MANILA - ABS-CBN Corp. is among the top organizations in the Philippines and the only media network recognized for its "outstanding corporate governance" by the Institute of Corporate Directors (ICD).

ABS-CBN chief financial officer Aldrin Cerrado accepted the award at the recently held ASEAN Corporate Governance Scorecard (ACGS) Recognition Ceremony, where firms that are well-managed and compliant with government regulations are recognized.

The culture of good governance is vital in the continued success of the 65-year-old media and entertainment company, Cerrado said in a release.

“We recognize in ABS-CBN that to be able to fulfill our mission of being in the service of the Filipino, we have to retain the trust of our stakeholders and remain attractive to investors," he said.

“It is very important that the company is run well to ensure our long term success. We have been able to do that through corporate governance and compliance practices that are aligned with the standards promoted by the ICD."

Lopez Group's Lopez Holdings Corp. and First Gen Corp. are also among this year's awardees.

ICD, a non-profit organization, aims to raise the level of corporate policy and practice in the country. It assesses publicly listed companies in terms of policies, practices on rights and roles of shareholders, responsibilities of the Board, disclosure and transparency, among others.

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