SM, subsidiaries receive corporate governance awards

MANILA, Philippines - Leading Philippine conglomerate SM Investments Corp. (SM) and its subsidiaries were recognized for excellence in good corporate governance by Hong Kong publication Corporate Governance Asia (CG Asia).

The 10th Corporate Governance Asia Recognition Awards acknowledges the companies who have taken serious steps to institutionalize corporate governance into their businesses.

SM vice chairperson and BDO chairperson Teresita T. Sy-Coson and SM Prime Holdings Inc. president Hans T. Sy were both cited for the Asian Corporate Director award.

SM Investments Corp., BDO Unibank, Inc. and SM Prime Holdings, Inc. were awarded with Asia’s Icon on Corporate Governance. China Banking Corp. was cited as one of among Asia’s Outstanding Companies on Corporate Governance.

Sy-Coson said: “We would like to thank Corporate Governance Asia for these awards and for acknowledging the many initiatives we have taken over the years to further strengthen corporate governance across the SM group of companies. While good corporate governance is deeply engrained in the SM culture, we are committed to continue improving our standards because we believe that it can only serve to ensure long-term sustainability of all our businesses.”

The awarding ceremony was held last Oct. 24, at the Renaissance Harbour View Hotel in Hong Kong.

CG Asia is the most authoritative journal on corporate governance in the region. Published quarterly, it provides news and analysis on corporate governance issues, boardroom practices and shareholder activism since seeing print in 2002. CG Asia is read by 9,000 executives from Asia’s major public companies, regulators, institutional investors, fund managers, lawyers, accountants, academics, government financial institutions.