Sateri Holdings Limited, one of the world’s leading producers of wood pulp cellulose and viscose staple fiber, recently earned a fourth consecutive award for its business practices from the prestigious business publication Capital Weekly. The magazine, based in Hong Kong, regularly presents its Listed Enterprise Excellence Award to companies operating in its administrative region. In 2014, only 18 companies out of a total of 1,500 met the publication’s criteria for success in general business strategy, dedication to corporate social responsibility, and best practices in corporate governance and investor relations. Sateri is one of the companies operated under the $15 billion RGE Group, founded by Sukanto Tanoto, one of Indonesia’s most prominent businessmen.
The Capital Weekly award only recognizes companies performing at the top of their game. For example, in 2010, international sports apparel manufacturer China Dongxiang (Group) Co., Ltd., received the award, as did NVC Lighting Holding Ltd., also one of the world’s leaders in its field. In 2012, the Hong Kong-based utility Towngas earned its second consecutive Capital Weekly award in acknowledgement of its 150 years of providing a reliable and safe source of energy for the region. In 2013, Luk Fook Holdings (International) Limited, which maintains more than 1,300 retail shops worldwide, was among the companies so honored.
This year, Sateri shared the Capital Weekly acknowledgement with several notable corporations, such as e Lighting Group Holdings Limited, a leading Hong Kong-based designer and seller of furniture and lighting products established in 2003.
At the time of the award, Sateri had recently announced a move toward a more focused business strategy by selling off its viscose staple fiber operations. The company will concentrate on its dissolving wood pulp business, particularly the high-value specialty grade market. Because of the very high purity of its product, and its widespread demand in a variety of industrial applications, the dissolving wood pulp division promises to deliver the best return on investment to shareholders. In addition, because of the multiple difficulties associated with entering this tightly focused market, Sateri is well positioned to increase its dominance of the industry.