IN A REMARKABLE display of corporate excellence, all nine listed entities within the Ayala Group have been bestowed with prestigious corporate governance distinctions by the Institute of Corporate Directors (ICD).
The coveted accolades were conferred as part of the ICD’s esteemed Golden Arrow Awards, which recognize exceptional corporate governance performance, as assessed through the Asean Corporate Governance Scorecard (ACGS) for publicly listed firms and the Corporate Governance Scorecard (CGS) for insurance companies.
The Ayala Group’s stellar performance underscores its unwavering commitment to fostering a culture of good governance across its diverse portfolio.
The Golden Arrow Awards are a testament to the Ayala Group’s dedication to upholding the highest standards of corporate governance. The awards are allocated based on the ACGS or CGS score, with companies receiving one to five Golden Arrows, signifying their governance prowess. This year’s results reflect the Ayala Group’s unyielding commitment to excellence:
1. Ayala Land and Globe, the standouts of the Ayala Group, received a remarkable five Golden Arrows, equivalent to an outstanding score of 120 to 130 points.
2. ACEN and IMI earned four Golden Arrows, securing an impressive score ranging from 110 to 119 points.
3. Parent Ayala, AyalaLand Logistics Corp., and BPI garnered three Golden Arrows, highlighting their dedication to maintaining a solid governance foundation, with scores ranging from 100 to 109 points.
4. AREIT and ENEX clinched two and one Golden Arrow, respectively, showcasing scores ranging from 90 to 99 points and 80 to 89 points.
Additionally, the Ayala Group’s commitment to excellence extends to its insurance companies within BPI. BPI-AIA Life Assurance Corporation secured three Golden Arrows, while BPI/IMS Insurance Corporation received one Golden Arrow, further strengthening the group’s overall governance performance.
The ACGS, a rigorous benchmarking methodology aligned with international best practices, assesses the corporate governance performance of publicly listed companies in participating ASEAN member countries. Its primary aim is to elevate corporate governance standards in the Philippines and make well-governed publicly listed companies more appealing to investors.
Solomon M. Hermosura, Ayala Corporation’s Corporate Governance Group Head, expressed gratitude to the Institute of Corporate Directors for recognizing Ayala’s relentless efforts in promoting a culture of good governance across the conglomerate. Hermosura emphasized the group’s ongoing commitment to aligning its governance practices with regional and global standards.
Established in 1999, the Institute of Corporate Directors stands as a national and international beacon for corporate governance. ICD believes that good corporate governance is integral to a country’s global competitiveness and plays a pivotal role in corporate profitability and growth. Regulatory authorities and governments alike acknowledge its paramount importance, making it a requirement for companies of all sizes.
The Institute of Corporate Directors is a member of the Global Network of Director Institutes (GNDI), maintains collaborative relationships with global organizations specializing in corporate governance, including the Organization for Economic Co-operation and Development (OECD), the Asian Development Bank (ADB), the International Finance Corporation (IFC), and the ASEAN Capital Markets Forum (ACMF)./PN
