PLDT bags 5 awards from Euromoney

ABS-CBN News

Posted at Feb 24 2009 12:01 PM | Updated as of Feb 25 2009 12:14 AM

Listed firm Philippine Long Distance Company (PLDT) received five awards from Euromoney, a prestigious economic magazine.

In a statement, PLDT said the awards were presented in Manila on Monday by Euromoney Chairman and Editor-in-Chief Padraic Fallon to PLDT Chairman Manny V. Pangilinan and PLDT President and CEO Napoleon Nazareno.

Euromoney cited PLDT as the company with the "Most Convincing and Coherent Strategy in the Philippines" in its December 2008 issue. The company also bagged the award for "Best Corporate Governance in the Philippines," an award it has already received last year.

PLDT earned the fourth spot in two regional categories, namely as the company with the most transparent accounts (out of 207 nominations), and best corporate governance (out of 242 nominations). In addition, PLDT received the No. 5 Most Convincing and Coherent Strategy award out of 278 nominations.

Euromoney regularly publishes in-depth surveys, polls, and rankings of specific areas of finance. The methodology for Euromoney's annual poll involves the nomination of top companies by analysts and banking and research institutes, bearing in mind factors such as market strength, profitability, growth potential, and quality of management and earnings.

Last week, PLDT raised P5 billion from a recent issuance of fixed-rate notes to finance capital expenditures.

Because of strong investor response, PLDT said it had to upsize the issue amount to P5 billion from the original target of P3 billion.