SM Investments bags third straight top governance award
FOR its commitment to high standards of corporate governance, SM Investments receives its third consecutive Five Golden Arrow Award from the Institute of Corporate Directors. Frederic C. DyBuncio, president and CEO of SM Investments (center) receives the award on behalf of the conglomerate from top ICD executives Atty. Benedicta Du-Baladad, trustee and chairperson of ICD (third from left); and Tomasa H. Lipana, ICD fellow and president (right). Also in the photo is Ambassador Jose L. Cuisia Jr., trustee and ICD honorary fellow (leftmost).
Photograph courtesy of SMIC
SM Investments Corporation, the parent company of the SM Group, has received the Five Golden Arrow Award from the Institute of Corporate Directors (ICD) for the third consecutive year, earning the highest distinction under the organization’s corporate governance recognition program.
The 2026 award was based on the company’s 2025 ASEAN Corporate Governance Scorecard (ACGS) assessment, which evaluates how companies protect shareholder rights, disclose material information, maintain accountability and exercise effective board oversight.
SM Prime Holdings Inc. and China Banking Corporation also received Five Golden Arrows, while BDO Unibank Inc. and Belle Corporation earned Four Golden Arrows.
Strong governance
“We aim to continuously create long-term value for our stakeholders, and strong governance is central to that,” SM Investments Chairman Amando M. Tetangco Jr. said.
Tetangco, a former two-term governor of the Bangko Sentral ng Pilipinas, is the company’s first independent chairman.
The board oversees SM Investments’ strategy, risk management and major investment decisions across its retail, banking, property and portfolio businesses.
Commitment to responsible corporate practices
For his part, SM Investments president and CEO Frederic C. Dy Buncio said the recognition reflects the company’s commitment to responsible corporate practices.
“The achievement reflects SM Investments’ continuing commitment to integrity, transparency, accountability and responsible stewardship, with sound corporate governance serving as a foundation for sustainable growth and long-term stakeholder value,” Dy Buncio said.
Strategic guidance and oversight
The ACGS assessment covers shareholder rights and equitable treatment, sustainability and resilience, stakeholder relations, transparency and accountability, and the board’s strategic guidance and oversight.