MANILA - ABS-CBN was once again recognized for its good corporate governance along with the other top organizations in the Philippines in the ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards.
During the virtual ceremony held last Feb. 19, the network was the only media firm recognized in the list of outstanding domestic publicly-listed companies in 2019, ABS-CBN said. It was also recognized in 2018.
The award is an assessment tool used to measure if a company is managed well and is compliant with government regulations in 6 participating Association of Southeast Asian Nations (ASEAN) countries, namely the Philippines, Indonesia, Malaysia, Singapore, Thailand and Vietnam.
Rights of shareholders, equitable treatment of shareholders, role of stakeholders, disclosure and transparency, responsibilities of the board as well as bonus and penalty in the organizations are some of the factors considered in choosing the winners, ABS-CBN said.
Two other companies from the Lopez Group were also recognized at the Golden Arrow Awards: the Lopez Holdings Corp and First Gen Corp.
The ACGS Golden Arrow Awards is organized by the Institute of Corporate Directors, a non-stock, not-for-profit organization focused on the professionalization of Philippine corporate directorship.
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