AEV cited for excellence in corporate governance

Aboitiz Equity Ventures, Inc .( AEV ), the listed holding company of the Aboitiz Group, ranks among the country’s top 15 companies in good corporate governance as rated by the Institute of Corporate Directors (ICD).

AEV, together with 14 other listed local companies, were recognized by ICD as Governance Awardees at the 2016 Investors’ Forum: Does the Philippines Need A Stewardship Code last October 6 at the Manila Polo Club, Makati City. According to ICD, these firms were recognized after topping the following criteria: ASEAN (Association of South East Asian Nations) Corporate Governance Scorecard, Shareholders, Public Disclosure and Transparency, Stakeholders and Board of Directors.

“We are pleased to have been recognized by the ICD for our efforts on good corporate governance, because we believe this creates long-term value for our businesses and all our stakeholders. We are convinced that this is a sensible, appropriate, and sustainable way to move forward as a business enterprise,” Erramon I. Aboitiz, AEV President and Chief Executive Officer, remarked.

The event was organized by the ICD in partnership with the Fund Managers Association of the Philippines, the Philippine Investment Funds Association, the Trust Officers Association of the Philippines, and PJS Corporate Support, Inc. to help investors practice responsible stewardship. It brought together institutional investors, fund managers, trust officers, asset managers, stockbrokers and directors, as well as regulatory bodies such as insurance companies and investment/ commercial banks.

Aside from AEV, other companies cited were Manila Water Company, Inc.; Philex Mining Corporation; BDO Unibank, Inc.; Globe Telecom, Inc.; GT Capital Holdings, Inc.; Manila Electric Company; Ayala Corporation; Ayala Land, Inc.; Philippine Long Distance Telephone Co.; SM Prime Holdings, Inc.; Bank of the Philippine Islands; Energy Development Corporation; International Container Terminal Services, Inc.; and Metropolitan Bank & Trust Company.

Dmi Lozano (left), AEV Chief Finance Officer, and Jazz Oporto, AEV Chief Compliance Officer, receive from the Institute of Corporate Directors the citation naming AEV as one of the country’s Governance Awardees.