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AEV and AboitizPower among PH’s 10 best in corporate governance

Sammy Santos with Franz de la Fuente | August 3, 2018

The Aboitiz Group has been known both locally and abroad for its commitment to exemplary corporate stewardship. This was reaffirmed by the Institute of Corporate Directors (ICD) recently and named both Aboitiz Equity Ventures and AboitizPower among the top 10 performing Philippine publicly-listed companies (PLCs) in the 2017 ASEAN Corporate Governance Scorecard (ACGS). Both companies were honored at the ACGS Recognition Night held at the Tower Club in Makati City on July 31, 2018.

 

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(FROM LEFT) Atty. Joseph Trillana Gonzales, AboitizPower General Counsel and Compliance Officer; Atty. Mailene De La Torre, AEV Asst. Corporate Secretary; and Atty. Manuel Colayco, AEV Corporate Secretary and Chief Legal and Compliance Officer

 

The ICD vetted 247 Philippine PLCs 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), with particular focus on five key areas, namely: rights of shareholders, equitable treatment of shareholders, the role of stakeholders, disclosure and transparency, and responsibilities of the board.

 

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AboitizPower President & CEO Antonio Moraza and AboitizPower Coal BU President & COO Danel Aboitiz (second and third from left) are joined by the rest of the awardees representing the top 10 Philippine PLCs in the area of corporate governance.

 

AEV and AboitizPower scored at least 104.53 and 104.95 points, respectively (out of a possible 130 points) on the ACGS. Despite the overall decline in the corporate governance scores of all Philippine PLCs, both Aboitiz companies significantly improved their scores and were cited to adhere to the best practices in the key areas of equitable treatment of shareholders, the role of stakeholders, and disclosure and transparency.

 

We are honored to receive these accolades for the whole Aboitiz Group. These were achieved amidst a stricter regulatory environment and affirm the Group’s commitment to corporate governance, its strong purpose, differentiated brand, rich culture, and unwavering core values.

– Erramon I. Aboitiz
President & Chief Executive Officer
Aboitiz Group

 

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(FROM LEFT) AEV Chief Finance Officer Manuel Lozano, ARM, AEV Asst. Corporate Secretary Atty. Mailene De La Torre, AboitizPower Atty. Joseph T. Gonzales, AEV Corporate Secretary and Chief Legal and Compliance Officer Atty. Manuel Colayco, and AboitizPower Coal BU President & COO Danel Aboitiz

 

This recognition is a testament that the Aboitiz Group plays an active and meaningful role in raising the bar of corporate governance in the Philippines as it continues to benchmark its corporate governance framework on international standards and best practices in the ASEAN region.