(24 February 2021. Pasay City, Philippines) Eight SM companies received Golden Arrow Awards from the Institute of Corporate Directors (ICD) for performing well in the ASEAN Corporate Governance Scorecard (ACGS), an assessment benchmarked against international best practices on corporate governance standards across the region.
The SM companies which received the awards are: SM Investments Corporation, SM Prime Holdings, Inc., China Banking Corporation, Belle Corporation, BDO Unibank, Inc., Premium Leisure Corp., 2GO Group, Inc. and Atlas Consolidated Mining and Development Corporation.
“We thank the Institute of Corporate Directors for this honor. The practice of corporate governance remains an integral part of our business and our company culture,” SMIC Chairman of the Board Jose T. Sio said during a virtual awarding ceremony held last February 19, 2021.
The recognition is given to companies with outstanding scores in the 2019 ACGS assessment. It symbolizes the continuing efforts of Philippine companies to raise the level of compliance with the ASEAN corporate governance principles.
“The environment brought about by the pandemic has heightened the challenges to business. But our values and commitment remain the same—to deliver financial sustainability while upholding fairness, accountability, transparency and to continue to make a positive impact on the environment and communities that we serve,” Mr. Sio added.
“These are unfamiliar times, and now more than ever, we believe that companies that behave responsibly will emerge resilient and be able to serve our society better,” Mr. Sio said.
About SM Investments Corporation
SM Investments Corporation is a leading Philippine company that is invested in market leading businesses in retail, banking and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.
SM’s retail operations are the country’s largest and most diversified with its food, non-food and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank and China Banking Corporation, the 6th largest bank in assets.
For more about SM, visit smicweb.smicit.com
For further inquiries, please contact:
Paul Arcenas
VP, Planning and Corporate Communications
SM Investments Corporation
E-mail: paul.arcenas@sminvestments.com