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| Globe SVP for Law and Compliance, Chief Compliance Officer and Assistant Corporate Secretary Marisalve Ciocson-Co (3rd to the right) receives the award for Globe at the 2nd ASEAN Corporate Governance Awards Ceremony at Kuala Lumpur Convention Center in Malaysia |
GLOBE
Telecom made it to the top 50 publicly-listed companies (PLCs) in the
Association of Southeast Asian Nations (ASEAN) for excellent performance in the
ASEAN Corporate Governance Scorecard (ACGS).
The
recognition is a testament to the company’s commitment to good governance
principles to create shared value for all stakeholders.
The
prestigious award was conferred by the ASEAN Capital Markets Forum (ACMF) at
the ASEAN Corporate Governance Awards ceremony on November 21, 2018 in Kuala
Lumpur, Malaysia. ACGS assessed close to 600 publicly-listed companies for
their corporate governance practices which aim to protect their firms from
financial crises and promote greater capital market development.
“The key is
finding the equilibrium between governance and business. We believe that
finding the right balance is the crux to sustainability and shareholder value,”
said Marisalve Ciocson-Co, Globe senior vice-president for Law and Compliance,
chief compliance officer and assistant corporate secretary.
The ACGS is
an instrument for the assessment and ranking of PLCs among participating
countries, namely: Indonesia, Malaysia, Philippines, Singapore, Thailand, and
Vietnam. This initiative was developed in 2011 by the ACMF and in collaboration
with the Asian Development Bank. The scorecard is also aligned with the
corporate governance principles by the Organisation for Economic Cooperation
and Development (OECD).
Assessment
of listed firms under ACGS underwent a rigorous two-stage process: local
assessment conducted by domestic ranking body (DRB) assessing and ranking their
respective Philippine listed firms, as well as a peer review by other DRBs
assessing listed companies from other countries. This is then followed by a
series of dialogues and discussions among DRBs and the ACGS working group to
reconcile differences and discrepancies in assessments and scores.
Globe has
been consistently recognized as one of the top listed firms in ASEAN since the
2015 ACGS run. ACGS compliance is spearheaded by Globe Corporate and Legal
Services Group and Globe Chief Compliance Officer Ciocson-Co. Other companies
recognized in the Top 50 were Singapore Telecommunications Limited (Singtel),
Ayala Corporation, Ayala Land, Inc., and Manila Water Company, Inc. - PR
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