All 9 listed Ayala firms recognized for exemplary governance

MANILA — The Institute of Corporate Directors once again recognized the listed companies of the Ayala group for their exceptional corporate governance performance.

Ayala’s nine listed companies received the highly coveted “Golden Arrows” during ICD’s Golden Arrow Recognition Night last September 19. Globe received the highest distinction of 5 Golden Arrows, while Ayala Corporation, ACEN, Ayala Land, and AyalaLand Logistics Holdings Corporation each received 4 Golden Arrows. Meanwhile, Integrated Micro-electronics, Inc., BPI, and AREIT received 3 Golden Arrows. ENEX also received 1 Golden Arrow, and BPI-AIA received 3 Golden Arrows for the insurance category.

The 2023 results reflect an improvement in the scores of Ayala Corporation (3 Golden Arrows in 2022), AyalaLand Logistics Holdings Corporation (3 Golden Arrows in 2022), and AREIT (2 Golden Arrows in 2022).

Companies that received Golden Arrows were rated based on ASEAN Corporate Governance Scorecard (ACGS) for publicly listed firms and Corporate Governance Scorecard (CGS) for insurance firms. ACGS and CGS were composed of 184 questions based on publicly available information on the companies’ disclosures and websites. A company may get 1 Golden Arrow (80 to 89 points) up to 5 Golden Arrows (120 to 130 points) depending on ACGS and CGS scores.

According to ICD, ACGS and CGS were used to rate the companies’ performance in the areas of “facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability through timely disclosure of material information, and how the board guides the company strategically, monitors the management, and ensures the accountability to the company and the shareholders.”

The Golden Arrows aim to elevate the corporate governance standards and practices of the country and make well-governed publicly listed companies attractive to investors. “We strive to have corporate governance that our various stakeholders can rely on. Doing well and doing good go hand in hand,” said Cezar Consing, President & CEO of Ayala Corporation.