AYALA Land, Inc. (ALI) was again named one of the top performing Philippine publicly listed companies (PLC) under the 2018 ASEAN Corporate Governance Scorecard (ACGS).
The property giant received the four-arrow recognition, the highest distinction given to a Philippine company this year and given only to companies which garnered a score of 110 to 119 points. There were only six Philippine companies to secure the four-arrow distinction.
ALI subsidiaries Cebu Holdings Inc. and Cebu Property Ventures and Development Corporation also received two-arrow recognitions under the ACGS.
The ACGS is a tool used to assess and rank PLCs in six ASEAN countries of Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. It is also an instrument that demonstrates ASEAN members’ commitment to sound corporate governance, which in turn helps to increase foreign direct investments into the region.
The ACGS is an initiative of the ASEAN Capital Markets Forum (ACMF) that started in collaboration with the Asian Development Bank in 2011.