Ayala Land receives four-arrow distinction at ASEAN Corporate Governance Scorecard Recognition Night
Ayala Land, Inc. (ALI) was recognized for its corporate governance practices as it was again named one of the top-performing Philippine publicly listed companies (PLCs) under the 2018 ASEAN Corporate Governance Scorecard (ACGS). ALI received the four-arrow recognition, the highest distinction given to a Philippine company this year and conferred to companies which garnered a score of 110 to 119 points. ALI was one of only six Philippine companies to earn the four-arrow distinction.
ALI subsidiaries Cebu Holdings Inc. and Cebu Property Ventures and Development Corporation also received two-arrow recognitions during the ACGS Philippine Recognition night hosted by the Institute of Corporate Directors (ICD).
The ACGS is a valuable tool used for the assessment and ranking of PLCs in the six participating ASEAN countries of Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Its rigorous methodology, benchmarked against international best practices, provides foreign investors and external fund managers with comparable information from which to base their investment decision-making process.
It is also an instrument that demonstrates ASEAN members’ commitment to sound corporate governance, which in turn helps to increase foreign direct investments into the region. The ACGS is an initiative of the ASEAN Capital Markets Forum (ACMF) that started in collaboration with the Asian Development Bank in 2011.
ALI has consistently ranked among the top companies in the ACGS through the years as it continues to practice good corporate governance in compliance with its own corporate governance manual, the code of corporate governance and all listing rules of the Philippine Stock Exchange (PSE), the Securities and Exchange Commission (SEC) and the Philippine Dealing Exchange Commission (PDEx).
Ayala Land, Inc. Senior Vice President, Chief Compliance Officer and Treasurer Mr. Augusto D. Bengzon receive the 4-arrow recognition for Corporate Governance from (L) Institute of Corporate Directors Chief Executive Officer Alfredo E. Pascual and (R) Securities and Exchange Commission Chairman Emilio B. Aquino during the 2018 ASEAN Corporate Governance Recognition Night last June 11, 2019.
