Cindy Estojero, Mike Villanueva and Marvin Payumo of ABS-CBNFour publicly listed companies (PLCs) from the Lopez Group were recognized by the Institute of Corporate Directors for good corporate governance on Sept. 19 at the Golden Arrow Awards held in Pasay City.

ABS-CBN Corporation, First Gen Corporation, First Philippine Holdings Corporation and Lopez Holdings Corporation were among 136 organizations honored. PLCs underwent independent assessment based on the 2023 ASEAN Corporate Governance Scorecard (ACGS), while insurance companies were assessed using the Corporate Governance Scorecard (CGS).

The ACGS and CGS measure the performance of the companies in the areas of facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability through timely disclosure of material information, and how the board guides the company strategically, monitors the management and ensures the board’s accountability to the company and the shareholders.

The scorecard is composed of 184 questions based on publicly available disclosures on the companies’ websites. It aims to raise the corporate governance standards and practices of the country and to make well-governed Philippine PLCs and insurance companies attractive to investors.

FPH’s Lorraine Dychiao and First Gen’s Jose Javier Bautista

Milani Caimol and Carla Paras-Sison of Lopez Holdings Corporation

(Story By Carla Paras-Sison)