Ayala group has once again topped the list of publicly listed companies with the highest standards in good governance.
Ayala Corporation, Ayala Land, Inc. and Manila Water Company were recognized as Platinum Plus awardees during yesterday’s Annual Dinner staged by the Institute of Corporate Directors (ICD).
The Platinum Plus Award is given to companies who have been part of the Gold circle for four consecutive years.
Bank of the Philippine Islands also achieved Gold standing this year joining the category of companies with 95% and above ratings.
Silver citations were also given to Globe Telecom, Integrated Micro-Electronics, Inc., and ALI subsidiary Cebu Holdings Inc. with scores ranging from 90 to 94%.
Evaluation was based on the companies’ practices pertaining to shareholder rights, equitable treatment of shareholders, role of stakeholders, disclosure and transparency, and board responsibilities.
“Our experience in the Ayala group, being an enterprise that has been operating for the past 178 years, affirms that good governance is imperative in creating a sustainable enterprise over the long term,” said Jaime Augusto Zobel de Ayala, Chairman and CEO.
This year’s corporate governance scorecard evaluated a total 196 publicly-listed firms yielding an average score of 76%.