SM companies were recognized during the Asean Corporate Governance Scorecard (ACGS) Awards held last month.
SM Investments Corp., SM Prime Holdings Inc., BDO Unibank Inc., China Banking Corp., 2Go Group Inc. and Belle Corp. were all recognized among the top-performing companies in the Philippines as part of the ASEAN Asset Class.
The ACGS, hosted by the Institute of Corporate Directors Philippines, is an initiative to recognize the valuable efforts of publicly listed companies in the region to elevate the standards of corporate governance in their respective industries.
“We are humbled by this recognition that further affirms our holistic approach to raising the standards of good corporate governance across our businesses,” SMIC President and CEO Frederic C. DyBuncio said in a statement.
China Bank, SMIC and SM Prime were named among the ASEAN Top 20 Awardees. China Bank, for its part, was also named among the top three publicly-listed companies in the Philippines.
It marks two consecutive years that China Bank has garnered one out of the three highest scores among publicly-listed companies in the country.
The ACGS is a collaborative effort between the Asean Capital Markets Forum and the Asian Development Bank, intended to secure that the corporate governance climate in Asean countries remain competitive and conducive to the growth of businesses the region.