SM Companies Clinch 7 Awards as Frontrunners in ASEAN Corporate Governance
7 Awards for Corporate Governance: Mr. Hans T. Sy, Chairman of the Executive Committee at SM Prime Holdings and concurrently Chairman of China Banking Corporation and Adviser to the Board at SM Investments Corporation (third from right) led the team that received seven (7) ASEAN Corporate Governance awards in Kuala Lumpur, Malaysia.
With him are (from left): Mr. Marvin Perrin Pe, Risk Officer of SM Prime; Ms. Ma. Chimene Alvarez, CG Compliance Officer of China Bank; Atty. Aileen Paulette De Jesus, Chief Compliance Officer of China Bank; Mr. Wellington Palmero, Chief Risk and Compliance Officer of SMIC; and Mr. Reginald Tiu, Senior Assistant Vice President for Corporate Governance at SMIC.
(27 November 2018. Pasay City, Philippines) SM Investments Corporation (SMIC), SM Prime Holdings, Inc. (SM Prime) and China Banking Corporation (China Bank) won seven awards for leadership and best practices in ASEAN Corporate Governance during the 2nd ASEAN Corporate Governance Awards held on November 21, 2018 in Kuala Lumpur, Malaysia.
Out of the Top 50 ASEAN publicly-listed companies awarded, SM Prime, SMIC and China Bank placed prominently with SM Prime seizing a spot in the Top 10 while SMIC and China Bank were counted among the Top 30.
Based on the ASEAN Corporate Governance Scorecard (ACGS), which assesses good practices that aim to protect firms from financial crises and lead to greater capital market development, SM Prime, SMIC and China Bank were given high honors, securing the prestigious Top 3 spots in the Philippines.
SMIC also received a citation as among the Top 2 Most Improved Publicly-Listed Companies in the Philippines as it continues to recognize the vital role that a strong corporate governance culture plays in its businesses.
The 2nd ASEAN Corporate Governance Awards was hosted by the Minority Shareholders Watch Group, an independent corporate governance research and monitoring organization in the capital markets based in Kuala Lumpur.
The ASEAN corporate governance initiative comprising the Asean Corporate Governance Scorecard and the ranking of corporate governance practices of ASEAN publicly-listed companies (PLCs) is one of the regional initiatives under the ASEAN Capital Markets Forum which aims to raise corporate governance standards and practices of ASEAN PLCs and enhance the visibility and investability of well-governed ASEAN firms.