CHI commits to grow further in Cebu

CEBU, Philippines - Ayala Land affiliate, Cebu Holdings Inc. (CHI) reinforces its lead in implementing excellent corporate governance as it commits to grow further its business in Cebu.

"As CHI and CPVDC continue to grow its businesses, contribute to the Cebu economy and employment of thousands of workers, we similarly continue to strengthen commitment to good corporate governance, strong business ethics and sound risk management,” CHI president Jun Bisnar said.

 Bisnar made this statement following the recognition of CHI subsidiary, Cebu Property Ventures and Development Corporation (CPVDC), as among the top five companies in the Philippines that was the “best of the best in corporate governance” for 2016.

CPVDC is the only Cebu-based company among the top companies recognized for exemplifying excellence in corporate governance at the 5th Annual PSE Bell Awards for “Excellence in Corporate Governance” that was held last November 10, 2016 at the Makati Diamond Residences, CPVDC, alongside Manila Water Company, China Banking Corp., Philex Mining Corp., and Aboitiz Power Corp.,.

These companies, including CPVDC bested the 300 publicly listed companies at the Philippine Stock Exchange out of the more than 1,000 companies registered with the Securities and Exchange Commission (SEC).

“We focused on programs and initiatives not only for our shareholders, but for our broader group of stakeholders as well, as we consciously increase our circle of influence in the communities where we operate,” Bisnar added.

According to Bisnar, CPVDC’s corporate governance structure is a key element in promoting competitiveness, improving financial growth and ultimately enhancing investor confidence. It facilitates an efficient enforcement of CPVDC’s sustainability framework.

Registered with the SEC in August 2, 1990, CPVDC is now on its 26th year of operations.  With its flagship project, the Cebu I.T. Park, CPVDC has been at the forefront of promoting the IT and BPO industry in Cebu. To date, Cebu I.T. Park generates almost 50,000 jobs. Cebu has also been cited as the 7th top BPO destination globally.

The PSE Bell Award is the highest accolade given locally to listed companies with “world-class corporate governance standards and practices.” Assessments were based on the strength of a company’s adherence to PSE’s corporate governance guidelines and relevant rules and regulations.

 CHI was also recognized as one of the top ten finalists in the 2016 PSE Bell Awards. (FREEMAN)