Axelum Resources Corp., a listed coconut products trader, said it has secured a Golden Arrow recognition from the Institute of Corporate Directors during the ACGS Golden Arrow Awards Night.
Recipients of the Golden Arrow are measured for exhibited conformance with the Philippine Code of Corporate Governance and internationally-recommended corporate governance practices espoused by the ASEAN Corporate Governance Scorecard, or ACGS.
The scorecard is composed of 184 questions across five key principles including rights of shareholders, equitable treatment of shareholders, role of stakeholders, disclosure and transparency and responsibilities of the board.
“We are deeply humbled to be recognized as one of the champions of good governance in the country. This is a strong testament of our commitment to adhere to the highest standards of corporate transparency and integrity in the conduct of business. As an organization, we are fortunate to be comprised of like-minded individuals who believe in the purpose of upholding best practices,” Romeo I. Chan, the company’s chairman and CEO, said.
The ASEAN Corporate Governance Scorecard is an initiative by the ASEAN Capital Markets Forum, a high-level grouping of capital market regulators from all Southeast Asia jurisdictions, to establish a structured assessment methodology aligned with international governance benchmarks based on disclosed information.
The scorecard aims to encourage publicly-listed companies from among ASEAN participating members, to adopt the principles of corporate governance to promote inclusive economic growth and raise investor attractiveness within the ASEAN region.
