CA Immo Annual Report 2008 (.pdf)

MAnAGeMent BoARD’S AlloCAtIon oF DutIeS
ettenAueR (SpeAKeR) FRoMWAlD
InVeStMentMAnAGeMent
- Austria
- eastern and Southeast europe (CA Immo International)
- Holding Management Germany
ASSetMAnAGeMent
- portfolio management
- project development/technology
- project organisation
MAxIMuM tRAnSpARenCy: tHe Key to
MAIntAInInG tHe CoMpAny’S VAlue
the effects of the global banking and financial
crisis continue to ripple outwards. the property
crisis that began in the uSA early in the summer of
2007 (then known as the subprime crisis) initiated a
world-wide series of liquidity bottlenecks, incurred
losses and the bankruptcy of international financial
institutions. even the banks stopped lending money
to each other.
In 2008, the crisis became one of trust. the closure
of hedge funds and the losses incurred by investment
banks led to a lack of faith in the financial
system as well as greater reluctance to take risks
amongst private and institutional investors, a development
that impacted on all stock exchanges.
even companies in fundamentally healthy positions
found themselves faced with steep share price
drops.
In such tough times, measures aimed at restoring
faith in the capital market and increasing and
enhancing transparency will be essential if market
players are to maintain faith in a functioning financial
system.
Corporate governance embraces all national and
international values and principles that determine
FInAnCe AnD ACCountInG
ContRollInG
peRSonnel/It AnD oRGAnISAtIon
IR AnD CApItAl MARKet ACtIVItIeS
CoRpoRAte CoMMunICAtIonS
leGAl AFFAIRS
CoRpoRAte GoVeRnAnCe
good and responsible corporate management. At
CA Immo, good corporate governance means guaranteeing
management that is accountable, competent,
transparent and focused on long-term success, and
which serves the company and its owners as well as
external interest groups – in other words, management
that serves all stakeholders. In practical terms,
CA Immo implements these principles by means of
clear corporate communications, effective corporate
management that focuses on sustainable and longterm
value creation, target-oriented collaboration
between the Management Board and Supervisory
Board and a willingness to take measured risks. the
overriding objective is to uphold the interests of all
stakeholders with a view to consolidating trust in
the company – and the main means of achieving
this is to maximise transparency, the key criterion
in terms of traceability of property valuation in any
real estate company. In this regard, CA Immo has
been rated the most transparent real estate corporation
in Austria according to the transparency
rating for real estate companies determined by Feri
Rating & Research AG. the full study is published
at http://frr.feri.de/de/aktuelle-ratingergebnisse/
anlageprodukte/immobilienaktiengesellschaften.
aspx.
CoRpoRAte GoVeRnAnCe
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