FOR the third consecutive year this year, SM Investments Corp. won the Five Golden Arrows Award, the highest rating given by the Institute of Corporate Directors (ICD) under the corporate governance awards category.
FIVE GOLDEN ARROWS SM Investments Corp. President and CEO Frederic DyBuncio (2nd from left) receives the Five Golden Arrows Award from the Institute of Corporate Directors under the corporate governance awards category from (left) ICD Trustee and Honorary Fellow Ambassador Jose Cuisia Jr., ICD Trustee and Chairperson Benedicta Du-Baladad and ICD Fellow and President Tomasa Lipana. SM INVESTMENTS PHOTO
SM Prime Holdings and China Banking Corp. also won the same Five Arrows Awards on their own merits.
BDO Unibank and Belle Corp., developer of high-end residential and leisure properties, were conferred the Four Arrows Awards.
All four companies are owned by SM Investments.
ICD gives the awards based on how effective the participating companies protect shareholder rights, disclose material information and provide board oversight. It keeps the Association of Southeast Asian Nations of Asean Corporate Governance Scorecard (ACGS) for the purpose.
According to SM Investments Chairman of the Board Armando Tetangco Jr., he and his team are fully attuned to the requirements set by the ACGS guidance.
“We aim to create long-term value for our stakeholders, and strong governance is central to that,” he said
A former two-term governor of the Bangko Sentral ng Pilipinas, Tetangco is the first independent chairman of the board of SM Investments.
SM Investments oversees the strategy, risk management and major investment decisions across its interests in retail, banking, property and portfolio businesses. It supports each company’s decisions on where to invest, how to manage financial obligations and how much cash to return to shareholders.
All companies operating under SM Investments retain their own boards and management teams, accountable for their respective businesses.
For his part, SM Investments President and CEO Frederic DyBuncio said his company has always committed itself to sound corporate governance and responsible stewardship, all to attain sustainable growth and maintain long-term stakeholder value.
He noted that the recognition comes as SM marks 68th year of operation since the opening of its first Shoemart store.
SM Investments Corp. owns and operate market-leading businesses in retail, banking and property.
Its property arm, SM Prime Holdings, is the country’s largest property developer in the Philippines. Its banking interests include BDO Unibank Inc., the country’s largest bank, and China Banking Corp., one of the largest.
