First ASEAN Corporate Governance Conference and Awards hosted in Manila

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Organized by the ASEAN Capital Markets Forum (ACMF) and hosted by the Philippine Securities and Exchange Commission (SEC), the Philippines hosted the first ASEAN Corporate Governance Conference and Awards which was attended by speakers and delegates from across the globe. Discussions about corporate governance took center stage during the conference while ASEAN publicly listed companies were given recognition during the awarding ceremonies for exceptionally practicing good corporate governance.

Organized by the ASEAN Capital Markets Forum (ACMF) and hosted by the Philippine Securities and Exchange Commission (SEC), leaders of the region’s leading publicly-listed companies (PLCs), capital markets regulators and governance experts converged in Manila to take part in the inaugural ASEAN Corporate Governance Conference and Awards (ACGCA). The conference took place in the morning at the Asian Development Bank while the awards were conferred in the evening at the Manila Polo Club.

The event kicked-off with a conference, themed Governance Transformation in ASEAN: Reform Priorities, which was designed to spread awareness on the importance of good corporate governance and the application of the ASEAN Corporate Governance Scorecard (ACGS). The conference also launched the Corporate Governance Blueprint of the Philippines which contains the corporate governance plans for the country.

After the morning’s conference, the delegates again gathered at the illustrious Manila Polo Club to honor ASEAN’s best governed PLCs based on the results of the ACGS. More than 60 companies from across the region were recognized for the first time, for implementing a corporate governance framework that better served the company, its investors and its people.

The winning companies from Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam were awarded based on the specifications of the ACGS that include rights of shareholders, equitable treatment, role of stakeholders, disclosure and transparency, board responsibilities, and bonuses and penalties. The top two PLCs with outstanding achievements and the top three highest scoring PLCs from each country were named followed by the top 50 from across the region.

Formally closing the event was the announcement of the top five ASEAN companies that have garnered the highest scores from the ACGS. In an alphabetical order, the companies revealed were Bursa Malaysia Berhad from Malaysia, DBS Group Holdings LTD. from Singapore, PTT Global Chemical Public Company Limited and Samart Corporation Public Company Limited from Thailand, and Singapore Telecommunications Limited from Singapore.

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Florence Joy dela Cruz
TEAMASIA
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