SM, subsidiaries win Corporate Governance Asia awards

MANILA, Philippines - SM Investments Corp. (SM) and its subsidiaries recently received honors from Corporate Governance Asia, a Hong Kong-based publication, which is one of the most authoritative journals on corporate governance in the region. The publication cited SM in two of its awards programs, namely the 7th Corporate Governance Asia Awards 2011 and the 2nd Asian Corporate Director Recognition Awards 2011.

Under the 7th Corporate Governance Asia Awards 2011, SM and two of its subsidiaries, SM Prime Holdings Inc. (SM Prime) and Banco De Oro Unibank Inc. (BDO), were chosen as awardees from the Philippines, in recognition of their continuing commitment to the development of corporate governance in the region.

Meanwhile, BDO chairperson and SM vice chairperson Teresita Sy Coson and SM director and president Harley T. Sy, were both selected as winners from the Philippines, of Corporate Governance Asia’s 2nd Asian Corporate Director Recognition

Awards 2011. According to the publication, in selecting the winners, its editors and researchers took into consideration not only the awardees’ contributions in growing their companies’ business, social responsibility, and environmental protection, but also their efforts in raising the standards of corporate governance practice in the Philippines.

“The able leadership of Ms. Teresita Sy-Coson and Mr. Harley T. Sy has steered their companies through difficult times and has made them stronger institutions, going forward. In so doing, they have laid the groundwork in further enhancing the shareholder value of their companies, as they pursue significant business opportunities and continue on with their strong commitment to social and environmental issues in the region,” Corporate Governance Asia explained.

A recognition dinner was held, for the two Corporate Governance Asia awards programs, in Hong Kong on June 20, 2011.