Jain, Reshma {at} wer1(.)net
+65 6737 4844, +65 981 40507
Simon Murphy, simon {at} howorth.com(.)au
+61 (02) 8281 3826
Safe Harbor
This press release contains forward-looking statements within the meaning of section 27A of Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Satyam undertakes no duty to update any forward-looking statements. For a discussion of the risks associated with our business, please see the discussions under the heading “Risk Factors” in our report on Form 6-K concerning the quarter ended December 31, 2007, furnished to the United States Securities Exchange Commission on January 28, 2008 and the other reports filed with the Securities Exchange Commission from time to time. These filings are available at http://www.sec.gov.
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