ICD cites Megawide’s effective corporate governance with more “Golden Arrows” 

Three years with two Golden Arrows—focused on a First-World vision.  

Megawide continues its streak of earning key citations from industry stalwarts—this time, by the Institute of Corporate Directors (ICD), as it bagged two more “Golden Arrows” at the Golden Arrow Recognition last September 28. 

The Philippines’ leading infrastructure company maintained its lofty position among an elite circle of publicly listed and insurance firms that were distinguished for superior corporate governance practices, based on the results of the 2022 ASEAN Corporate Governance Scorecard (ACGS) and Corporate Governance Scorecard (CGS) assessments. 

The ICD is a non-stock, not-for-profit national association of corporate directors and other stakeholders engaged in corporate governance. It has been three straight years since the infrastructure conglomerate boosted its cache of Golden Arrows for its exemplary ACGS performance from the said organization. Its breakthrough conferment was in 2021 as “Most Improved Publicly-Listed Company” by virtue of its elevated level of corporate governance.  

Megawide hit the ACGS “sweet spot” of 90 to 99 points, which earned its third set of two Golden Arrows in as many years. AGCS measures the performance of companies in the areas of shareholders’ equitable treatment, stakeholder relations, transparency through timely disclosures of material information, as well as board leadership. 

Chief Legal and Compliance Officer Atty. Raymund J. Gomez attests to Megawide’s commitment to collaborate with regulators and stakeholders, being a listed company and partner to the country’s major infrastructure efforts. 

“This is vital for Megawide, as we uphold corporate-governance standards across our conglomerate,” said Atty. Gomez. 

Sound governance cited 

Megawide’s recent haul of two Golden Arrows is the latest in the string of accolades that attest to its sound corporate-governance platform. In fact, in less than a year, it garnered commendations in Finance Asia’s “2022 Best Managed Companies’ Poll;” specifically, in the “Regional Awards for Industrials” and the “Country Awards for Most Effective in Creating and Implementing Diversity & Inclusion Policies.”  

The Company’s 2021 Annual Sustainability Report, aptly entitled Relentless, likewise made its mark in the said poll, which attests to its firm disclosure and transparency policies.  

Moreover, its Investor Relations program was lauded in the 2022 IR Magazine Awards South East Asia, with its Chief Investor Relations Officer Joan Cosico emerging as “Best Investor Relations Officer.” 

These awards manifest Megawide’s relentless pursuit and implementation of a robust corporate-governance framework that spans subsidiaries and affiliates operating vital infrastructure. Standing proof of these best practices by the company are the Parañaque Integrated Terminal Exchange or PITX, as well as its recent property acquisition PH1 World Developers.  

High standards upheld 

For Atty. Gomez, effective corporate governance is key in delivering high standards of public service for the Filipino people.  

“To be appreciated by external stakeholders, it should emanate from within the organization,” the company’s legal executive emphasized. 

Armed with “golden arrows” in its arsenal, Megawide aims for higher levels of corporate governance with its industry-leading practices—all toward the noble target of a first-world Philippines. 

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