High five! China Bank bags PSE’s excellence in corporate governance award for 5 straight years
Sy family-led China Banking Corporation was once again honored by the Philippine Stock Exchange (PSE) in its annual Bell Awards for Excellence in Corporate Governance.
China Bank was the only publicly listed company to have received the recognition for five straight years since Bell Awards was launched in 2012.
““We are once again very honored and humbled to be distinguished as one of the companies that uphold their commitment to corporate governance excellence,” said China Bank chairman Hans T. Sy moments after receiving the award.
“To be recognized for the fifth straight time is special. We thank the PSE for this prestigious award and we feel very motivated to work even harder and improve even further,” he added.
Other publicly listed companies awarded this year are the Ayala-led Manila Water Co. Inc. and Cebu Property Ventures and Development Corp., Manny Pangilinan’s Philex Mining Corporation and the Aboitiz family’s Aboitiz Power Corp.
It was the fourth time Manila Water won the award while it was the second time for Philex.
Meanwhile five stock trading firms were also awarded with excellence in governance namely Macquarie Capital Securities Philippines Inc., UBS Securities Philippines Inc., Deutsche Regis Partners Inc., Credit Suisse Securities Philippines Inc., and RS Lim & Co.
“Good corporate governance is not a function of company size, whether in terms of market capitalization or workforce count. Rather, it is a product of commitment and initiative. Commitment shows the degree of responsibility embraced by the entire company to uphold transparency and accountability to champion the welfare of the company stakeholders,” PSE chair Jose Pardo said during his opening speech.
“While commitment may result to good corporate governance, it takes initiative to practice a brand of governance that is way above what the standards require,” he added.