Awards for Baycorp keep pouring in

Friday 8th December 2000

Following on from being named a top Australasian company by Merrill Lynch, Baycorp Holdings (NZSE: BCH) has now received further awards from the Asian Wall Street Journal and the National Business Review.

The Asian Wall Street Journal along with research company Holt Value Associates named Baycorp today as the best value creator in Asia among smaller cap companies - the second time in a row Baycorp has received this award.

Keith McLaughlin, Managing Director of Baycorp, says the recognition bestowed on Baycorp is remarkable given the relatively strong recovery of many Asia economies over recent years.

"Baycorp's ability to translate its core competencies and competitive strengths into new service areas and regions, means it is well placed to play a significant role in the Asia/Pacific region," he says.

New Zealand's National Business Review also recognised Baycorp's stellar performance of late. Along with L.E.K. Consulting, an international strategy consulting firm, the NBR awarded Baycorp a gold ranking in its Shareholder Scoreboard Hall of Fame. This is the third consecutive year Baycorp has gained this ranking.

Mr McLaughlin says that Baycorp embraces a simple philosophy of continuous improvement, constantly seeking ways to improve its operations and quality of services it provides. He also says that he is confident of Baycorp's continued ability to maximise returns to shareholders by maintaining excellence in its financial and operational performance.

These two awards prove that some commentators are misinformed in recommending that New Zealanders invest their money overseas. Indeed, if the Asian Wall Street Journal and the National Business Review are anything to go by, it would appear that some of the world's best companies are actually right here in New Zealand.

Baycorp was up 19 cents on the NZSE today, closing at $11.90.

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