Raising PHL's excellence in business integrity

Golden Arrow Awards honor anew top companies for strong corporate governance

- By Mhicole A. Moral

THE INSTITUTE of Corporate Directors (ICD) once again recognized the country's leading publicly listed (PLCs) and insurance companies (ICs) at the 2025 Golden Arrow Awards held on Oct. 23 at the Grand Ballroom, Okada Manila.

The event highlighted firms that showed excellence in corporate governance, transparency, and accountability based on the 2024 ASEAN Corporate Governance Scorecard (ACGS) and the Corporate Governance Scorecard (CGS). The evaluation also included sustainability practices, board independence, and active engagement with investors and the public.

Each company went through a detailed assessment covering 193 publicly available indicators. The metrics examined areas such as board structure, audit quality, executive compensation, and sustainability reporting. The ACGS follows a 130-point grading scale, where companies must earn at least 75 points to qualify for the Golden Arrow distinction.

The recognition is divided into five levels. Companies with 75 to 84 points receive one arrow; those with 85 to 94 points receive two; 95 to 104 points earn three; 105 to 114 points get four; and those scoring between 115 and 130 points receive five arrows.

Insurance companies are evaluated separately. Their scoring begins at 80 points for one arrow and extends up to 130 points for five arrows, depending on their overall performance.

This year, 109 publicly listed companies and 26 insurance firms were honored for their strong governance practices and commitment to ethical business leadership.

COMMITMENT TO TRUST AND PROGRESS

Five of the country's leading corporations received the highest distinction at this year's Golden Arrow Awards, recognizing their outstanding commitment to corporate governance and ethical business practices. These include Ayala Corp., Converge Information and Communications Technology Solutions Inc., Globe Telecom Inc., SM Investments Corp., and SM Prime Holdings Inc.