Home>Specials>Business>Ayala group hits bull’s-eye with prized ‘golden arrows’

Ayala group hits bull’s-eye with prized ‘golden arrows’

Golden Arrows

MANILA — All nine listed business units of the Ayala group received coveted corporate governance distinctions from the Institute of Corporate Directors at the recently held Golden Arrow Awards.

The Golden Arrow Awards recognizes exemplary corporate governance performance based on the ASEAN Corporate Governance Scorecard (ACGS) for publicly listed companies and Corporate Governance Scorecard (CGS) for insurance companies. A company may get 1 golden arrow up to 5 golden arrows depending on ACGS and CGS scores.

Ayala Land and Globe received 5 golden arrows (equivalent to 120 to 130 points); ACEN and IMI received 4 golden arrows (equivalent to 110 to 119 points); Ayala Corporation, Ayala Land Logistics Holdings Corp., and BPI received 3-golden arrows (equivalent to 100 to 109 points); AREIT and ENEX received 2 golden arrows (equivalent to 90 to 99 points)and 1 golden arrow (equivalent to 80 to 89 points), respectively.

In addition, BPI’s insurance companies were also recognized under the insurance companies category. BPI–AIA Life Assurance Corporation received 3 golden arrows and BPI/MS Insurance Corporation received 1 golden arrow.

“We thank the Institute of Corporate Directors for recognizing Ayala’s efforts in promoting a culture of good governance across the group,” said Atty. Solomon Hermosura, Corporate Governance Group Head. “We continue to strengthen our commitment to the highest standards of corporate governance by aligning our own governance practices with regional and global standards.”

The ACGS provides a rigorous methodology benchmarked against international best practices to assess the corporate governance performance of publicly listed companies of participating ASEAN member countries.

The scorecard aims to raise the corporate governance standards and practices of the country and to make well-governed Philippine publicly listed companies attractive to investors.

Journal Online
A collection of noteworthy information on various topics from the Philippines and the rest of the world.