Ayala Land scores high in corporate governance

MANILA, Philippines — Ayala Land Inc. (ALI) made it to the list of top listed companies with high scores in corporate governance.

ALI was again recognized for “outstanding corporate governance practices by the Securities and Exchange Commission (SEC) and the Institute of Corporate Directors.

“Reflecting its strong and consistent adherence to good corporate governance practices, ALI is part of the prestigious ASEAN Asset Class PLCs that scored a minimum of 97.5 points in the scorecard. Together with Ayala Land and Globe, Ayala Corp. and BPI were also recognized for this honor,” the ASEAN Capital Markets Forum (AMF) said.

ALI ranked among the Top 3 publicly listed companies (PLCs) in the Philippines and Top 20 in the ASEAN region based on the 2019 ASEAN Corporate Governance Scorecard Assessment of ACMF, which was organized in partnership with the Asian Development Bank (ADB).

“This award is very meaningful to our company, especially since good corporate governance has always been integral to the way we do business and has been a pillar in executing our plans,” said ALI president and CEO Bernard Vincent Dy.

With the onset of COVID-19, its importance is highlighted now more than ever as we pivoted to adapt to this ‘next normal’,” Dy said.

ACMF and ADB jointly developed the ASEAN Corporate Governance Scorecard as an assessment based on publicly available information and benchmarked against international best practices on corporate governance.

This is part of efforts to promote regional integration and the ASEAN region as an asset class.

This is supported by a rigorous methodology developed by corporate governance experts across the region to assess the corporate governance standing and performance of publicly-listed companies in the six participating ASEAN member countries namely Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam.

ALI has consistently ranked among the leading companies in the scorecard through the years as it continues to practice good corporate governance in compliance with its own corporate governance manual, the code of corporate governance and all listing rules of the Philippine Stock Exchange, the Philippine Dealing Exchange Corp. and the SEC.