ABS-CBN was cited again for its good corporate governance as it received an ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Award from the Institute of Corporate Directors (ICD) on Thursday (Sept 28).
This is the fourth time that ABS-CBN was recognized alongside other top Philippine publicly listed companies and insurance companies for being compliant with government regulations based on the 2022 ACGS and Corporate Governance Scorecard (CGS) assessment results.
ABS-CBN treasurer and head of Investor Relations Vincent Paul Piedad accepted the award of ABS-CBN at the Golden Arrow Recognition of the ICD held at Okada Manila.
According to the ICD, the ACGS “aims to raise the corporate governance standards and practices of the Philippines and to make well-governed Philippine publicly listed companies attractive to investors.”
The scorecard is composed of 184 questions based on publicly available disclosures on the companies’ websites. The Golden Arrow is given to companies that achieved a score of at least 80 points in the ACGS Assessment.
Meanwhile, the ICD is a non-stock, not-for-profit organization dedicated to the professionalization of Philippine corporate directorship.