2GO among top in ASEAN corporate governance scorecard

Published February 26, 2021, 7:30 AM

by Bernie Cahiles-Magkilat

 2GO Group, Inc., the Philippines’ largest integrated transportation and logistics provider, clinched a back-to-back win in the 2019 ASEAN Corporate Governance Scorecard (ACGS) Awards, bagging an ASEAN Asset Class Award this year.

2GO continues to be recognized as a top performing company in the ASEAN region in the corporate governance assessment, as evaluated by the ASEAN Capital Markets Forum (ACMF) Corporate Governance (CG) Working Group, through its CG experts.

“We are very grateful and proud of this recognition. 2GO is committed to the principles and best practices of corporate governance in business dealings with our shareholders and stakeholders, may it be our very own employees, vendors, customers, or investors. We ensure that 2GO conducts

business with fairness, accountability, and transparency, and we strive to keep pace with globallyrecognized best practices in corporate governance,” 2GO Chief Operating Officer Waldo Basilla said in a statement.

The objective of the ACGS is to brand ASEAN’s publicly listed companies (PLCs) with good corporate governance practices as an asset class to attract foreign investments, and to make the ACGS more inclusive.

“We are glad our organization follows a set of rules and regulations, and that it is properly governed and managed,” said 2GO President and CEO Frederic DyBuncio, adding, “We aim for the best, and definitely would want to maintain our good standing.”

2GO is among the SM firms cited, joining the ranks of SMIC, SM Prime Holdings, Inc. (SM Prime), BDO Unibank, Inc., Belle Corporation, China Banking Corporation (China Bank), and Premium Leisure Corporation.

ACGS recognizes the corporate governance achievements of PLCs from six participating ASEAN member countries, namely, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam.

In addition, 2GO also obtained a 2-Arrow Recognition at the 2019 ACGS Golden Arrow Awards, given by the Institute of Corporate Directors (ICD), the domestic ranking body of the ACGS.

The golden upward-pointing arrow symbolizes the continuing efforts of the Philippine companies to raise the level of compliance with the ASEAN corporate governance principles.