ABS-CBN Corporation was again honored for its good corporate governance alongside other top organizations in the Philippines in the ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards.
Just like in 2018, ABS-CBN was the only media company that made it among the outstanding domestic publicly-listed companies that performed well in the ACGS in 2019.
The ACGS is an assessment tool used in six participating countries of the Association of Southeast Asian Nations (ASEAN) including the Philippines, Indonesia, Malaysia, Singapore, Thailand, and Vietnam to determine if an organization is being managed well and is compliant with government regulations.
The goal is to improve the corporate governance standards and practices of publicly-listed companies.
Among the factors considered are the rights of shareholders, equitable treatment of shareholders, role of stakeholders, disclosure and transparency, responsibilities of the board, as well as bonus and penalty in organizations.
Aside from ABS-CBN, other companies from the Lopez Group were also recognized at the Golden Arrow Awards. These are Lopez Holdings Corporation and First Gen Corporation.
The ACGS Golden Arrow Awards is organized by the Institute of Corporate Directors, a non-stock, not-for-profit organization dedicated to the professionalization of Philippine corporate directorship.