Corporate Center

Aboitiz team leaders train in corporate governance

A total of 38 Aboitiz Equity Ventures and AboitizPower team leaders attended the 2015 Annual Aboitiz Corporate Governance Seminar last March 25 at NAC Tower, Taguig City.

The seminar is an annual governance training mandated by the Securities and Exchange Commission for publicly listed companies.

The 2015 Aboitiz Annual Corporate Governance Seminar, which was conducted in partnership with the Institute of Corporate Directors (ICD), is a commitment of AEV and AboitizPower to not only comply with regulatory requirements, but also to further enhance the directors’ and officers’ knowledge of emerging corporate governance practices, the ASEAN Corporate Governance Scorecard and other risk and governance issues. The boards and members of senior management actively participated in the discussion.

Ricardo Jacinto, President and Chief Executive Officer (CEO) of ICD, briefed participants on the ASEAN Corporate Governance Scorecard (ACGS) and other regulatory updates. Another speaker, Dante M. Briones, chairman and CEO of solar energy firm SasonbiSolar, discussed cyber security and IT governance developments.

Frank D. Numann, an independent anti-bribery consultant, discussed fraud, whistleblowing, anti-bribery, and anti-corruption, sharing a broad plan for an effective Anti-Bribery and Corruption Program.

Jaime Feliciano, PPP (Public-Private Partnership) Transport Specialist at the Asian Development Bank, and Edgardo Saravia, Program Manager of the International Finance Corporation (IFC) PPP Advisory Program for East Asia and Pacific, jointly shared their expertise on PPP projects. Feliciano also gave a rundown of PPP projects in the pipeline.

KEY TAKEAWAYS

ASEAN Corporate Governance Scorecard
• AEV and AboitizPower performed well in the 204 ASEAN Scorecard assessment.
• However, there are corporate governance practices that AEV and AboitizPower can still improve.

Cyber Security and IT Governance
• There are increasing threats to cyber security.
• IT governance is a board-level issue that must also be firmly enfoced on all levels of management.

Fraud, Whistleblowing, Anti-bribery, and Anti-corruption
• It is crucial for the AEV and AboitizPower boards to prepare action plans to prevent fraud and continue asking tough questions, always challenging the status quo
• It is also crucial to actively hold senior management accountable for company results.