Listed specialty food ingredients and oleochemicals producer D&L Industries, Inc. is eyeing stronger investor confidence following its improved corporate governance ranking from the Institute of Corporate Directors (ICD).

The company confirmed in a stock exchange report on Tuesday that it received three Golden Arrows at the 2025 ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards, its sixth consecutive year of recognition.

D&L said the award boosts its market credibility and supports its investor relations strategy as it expands and ramps up operations at its Batangas manufacturing facility.

“We are deeply honored to receive three Golden Arrows this year,” D&L President and CEO Alvin Lao said. “At D&L, we view good governance as the cornerstone of sustainable growth and an essential part of how we create lasting value for our stakeholders.”

The Golden Arrow Awards recognize listed companies with high governance standards based on the ACGS, which assesses shareholder rights, sustainability, transparency, and board leadership.

The ICD, a non-stock, not-for-profit organization promoting corporate governance, administers the ACGS to encourage transparency, accountability, and long-term value creation among publicly listed companies in the region.