First Philippine Holdings Corporation (FPH) and First Gen Corporation (First Gen) were once again awarded for their exemplary corporate governance at the prestigious Golden Arrow Awards, organized by the Institute of Corporate Directors (ICD), on September 28, 2023.
The Golden Arrow Awards, a significant recognition in the realm of corporate governance, honors top Philippine Publicly Listed Companies (PLCs) based on the 2022 Asian Corporate Governance Scorecard (ACGS) assessment results. To secure a Golden Arrow, a company must achieve an ACGS score of at least 80 points, with five distinct levels determined by this score. In this year's evaluation, FPH was distinguished with two Golden Arrows, while First Gen earned an impressive three Golden Arrows.
The ACGS, as outlined by the ICD, serves a critical purpose: to elevate the corporate governance standards and practices of the Philippines, making well-governed Philippine PLCs more appealing to potential investors. This rigorous assessment involves a comprehensive scorecard comprising 184 questions, all derived from publicly available disclosures on the companies’ websites.
The awards were graciously accepted by Lorraine N. Dychiao and Javi P. Bautista on behalf of FPH and First Gen, respectively, at the Golden Arrow Recognition ceremony held at Okada Manila.
Furthermore, the ICD, a non-stock and not-for-profit organization, stands as a stalwart institution dedicated to advancing the professionalization of Philippine corporate directorship. Their continued efforts are vital in shaping a corporate landscape characterized by integrity, transparency, and excellence.