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10 SM Companies Honored For Excellence In Corporate Governance

10 SM Companies Honored For Excellence In Corporate Governance
Photo shows from left to right: Institute of Corporate Directors (ICD) chairman and lawyer Cesar L. Villanueva; SM Investments Corporation chairman of the board Amando M. Tetangco, Jr.; ICD vice-chair and president Ma. Aurora D. Geotina-Garcia; Securities and Exchange Commission chairperson and lawyer Emilio B. Aquino.

Ten companies from the SM Group were recognized for their excellence in corporate governance in the recently concluded Golden Arrow Awards by the Institute of Corporate Directors (ICD).

China Banking Corporation (China Bank), the banking arm of SM Investments Corporation (SM Investments), bagged the highest five-arrow recognition for two years in a row. SM Prime Holdings, Inc., SM Investments’ property business, also attained its second five-arrow award. 

SM Investments, BDO Unibank, Inc. (BDO), and Belle Corporation (Belle) notched four-arrow awards. The companies feted with the three-arrow recognition were 2GO Group, Inc., and Belle’s subsidiaries, Pacific Online Systems Corporation (POSC) and Premium Leisure Corporation. The other awardees from the Group were Atlas Consolidated Mining and Development Corporation and the APC Group, Inc.

“This honor inspires us to continue advocating best practices in corporate governance in serving our stakeholders and communities,” said SM Investments chairman of the board Amando M. Tetangco, Jr.

The SM Group has been a consistent recipient of the Golden Arrow Award from the ICD since 2018. This year’s performance has solidified the group’s commitment in upholding the highest standards of corporate governance as one of the most awarded conglomerates with 10 of its companies recognized.

ICD’s Golden Arrow recognition is awarded to publicly listed companies in the Philippines based on the ASEAN Corporate Governance Scorecard (ACGS) assessment results.

Established in 1999, the Philippine ICD has been a staunch advocate to establishing and promoting international standards of good corporate governance in the country alongside its regional counterparts.