All 9 PSE Listed Ayala Firms Recognized for Exemplary Governance

The Institute of Corporate Directors has once again recognized the Ayala Group's listed firms for their outstanding corporate governance performance.

Ayala's nine listed firms got the prestigious "Golden Arrows" during ICD's Golden Arrow Recognition Night on September 19. Globe won the highest honor of 5 Golden Arrows, while Ayala Corporation, ACEN, Ayala Land, and AyalaLand Logistics Holdings Corporation all received 4 Golden Arrows. Meanwhile, Integrated Micro-electronics, Inc., BPI, and AREIT got three Golden Arrows. ENEX also won one Golden Arrow, while BPI-AIA received three Golden Arrows in the insurance sector.

​The 2023 results show an improvement in the scores of Ayala Corporation (3 Golden Arrows in 2022), AyalaLand Logistics Holdings Corporation (3 Golden Arrows in 2022), and AREIT (2 Golden Arrows in 2022).

Companies that got Golden Arrows were graded using the ASEAN Corporate Governance Scorecard (ACGS) for publicly traded firms and the Corporate Governance Scorecard (CGS) for insurance companies. ACGS and CGS consisted of 184 questions based on publicly accessible information from the firms' disclosures and websites. Depending on ACGS and CGS results, a corporation can receive one Golden Arrow (80 to 89 points) or up to five Golden Arrows (120 to 130 points).

According to ICD, ACGS and CGS were used to rate the companies’ performance in the areas of “facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability through timely disclosure of material information, and how the board guides the company strategically, monitors the management, and ensures the accountability to the company and the shareholders.”

The Golden Arrows aim to elevate the corporate governance standards and practices of the country and make well-governed publicly listed companies attractive to investors. “We strive to have corporate governance that our various stakeholders can rely on.  Doing well and doing good go hand in hand,” said Cezar Consing, President & CEO of Ayala Corporation.