Ayala Land bests ASEAN Corporate Governance Scorecard
Feb. 3, 2021 – Ayala Land, Inc. (ALI) was once again recognized for its outstanding corporate governance practices by the Securities and Exchange Commission (SEC) and the Institute of Corporate Directors (ICD), after being named one of the top publicly listed companies at the 2019 SEC-ICD ASEAN Corporate Governance Scorecard Awards (AGCS). The virtual awards ceremony was held on January 29, 2021.
ALI ranked among the Top 3 publicly listed companies (PLCs) in the Philippines and Top 20 in the ASEAN region based on the 2019 ASEAN Corporate Governance Scorecard Assessment of the ASEAN Capital Markets Forum (ACMF), which was organized in partnership with the Asian Development Bank (ADB).
“Reflecting its strong and consistent adherence to good corporate governance practices, Ayala Land is part of the prestigious ASEAN Asset Class PLCs that scored a minimum of 97.5 points in the scorecard. Together with Ayala Land and Globe, Ayala Corporation and BPI were also recognized for this honor,” announced the ACMF.
As part of its efforts to promote regional integration and the ASEAN region as an asset class, the ACMF and ADB have jointly developed the ASEAN Corporate Governance Scorecard as an assessment based on publicly available information and benchmarked against international best practices on corporate governance.
This is supported by a rigorous methodology developed by corporate governance experts across the region to assess the corporate governance standing and performance of publicly-listed companies in the six (6) participating ASEAN Member Countries namely: Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam.
“This award is very meaningful to our company, especially since good corporate governance has always been integral to the way we do business and has been a pillar in executing our plans. With the onset of COVID-19, its importance is highlighted now more than ever as we pivoted to adapt to this ‘next normal’,” said ALI President and Chief Executive Officer Bernard Vincent Dy.
ALI was also one of the top performing Philippine publicly-listed companies under the 2018 ACGS as it received the highest four-arrow recognition. It has consistently ranked among the leading companies in the scorecard through the years as it continues to practice good corporate governance in compliance with its own corporate governance manual, the code of corporate governance and all listing rules of the Philippine Stock Exchange (PSE), the Securities and Exchange Commission (SEC) and the Philippine Dealing Exchange Commission (PDEx).