AE Team | November 27, 2018
At the 2nd ASEAN Corporate Governance Awards held in Kuala Lumpur last November 21, Aboitiz Equity Ventures and AboitizPower were among named among the public listed companies (PLCs) to make it to the Top 50 ASEAN PLCs. AEV and AP were recognized for achieving excellence in corporate governance best practices based on the ASEAN Corporate Governance Scorecard (ACGS) assessment in 2017.
It will be recalled that both Aboitiz companies also placed in the top 10 in a list of 247 Philippine PLCs as ranked by the Institute of Corporate Directors back in July using a set of comparable standards, which articulates recommendations on policies and practices based on good governance principles of the Organization for Economic Cooperation and Development (OECD).
At the inaugural ASEAN Corporate Governance Awards back in 2015, the first time the top 50 companies were announced since the inception of ACGS in 2012, AEV was also recognized as among the best in the region following assessment in five key areas, namely: rights of shareholders, equitable treatment of shareholders, the role of stakeholders, disclosure and transparency, and responsibilities of the board.
The Top 50 ASEAN PLCs comprised 14 PLCs from Malaysia, 11 PLCs from Thailand, 9 PLCs from the Philippines, 12 PLCs from Singapore. and 4 PLCs from Indonesia.