The ASEAN Corporate Governance Scorecard (ACGS) created by the ASEAN Capital Markets Forum (ACMF) was launched in 2011 as one of the initiatives in preparation for the ASEAN economic integration in 2015.
The ACGS is based on the corporate governance principles of the Organisation for Economic Co-operation and Development (OECD), composed of two levels – Level 1 contains the main Scorecard items and Level 2 contains the bonus and penalty items. Through the standardized evaluation of corporate governance practices and principles the Scorecard provides, the initiative aims to raise the overall corporate governance standards of ASEAN publicly-listed companies, increase their visibility to investors and promote the ASEAN as a wise investment destination.
The ACGS evaluation is assigned by the ACMF to domestic ranking bodies (DRBs) in each ASEAN participating country, followed by a peer review conducted by the DRBs for neighbor participating countries in the region. The Top 50 ASEAN publicly-listed companies is announced at ACGS awarding ceremonies. In November 2015, Globe received two awards from the institution during the first ACGS Awards Ceremony held in Manila, Philippines as one of the Top 50 publicly-listed companies in the ACGS ranking for the ASEAN-participating countries and one of the Top 3 publicly-listed companies in the ACGS ranking for the Philippines. Globe bagged its second ACGS recognition during the Institutional Investors' Governance awards led by the Institute of Corporate Directors, Philippines' ACGS DRB, in November 2016 for being one of the top CG publicly-listed companies within a category based on market capitalization. It is our hope that Globe will continue to be part of this prestigious recognition to further strengthen the Philippine capital market presence in the region and show that the Philippine economy is composed of well-governed publicly-listed companies.
As a strong advocate of good CG, Globe actively joins this global movement through our various initiatives, company policies, and practices that subscribe to international best practices and standards. As such, Globe commits to continuously adopt and strongly advocate for the ACGS. We make Globe’s accomplished Scorecards publicly-available through our website as seen below:
ASEAN Corporate Governance Scorecard
Globe Telecom, Inc. (GLO)