PASAY CITY, Philippines, Sept. 27, 2024 /PRNewswire/ -- SM Investments Corporation was awarded the prestigious 5 Golden Arrow Award by the Institute of Corporate Directors (ICD), the highest recognition given during the ASEAN Corporate Governance Scorecard (ACGS) 2024 Golden Arrow Awards.
Only five companies received the 5 Golden Arrow Award, four of which were SM companies. Aside from SM Investments, also cited were BDO Unibank, Inc. (BDO), China Banking Corporation (China Bank), and SM Prime Holdings, Inc. (SM Prime).
"This recognition reflects the commitment and hard work of our entire organization," said SM Investments Chairman Amando M. Tetangco, Jr. "From the board, management, our leaders and teammates—everyone consistently works to ensure we continue to adopt and uphold the highest standards in good corporate governance."
SM Investments practices the highest standards of good corporate governance in all its dealings with investors, business partners, creditors, customers, employees and all other stakeholders. SM Investments believes that good corporate governance will provide the long-term growth and sustainability for the company.
"We recognize the rising global attention on corporate governance and sustainability as part of companies' business strategies. Beyond compliance, SM's operations are anchored on fairness, integrity, accountability, transparency and stakeholder engagement," SM Investments Executive Vice President and Chief Risk and Compliance Officer Elizabeth Anne "Lizanne" C. Uychaco said.
According to the ICD, the ACGS measures the performance of the companies 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 board's accountability to the company and the shareholders. The assessment is based on publicly available disclosures on the companies' websites.
About SM Investments Corporation
SM Investments Corporation is one of the leading Philippine companies 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, consisting of grocery stores, department stores 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 fourth largest private domestic bank.
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