Target Achieved: JG Summit Clinches Golden Arrow Award

Award salutes company’s adherence to industry best practices and principles of good governance

JG Summit Holdings, Inc. joined the elite winner’s circle at the 2023 ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards, attesting to the conglomerate’s upholding of good corporate governance principles and its continuous efforts to serve the best interests of its stakeholders.

Organized annually by the Institute of Corporate Directors (ICD), the ACGS Golden Arrow Awards recognize outstanding corporate governance practices of Philippine publicly listed companies. This year’s winners, judiciously selected based on the 2022 ASEAN Corporate Governance Scorecard assessment results, were honored at an awards ceremony held on September 28, 2023, at the Okada Manila hotel.

The ASEAN Corporate Governance Scorecard is a tool that aims to raise corporate governance standards and practices among ASEAN publicly listed companies, thereby improving overall investor sentiment. It was developed with the support of the Asian Development Bank and the ASEAN Capital Markets Forum together with corporate governance experts from six participating ASEAN members: Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam.

By earning its Golden Arrow, JG Summit, one of the largest and most diversified Filipino conglomerates, demonstrates its continued adherence to industry best practices in areas such as board governance responsibilities, disclosure and transparency, internal control, risk management frameworks, cultivation of synergic relationships with shareholders, and fulfilling duties to stakeholders. 

"Our unyielding pursuit of good corporate governance transcends mere compliance; it's about creating enhanced value propositions for our shareholders and customers, mitigating risks, fostering growth, and ensuring sustainability. We firmly believe that a well-managed and governed enterprise benefits not only our shareholders but also local communities through job creation and our corporate social responsibility programs," said Atty. Laurinda R. Rogero, JG Summit Vice-President for Compliance.

Celebrating the Gokongwei Group's multiple Golden Arrow awards are (from left) Atty. Bea Calayan-Gador (JG Summit), Aileen Isidro (Cebu Pacific), Atty. Winwin Rogero (JG Summit), Rhodora Lao (Universal Robina Corporation), Rommel Rodrigo (Robinsons Land), Gina Dipaling (Robinsons Retail Holdings), Christian Lorenz Pacheco (Altus Property Ventures), and James Arco (RLC Commercial REIT). IMAGE courtesy of ICD

A holding company with business interests in food manufacturing and agro-industrial commodities, real estate and hotels, air transportation, banking, and petrochemicals as well as core investments in telecommunications and power distribution, JG Summit’s commitment to the enforcement of good corporate governance extends to the companies and subsidiaries under its umbrella. These include Universal Robina Corporation, Cebu Pacific, Robinsons Land Corporation, RL Commercial REIT, and Altus Property Ventures, all of whom were recognized at this year’s Golden Arrow Awards.

Robinsons Retail Holdings, the retail arm of the Gokongwei Group, also received a Golden Arrow.

Together, the achievements of the companies under JG Summit and Robinsons Retail shine a light on the Gokongwei Group’s staunch and enduring commitment to excellence, transparency, and responsible corporate governance.