Top 15 Companies Cited for Corporate Governance

Manila Bulletin, April 23, 2009 | Go to article overview
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Top 15 Companies Cited for Corporate Governance


The Institute for Corporate Governance (ICD), as the premier organization in the Philippines specialized in professionalizing the practice of good corporate governance, recently held the 4th Corporate Governance (CG) Scorecard Project in the Garcia Villa, Manila Peninsula, Makati, to recognize the efforts of 15 top performing publicly-listed companies (PLC) whose corporate boards have successfully directed their respective businesses. The awardees were chosen after the assessment of 169 PLCs.The top 15 companies are: Aboitiz Equity Ventures, ABS-CBN Broadcasting Corp. & Subsidiaries, Ayala Corporation, Ayala Land Inc., Bank of the Philippine Islands, Cebu Holdings, Inc., Cebu Property Ventures and Dev. Corp., Centro Escolar University, Energy Development Corporation, First Philippine Holdings Corp., Globe Telecom, Manila Water Company Inc., Petron Corporation, Phil. Long Distance Telephone Company, and Semirara Mining Corporation.The companies were declared as the top scorers according to the criteria prescribed in the CG Scorecard as follows: Rights of Shareholders, Equitable Treatment of Shareholders, Role of Stakeholders, Disclosure & Transparency, and Board Responsibilities. These companies have grasped the fundamental importance of good corporate governance by attracting investment and raising their market value. The Corporate Governance Scorecard project piloted by the ICD encourages other companies in the country and in the region to implement good corporate governance which ultimately represents optimism and the pursuit of a healthy business environment.ICD Chairman Dr. Jesus Estanislao says the foundations for globally-competitive corporations are laid in the boardroom, because governance policies help ensure that companies place the interests of their shareholders at the heart of their deliberations and decisions.

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Top 15 Companies Cited for Corporate Governance
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