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The Association of Southeast Asian Nations (ASEAN) Capital Market Forum (ACMF) has recognized three companies under the SM Group among the region’s top publicly listed firms in corporate governance.
SM Investments Corporation (SMIC), the conglomerate’s parent firm, and SM Prime Holdings Inc., its property arm, were both named among the Top 5 Philippine publicly listed companies (PLCs) and Top 50 ASEAN PLCs under the ASEAN Corporate Governance Scorecard (ACGS) 2024 assessment. This is the second time they achieved such distinction, following similar honors in 2022.
Only Phl bank in the list
BDO Unibank Inc., SM’s banking arm, also secured a spot in the Top 50 ASEAN PLCs, making it the only Philippine bank on the list. Out of six Philippine PLCs recognized, three were from the SM Group.
China Banking Corporation (Chinabank), another SM-affiliated financial institution, was named to the ASEAN Asset Class — an honor for PLCs that consistently achieved high scores under the ACGS.
“Good governance is essential to long-term value creation. We continue to align our governance practices with global standards to help build trust and deliver sustainable outcomes for our stakeholders and the communities we serve,” said Frederic DyBuncio, SMIC president and CEO.
Good governance and long-term value creation
SM Prime president Jeffrey Lim said the recognition “affirms our belief that good governance goes hand in hand with long-term value creation for shareholders and stakeholders alike.”
Deepest commitment
For BDO, president Nestor Tan underscored that the award “affirms our deepest commitment to the highest standards of corporate governance practices,” noting the bank’s focus on “effective oversight, strict compliance with regulations, and sustainable value creation.”
Chinabank president and CEO Romeo Uyan Jr. said it “reaffirms our steadfast commitment to responsible corporate governance that goes beyond compliance while embedding ethical stewardship into our culture.”
