SM Companies Clinch 7 Awards as Frontrunners in ASEAN Corporate Governance
With him are (from left): Mr. Marvin Perrin Pe, Risk Officer of SM Prime; Ms. Ma. Chimene Alvarez, CG Compliance Officer of China Bank; Atty. Aileen Paulette De Jesus, Chief Compliance Officer of China Bank; Mr. Wellington Palmero, Chief Risk and Compliance Officer of SMIC; and Mr. Reginald Tiu, Senior Assistant Vice President for Corporate Governance at SMIC.
(27 November 2018. Pasay City, Philippines) SM Investments Corporation (SMIC), SM Prime Holdings Inc. (SM Prime), and China Banking Corporation (China Bank) won seven awards for leadership and best practices in ASEAN Corporate Governance during the 2nd ASEAN Corporate Governance Awards held on November 21, 2018, in Kuala Lumpur, Malaysia.
Out of the Top 50 ASEAN publicly-listed companies awarded, SM Prime, SMIC, and China Bank placed prominently with SM Prime seizing a spot in the Top 10 while SMIC and China Bank were counted among the Top 30.
Based on the ASEAN Corporate Governance Scorecard (ACGS), which assesses good practices that aim to protect firms from financial crises and lead to greater capital market development, SM Prime, SMIC, and China Bank were given high honors, securing the prestigious Top 3 spots in the Philippines.
SMIC also received a citation as among the Top 2 Most Improved Publicly-Listed Companies in the Philippines as it continues to recognize the vital role that a strong corporate governance culture plays in its businesses.
The 2nd ASEAN Corporate Governance Awards was hosted by the Minority Shareholders Watch Group, an independent corporate governance research and monitoring organization in the capital markets based in Kuala Lumpur.
The ASEAN corporate governance initiative comprising the Asean Corporate Governance Scorecard and the ranking of corporate governance practices of ASEAN publicly-listed companies (PLCs) is one of the regional initiatives under the ASEAN Capital Markets Forum which aims to raise corporate governance standards and practices of ASEAN PLCs and enhance the visibility and investability of well-governed ASEAN firms internationally.
About SM Investments Corporation
SM Investments Corporation is a leading Philippine company that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.
SM’s retail operations are the country’s largest and most diversified with its food, non-food, and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels, and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, the 7th largest bank.
For more about SM, visit www.sminvestments.com
For further inquiries, please contact:
Paul Arcenas
VP, Planning and Corporate Communications
SM Investments Corporation
E-mail: paul.arcenas@sminvestments.com
Tel. No. (632) 857-0100 local 1039