CHI, CPVDC awarded for best practices

Wednesday August 8, 2018

AYALA Land-led companies Cebu Holdings, Inc. (CHI) and Cebu Property Ventures and Development Corp. (CPVDC) were recently recognized by the Institute of Corporate Directors (ICD) as among the top performing publicly-listed companies under the ASEAN Corporate Governance Scorecard (ACGS) for 2017.

Out of the more than 200 publicly-listed companies in the Philippines, both CHI and CPVDC were part of the 42 companies that were awarded during the appreciation ceremony held last July 31 at the Tower Club in Makati.

These were the only Cebu-based companies among the awardees. ICD is a non-stock, non-profit organization dedicated to raising the corporate governance standards of the Philippines. The rating is based on the five principles of corporate governance: rights and equitable treatment of shareholders, role of stakeholders, board responsibility, disclosure and transparency. (FREEMAN)