SM Investments Shines in ASEAN Good Governance Rankings
SM Investments Corporation Recognized in ASEAN Rankings
In a notable achievement, SM Investments Corporation has been recognized for exemplary governance within the ASEAN region. The prestigious Association of Southeast Asian Nations (ASEAN) Capital Market Forum has honored SM Investments, and its subsidiary SM Prime Holdings, among the top 5 publicly listed companies in the Philippines.
Recognition and Rankings of SM Group
Alongside SM Prime Holdings, the banking arm, BDO Unibank, also earned a spot in the esteemed Top 50 ASEAN Publicly Listed Companies ranking. Out of the six firms from the Philippines recognized, three belong to the SM group. Impressively, BDO was the sole bank from the Philippines to achieve this prestigious status on the regional list.
Commitment to Corporate Governance
Another significant accolade was awarded to China Banking Corporation, commonly known as Chinabank, which is also part of the SM family. This recognition is granted to companies within the ASEAN Asset Class that demonstrate outstanding performance in governance, as measured by the ASEAN Corporate Governance Scorecard.
A Continuous Pursuit of Excellence
This recognition affirms SM’s dedication to high governance standards that match global expectations. It follows the earlier accolades received in the 2022 awarding where SM Investments and SM Prime were positioned within the top tiers of the Philippine and ASEAN rankings.
Leadership Views on Good Governance
Frederic C. DyBuncio, the President and CEO of SM Investments Corporation, emphasized the importance of good governance. He stated, "Good governance is essential to long-term value creation. We continue to align our governance practices with global standards to help build trust and deliver sustainable outcomes for our stakeholders and communities we serve."
A Lasting Impact on Stakeholders
Echoing this sentiment, Jeffrey C. Lim, President of SM Prime Holdings, remarked, "Recognition at this year's ACGS Awards validates our commitment to building sustainable and resilient communities. It affirms our belief that good governance goes hand in hand with long-term value creation for shareholders and stakeholders alike."
Corporate Governance Principles at BDO
Nestor V. Tan, the President of BDO Unibank, highlighted that their corporate governance principles focus on effective oversight, strict adherence to regulations, and promoting sustainable value creation for stakeholders. The recognition received showcases their commitment to maintaining high governance standards.
Chinabank's Commitment to Governance
Chinabank's President and CEO, Romeo D. Uyan, Jr., stated, "This recognition reaffirms Chinabank's steadfast commitment to responsible corporate governance that goes beyond compliance while embedding ethical stewardship into our culture. We strive to create long-term value for our stakeholders."
Evaluating Corporate Governance Standards
The ACGS undertook a rigorous evaluation of 569 publicly listed companies across the region, identifying those that maintain high corporate governance practices aligned with international best practices. This recognition places SM Investments Corporation among the elite in the region.
About SM Investments Corporation
SM Investments Corporation stands out as one of the leading companies in the Philippines. It invests in retail, banking, and property sectors while targeting ventures with high growth potential in the vibrant Philippine economy.
Frequently Asked Questions
What is SM Investments Corporation known for?
SM Investments Corporation is recognized for its excellence in governance and investments across various sectors like retail, banking, and property in the Philippines.
Why is SM Investments Corporation acknowledged in ASEAN?
The ASEAN Capital Market Forum acknowledged SM Investments for its top governance standards, ranking among the top publicly listed companies in the region.
How many awards has SM Investments received?
SM Investments has consistently received awards for its corporate governance practices, with repeated recognition in regional assessments by ASEAN.
What does good governance mean for SM Group?
Good governance for SM Group means aligning practices with international standards to ensure sustainable growth and stakeholder confidence.
What accolades has BDO Unibank received?
BDO Unibank has been recognized among the top ASEAN companies, highlighting its commitment to effective corporate governance and stakeholder interests.
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