Megawide Construction Corporation (“Megawide” or the “Company”) once again earned distinction at the Institute of Corporate Directors (ICD) Golden Arrow Recognition Ceremony held on Tuesday, October 23 at Okada Manila, reaffirming its commitment to sound corporate governance and ethical leadership.
The Golden Arrow Award recognizes top-performing, publicly-listed and insurance companies based on the 2024 ASEAN Corporate Governance Scorecard (ACGS) and Corporate Governance Scorecard (CGS) assessment results.
Megawide was honored with Two Golden Arrows, corresponding to an ACGS score of 90 to 99 points, a demonstration of the Company’s consistent adherence to best governance practices and its continuous drive to strengthen transparency, accountability, and stakeholder engagement.
Driving good governance for a First-World Vision
This milestone is Megawide’s fifth straight year of recognition from the ICD, having first received its Two Golden Arrows distinction in 2021 alongside the citation as Most Improved Publicly Listed Company in Corporate Governance.
“As a publicly-listed infrastructure company, Megawide recognizes that good governance is the foundation for sustainable growth,” shared Chief Legal Officer Atty. Raymund J. Gomez. “We continue to work closely with regulators, investors, and our partners to ensure that the values of transparency and integrity are deeply embedded across all aspects of our operations.”
Megawide’s commitment to excellence and strong governance culture continues to earn recognition on both local and regional platforms.
In FinanceAsia’s 2025 Best Managed Companies Poll, Megawide garnered several honors for leadership, governance, and sustainability. Chairman and CEO Edgar Saavedra was named Best CEO (Gold) for his visionary and innovative leadership, while Group CFO Jez Dela Cruz received Best CFO (Silver) for financial excellence and strategic execution. The Company was also cited as Best Managed Company (Silver), Most Committed to ESG (Silver), and Best Small Cap (Silver). These show the Company’s integrated approach to performance, innovation, and responsible business practices.
Governance across the group
Megawide’s corporate governance framework extends across all its subsidiaries and affiliates, including major infrastructure assets. Citicore Energy REIT Corp. (CREIT), a related company, was likewise recognized at the Golden Arrow Awards for its exemplary corporate governance practices.
“Corporate governance begins within the organization. It is how we ensure that our decisions, actions, and partnerships align with our vision of building a First-World Philippines,” added Gomez.
The ASEAN Corporate Governance Scorecard (ACGS) evaluates listed companies based on shareholder rights, stakeholder relations, transparency and disclosure, and board responsibilities, fostering integrity and trust across the region’s capital markets.
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