THREE Aboitiz-led listed companies received Golden Arrow awards from the Institute of Corporate Directors (ICD) for corporate governance standards based on the ASEAN Corporate Governance Scorecard.
Aboitiz Equity Ventures, Inc. (AEV) and Union Bank of the Philippines, Inc. received four Golden Arrows each, while Aboitiz Power Corp. earned three Golden Arrows during the awards ceremony held on Oct. 23 in Makati City.
The annual awards recognize listed companies based on their performance under the ASEAN Corporate Governance Scorecard, which evaluates shareholder rights, disclosures, risk management and board oversight.
The 2026 awards were based on the 2025 assessment covering companies’ 2024 operations under the revised scorecard framework.
The Aboitiz group said governance and risk oversight remain important across its businesses in power, banking, food, infrastructure, real estate, and technology.
The recognition comes as regulators push listed companies to improve governance standards to attract investors.
“We cannot simply expect global investors to adjust to what we want,” Securities and Exchange Commission Chairperson Francis Ed. Lim said during the awards ceremony. “If we want their capital, we must first earn their confidence.”
The Philippines ranked fourth among six participating Southeast Asian markets with an average score of 89.27, according to scorecard data. Only 35 listed companies qualified for the ASEAN Asset Class. — Juliana Chloe A. Gonzales