September 25, 2024 | 12:00am
MANILA, Philippines — The Institute of Corporate Directors (ICD) has recognized several listed companies for their exemplary corporate governance practices.
SM Investments Corp. (SMIC), the investment holding company of the Sy family, bagged the prestigious 5 Golden Arrow Award, the highest recognition given by the ICD during the ASEAN Corporate Governance Scorecard (ACGS) 2024 Golden Arrow Awards.
Of the five companies that received the 5 Golden Arrow Award, four were SM companies, namely SMIC, BDO Unibank Inc., China Banking Corp. and SM Prime Holdings Inc.
“This recognition reflects the commitment and hard work of our entire organization. From the board, management, our leaders and teammates – everyone consistently works to ensure we continue to adopt and uphold the highest standards in good corporate governance,” SMIC chairman Amando Tetangco Jr. said.
Believing that good corporate governance will provide the long-term growth and sustainability for the company, SMIC said that it practices the highest standards of good corporate governance in all its dealings with investors, business partners, creditors, customers, employees and all other stakeholders.
“We recognize the rising global attention on corporate governance and sustainability as part of companies’ business strategies. Beyond compliance, SM’s operations are anchored on fairness, integrity, accountability, transparency and stakeholder engagement,” SMIC chief risk and compliance officer Elizabeth Anne Uychaco said.
Diversified engineering conglomerate DMCI Holdings and its integrated energy subsidiary Semirara Mining and Power Corp. (SMPC) were recognized for the second straight year with a 3 Golden Arrow award at the ACGS Golden Arrow Awards.
Both companies have been awardees of ACGS since 2019.
“Our 3 Golden Arrow awards reflect our unwavering commitment to good corporate governance. We remain dedicated to upholding transparency, accountability and ethical business practices to protect stakeholder value and support sustainable progress,” DMCI and SMPC chairman Isidro Consunji said.
The Gotianun family’s listed property developer Filinvest Land Inc. (FLI), meanwhile, was also honored with a 2 Golden Arrow Award.
FLI said the recognition marks the third consecutive year that company has been recognized for its exemplary corporate governance practices.
As one of the Philippines’ leading full- range property developers, FLI said it continuously exemplifies transparency, accountability and equitable treatment of all shareholders.
“Receiving the 2 Golden Arrow Award is an affirmation of our relentless pursuit of good governance,” FLI president and CEO Tristan Las Marias said.
“We believe that strong corporate governance is the foundation of sustainable growth and long-term success. This honor motivates us to continue raising the bar in corporate governance practices,” he said.
The ACGS evaluates companies based on key performance areas, including the protection and equitable treatment of shareholders, fostering strong stakeholder relationships, promoting transparency and accountability through timely disclosure of material information, as well as the board’s effectiveness in providing strategic direction, overseeing management, and maintaining accountability to both the company and its shareholders.
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