December 16, 2015
Corporate governance plays a crucial role in building, enhancing and protecting our reputation, which we consider to be our most valuable asset. Transparency, accountability and fairness build trust from all our stakeholders, not only from our shareholders, but also from our team members, customers, lenders, regulators, partners, our host communities, and the general public.
– Erramon I. Aboitiz, President and CEO, Aboitiz Group
- AEV joins top rank publicly listed companies (PLCs) in the ASEAN region
- AEV contributes towards enhancing Philippines’ reputation as a trusted investment destination
Aboitiz Equity Ventures’ commitment to corporate governance excellence was recognized as one of the best in the region as it enters the pioneering list of the top 50 PLCs hailed in the inaugural ASEAN Corporate Governance Awards held at the Manila Polo Club, Makati City last November 14.
The prestigious award affirms the commitment of Aboitiz to good corporate governance, which is anchored on the belief that it is the sensible, appropriate and sustainable way to achieve our mission of creating long-term value for all our stakeholders. AEV was vetted among the PLCs of Indonesia, Malaysia, Singapore, Thailand and Vietnam using the ASEAN Corporate Governance Scorecard (ACGS), a set of comparable standards which articulates the good governance principles of the Organization for Economic Cooperation and Development (OECD). The ACGS is an initiative of the ASEAN Capital Markets Forum (ACMF), a body composed of the capital market regulators from the 10 ASEAN member countries.
This is the first time the top 50 companies were announced since the inception of ACGS in 2012. The award focuses the spotlight on how much importance the Aboitiz organization puts on good corporate governance across the organization. AEV President and CEO Erramon I. Aboitiz said, “We believe that transparency, accountability, and fairness builds trust from all our stakeholders, not only from our shareholders but also from our team members, customers, lenders, regulators, partners, host communities and the general public. I thank our team leaders and team members who strictly adhere to the principles of good governance in their work processes daily.”
AEV has been assessed in five key areas, namely: rights of shareholders, equitable treatment of shareholders, the role of stakeholders, disclosure and transparency, and responsibilities of the board. Following this, the AEV Legal & Corporate Services Team has been working on AEV’s alignment and compliance with the ASEAN standard.
“Through the ACGS, AEV is not only benchmarking its corporate governance framework based on international standards, it is also playing a meaningful role in establishing an international best practice in the region, and AEV has been actively contributing to this,” Atty. Jasmine Oporto, Corporate Secretary and Compliance Officer said.
Corporate governance plays a major role in building, enhancing, and protecting the good reputation of the Aboitiz organization. By raising the bar of corporate governance excellence notches higher to the ASEAN standard, AEV also contributes to the enhancement of the Philippines’ reputation as a trusted investment hub with sound business practices.
With our mission to create long-term value for all our stakeholders, the Aboitiz Group continuously adopts corporate governance best practices encapsulated in the Aboitiz Way. This has enabled us to earn both local and international honors as one of the best-managed business organizations in the Philippines and in the ASEAN region.
Last November, we received two distinguished honors in the area of corporate governance: the first, as one of the Top 50 Publicly Listed Companies in the ASEAN according to the ASEAN Capital Markets Forum (ACMF) and, second, as one of the recipients of the Bell Awards of the Philippine Stock Exchange (PSE).
ACMF cited Aboitiz Equity Ventures as among those most compliant to its ASEAN Corporate Governance Scorecard, a grading system developed based on international best practices. The Bell Award, meanwhile, is given by the PSE to publicly listed Philippine companies that exemplify good corporate governance.
Indeed, these awards give all of us who are committed to good corporate governance a reason to be proud. Beyond titles, the Aboitiz governance structure is grounded on our core values of Integrity, Teamwork, Innovation, and Responsibility, values that provide us with the compass for meeting challenges in the business landscape.
As we deliver profitable and sustainable growth for our shareholders, we also focus on maintaining a high level of corporate governance for the benefit of all our other stakeholders here and abroad. Corporate governance plays a crucial role in building, enhancing and protecting our reputation, which we consider to be our most valuable asset. We believe that transparency, accountability and fairness build trust from all our stakeholders, not only from our shareholders, but also from our team members, customers, lenders, regulators, partners, our host communities, and the general public.
While accolades sustain our Group’s long-term viability and enhance our credibility with all our stakeholders, the former contributes to a bigger goal — that of promoting our country as a good investment destination in the ASEAN region.
Thank you for your contributions to our Group’s continued success and congratulations to all!