FIVE publicly listed companies (PLCs) from the Lopez Group were again recognized by the Institute of Corporate Directors (ICD) for strong corporate governance on October 23 at the Golden Arrow Awards held in Makati City.
First Gen Corporation and Lopez Holdings Corporation each received three Golden Arrows, First Philippine Holdings Corporation (FPH) and ABS-CBN Corporation each received two Golden Arrows and Rockwell Land Corporation received one Golden Arrow. PLCs underwent independent assessment based on the ASEAN Corporate Governance Scorecard (ACGS).
The ACGS measures the performance of the companies in the areas of facilitating the rights and equitable treatment of shareholders, sustainability and resilience, how they relate to their different stakeholders, ensuring transparency and accountability through timely disclosure of material information, and how the board guides the company strategically, monitors the management and ensures the board’s accountability to the company and the shareholders. The scorecard is composed of 193 questions based on publicly available disclosures on the companies’ websites.
According to the ICD, the ACGS “aims to raise the corporate governance standards and practices of the country and to make well-governed Philippine PLCs attractive to investors.”
The Lopez Group hauled a total of five Golden Arrow Awards received for the PLCs by (l-r) Marvin Payumo of ABS-CBN; Atty. Rachel Hernandez of First Gen and FPH;
Atty. Lianne Bacorro of FPH; Atty. Jose Javier Bautista of First Gen; Ellen Almodiel of Rockwell Land; Atty. Maria Amina Amado of Lopez Holdings; and Mike Villanueva,
Melanie Teodoro and Cindy Estojero of ABS-CBN
