The Philippine Star

Ce­mex Phl cited for good cor­po­rate gov­er­nance prac­tices

- Corporate Governance · Business Law · Business · Cemex · Philippines · Manila · Pasay · Pasay City · ASEAN · PSE · Asian Development Bank · Indonesia · Malaysia · Singapore · Thailand · Vietnam · Organization for Economic Cooperation and Development · U.S. Securities and Exchange Commission · Cebu City · Rizal · Conrad Manila

Ce­mex Hold­ings Philip­pines (CHP) re­cently bagged a pres­ti­gious Golden Ar­row Recog­ni­tion dur­ing a cer­e­mony hosted by the In­sti­tute of Cor­po­rate Di­rec­tors (ICD) held at Con­rad Manila, Pasay City. Golden Ar­row Recog­ni­tions were given to pub­liclyliste­d com­pa­nies that were con­sid­ered top per­form­ing com­pa­nies in the Philip­pines un­der the ASEAN Cor­po­rate Gov­er­nance Scorecard (ACGS) based on the re­sults of the 2018 as­sess­ment of the cor­po­rate gov­er­nance prac­tices of 247 com­pa­nies listed on the Philip­pine Stock Ex­change.

Since it be­gan its op­er­a­tions in the Philip­pines in 1997, Ce­mex has grown to be­come one of the lead­ing ce­ment pro­duc­ers and a part­ner for na­tion-build­ing in the coun­try.

The Golden Ar­row Recog­ni­tion af­firms that CHP is on the right track in as­pir­ing to op­er­ate be­yond na­tional leg­isla­tive re­quire­ments and achieve in­ter­na­tional best prac­tices in cor­po­rate gov­er­nance.

Jointly de­vel­oped by Asian Devel­op­ment Bank (ADB) and the ASEAN Cap­i­tal Mar­kets Fo­rum, the ACGS in­volves an as­sess­ment based on pub­licly avail­able in­for­ma­tion on the cor­po­ra­tions. The ACGS aims to raise the cor­po­rate gov­er­nance stan­dards and prac­tices among pub­licly-listed com­pa­nies in the ASEAN, to make well­go­v­erned com­pa­nies more at­trac­tive to in­vestors and to pro­mote the ASEAN as an in­vest­ment as­set class. Six ASEAN coun­tries namely the Philip­pines, In­done­sia, Malaysia, Sin­ga­pore, Thai­land, and Viet­nam par­tic­i­pate in the ACGS.

The Or­ga­ni­za­tion for Eco­nomic Co­op­er­a­tion and Devel­op­ment (OECD) Prin­ci­ples of Cor­po­rate Gov­er­nance were used as the main bench­mark for the ACGS, given their global ac­cep­tance from pol­i­cy­mak­ers, in­vestors, and other stake­hold­ers.

“We at Ce­mex are hon­oured to be rec­og­nized for our CE­MEX vice pres­i­dent for Plan­ning and Ad­min Ale­jan­dro Gar­cia Co­gol­los re­ceives the ACGS Golden Ar­row Recog­ni­tion dur­ing a cer­e­mony hosted by the In­sti­tute of Cor­po­rate Di­rec­tors. Pre­sent­ing the tro­phy are ICD pres­i­dent Al­fredo Pas­cual (left) and Se­cu­ri­ties and Ex­change Com­mis­sion (SEC) Chair­man Emilio Aquino. com­mit­ment to ad­here to in­ter­na­tion­ally rec­og­nized cor­po­rate gov­er­nance poli­cies. Re­ceiv­ing a Golden Ar­row en­cour­ages us to con­tin­u­ously adopt the high­est stan­dards of in­tegrity and trans­parency, ethics and com­pli­ance in all our deal­ings with share­hold­ers and stake­hold­ers,” said Ig­na­cio Mi­jares, CHP pres­i­dent and CEO.

Gar­ner­ing a Golden Ar­row un­der the ACGS not only val­i­dates the ac­com­plish­ments of the com­pany in in­te­grat­ing cor­po­rate gov­er­nance best prac­tices in its lo­cal busi­ness devel­op­ment projects, but also un­der­scores the sound im­ple­men­ta­tion of its so­cioe­co­nomic pro­grams and en­vi­ron­men­tal ini­tia­tives that seek to sup­port na­tion-build­ing.

Ce­mex has a rich his­tory of im­prov­ing the wel­fare of those it serves through in­no­va­tive build­ing so­lu­tions, ef­fi­ciency ad­vance­ments, and ef­forts to pro­mote a sus­tain­able fu­ture in more than 50 coun­tries world­wide. In the Philip­pines, CHP’s sub­sidiaries Apo Ce­ment Cor­po­ra­tion in Cebu and Solid Ce­ment Cor­po­ra­tion in Rizal pro­duce and mar­ket a broad prod­uct mix of build­ing so­lu­tions. These ce­ment man­u­fac­tur­ing plants carry the well-es­tab­lished ce­ment brands Apo and Rizal. More in­for­ma­tion is avail­able at www.ce­mex­hold­ingsphilip­pines.com.

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