7 SM firms bag 10 ASEAN corporate governance awards

Published February 8, 2021, 2:57 PM

by James A. Loyola

Seven members of the SM Group of Companies, led by flagship SM Investments Corporation (SMIC), clinched 10 awards for their high scores in the recently concluded 2019 ASEAN Corporate Governance Scorecard (ACGS) assessments.

For the 2019 ACGS Assessment, three award categories were recognized: Top 20 ASEAN Publicly Listed Companies, ASEAN Asset Class Award and Top 3 Publicly Listed  Companies per Country.

“We are grateful for the honor. We strive to ensure a responsible business for the benefit of our various stakeholders,” SMIC Chairman Jose T. Sio said

Under the ASEAN Asset Class Award, cited were SMIC, SM Prime Holdings, Inc. (SM Prime), 2GO Group, Inc., BDO Unibank, Inc., Belle Corporation, China Banking Corporation (China Bank) and Premium Leisure Corporation.

China Bank and SM Prime were named under Top 20 ASEAN Publicly Listed Companies. China Bank was recognized among the Top 3 Publicly Listed Companies per Country.

The ASEAN Capital Markets Forum (ACMF) in partnership with the Asian Development Bank have jointly developed the ACGS, an assessment based on publicly-available information and benchmarked against international best practices on corporate governance.

Through the years, the ACGS has been a driving force in underpinning good corporate governance practices among publicly listed companies.