AEV, AboitizPower bag Golden Arrow recognition

By The Manila Times March 19, 2021
https://www.manilatimes.net/2021/03/19/public-square/aev-aboitizpower-bag-golden-arrow-recognition/853193/

HOLDING companies Aboitiz Equity Ventures, Inc. (AEV) and Aboitiz Power Corporation (AboitizPower) received the prestigious Golden Arrow Recognition during a virtual awarding ceremony for the Asean Corporate Governance Scorecard (ACGS).

AEV received a two-arrow recognition (ACGS score of 90-99points), while AboitizPower, one arrow (ACGS score of 80-89points) from domestic ranking body Institute of Corporate Directors (ICD) following the results of the 2019 ACGS assessment.

The Golden Arrow Recognition is awarded to publicly-listed companies (PLCs) and insurance companies that achieved the scores of at least 80 points in the ACGS. Five levels of performance in corporate governance based on scores were bestowed, with each level depicted by the increasing number of golden arrow.

According to the ICD, the golden upward-pointing arrow symbolizes the continuing efforts of the Philippine companies to raise the level of compliance with the ASEAN corporate governance principles.

“As we grow our businesses in critical sectors such as power, banking and financial services, food, land, and infrastructure, we remain faithful to our values and promise of advancing business and communities. This accolade reinforces our unwavering commitment to and exemplary standards on good corporate governance,” said Aboitiz Group President and CEO Sabin Aboitiz.