Selecting the winners of Treasury Today’s Adam Smith Awards Asia is always a highlight of our year. This year’s winners, recently announced by Treasury Today Group’s Sophie Jackson, Publisher & Head of Strategic Content, and Meg Coates, Publisher & Head of Operations, are no exception.
Nominations poured in with over 400 submissions from 23 countries. Above all, this year’s winners showcase the role of treasury as a strategic partner, constantly challenged to deliver better and more innovative solutions to support corporate growth in Asia’s fast growing, innovative and best- known companies.
For example, the award for Treasury Today Asia’s Top Treasury Team 2022 given to Indian multinational Infosys Ltd. Treasury at the IT group has undergone a transformation over the last two years, successfully delivering a package of solutions spanning FX and working capital management, investment management and cash flow forecasting. The sweeping digitisation and automation programme has left the company’s systems and processes stronger and minimised manual intervention.
Other winners include Lendlease Global Commercial REIT, awarded Best Sustainable Treasury Solution for a sustainability-linked loan (SLL) to finance a mall acquisition in a debt solution of SG$860m – a size that was almost as large as LREIT’s market capitalisation at that time. In the same category, Louis Dreyfus Company India scooped Highly Commended as the first corporate entity in South and South-East Asia to execute a trade ESG financing transaction for cotton procurement, focused on ensuring proper checks and balances are in place for ESG classification.
Other winners include Shanghai InnoVen Private Equity Fund Management won Best Investing Solution for its holistic investment vehicle to facilitate the entry and investment of overseas funds into the China market.
Best Foreign Exchange Solution went to Xiaomi Corporation. With an increasing global footprint, Xiaomi faced the challenge of effectively managing its exposures in multiple currencies; overseeing FX risks while remaining competitive in product pricing and honouring the company’s commitment to ‘provide the best quality at honest pricing.’
Companies including Bridgestone Asia Pacific, Olam Group Limited, and DTOne, Unilever and Kimly Construction Pte Ltd are some of our other notable winners. In a special recognition award, the treasury team at humanitarian organisation Save the Children were acknowledged for work in Pakistan.
Announcing our winners is the first step in our Adam Smith Award Asia season that will include a celebration dinner in Singapore on November 17th. As part of the 2022 awards programme, we will run a series of winner podcasts, delving deeper into each winning solution with our Overall Winners, Highly Commended Winners and their key partners. We will also produce case studies on all our award winners, which will appear on our website.
The Adam Smith Awards is globally recognised as the industry benchmark for best practice and exceptional solutions in treasury, and this year is no exception. We look forward to celebrating our winners’ achievements and to bringing our formidable community together once again.
