COMPANIES listed on the stock exchange were recognized for closely observing the standards of corporate governance based on the recent ASEAN Corporate Governance Scorecard (ACGS) assessment.
In separate press releases, SM Investments Corp., Converge Information and Communications Technology Solutions, Inc., and D&L Industries, Inc. said they received Golden Arrow awards given out by the Institute of Corporate Directors (ICD).
ICD is a non-stock, non-profit national association of corporate directors and other stakeholders engaged in corporate governance, while ACGS measures the performance of the companies in five areas.
These areas are facilitating the rights of shareholders, how companies relate to stakeholders, transparency and accountability, how their board guides their company strategically, and their boards’ accountability.
Only 85 out of 260 local publicly listed companies scored at least 80 points when the regional assessment was conducted.
Nine companies of the SM group were awarded Golden Arrows by ICD. These are China Banking Corp., SM Investments Corp., SM Prime Holdings, Inc., BDO Unibank, Inc., Belle Corp., 2GO Group, Inc., APC Group, Inc., Premium Leisure Corp., and Atlas Consolidated Mining and Development Corp.
“We are grateful for this recognition that reflects our strong corporate governance culture across our ecosystem of businesses,” SM Investments President and Chief Executive Officer Frederic C. DyBuncio said.
Meanwhile, D&L Industries’ 2022 Golden Arrow award is its third corporate governance recognition in three succeeding years.
“We see it as an important foundation in achieving sustainable growth and business longevity. We continue to look for ways to further improve our existing practices and align it with the best-in-class corporate governance practices,” D&L President and Chief Executive Officer Alvin D. Lao said.
Broadband provider Converge is only a year old in the stock exchange when it received the Golden Arrow award. It received the highest scores in the areas of the role of stakeholders and disclosure and transparency.
“This recognition is significant because it is a testament that despite being a relatively new publicly-listed company, we already espouse internationally-recommended corporate governance best practices and we advocate and act as champions of good corporate governance,” Converge SVP and Corporate Compliance and Data Protection Officer Laurice Esteban-Tuason said. — Justine Irish D. Tabile