In the world of publicly listed companies here in the Philippines, there is one scorecard that matters most - the inclusion in the ASEAN Corporate Governance or ACGS scorecard. This serves as a showcase to espouse that the company adheres with the international corporate governance best practices and constantly adheres to practices to be worthy of the trust of various stakeholders.
Leading property developer Robinsons Land Corporation (RLC) is one such company that recently made it to this elite list as domestic ranking body, the Institute of Corporate Directors, conferred RLC, the Golden Arrow Award during the recently held ACGS Golden Arrow Awards Night.
The ACGS measures the performance of a company in the areas of facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability through timely disclosure of material information, and how the Board guides the company strategically, monitors the management, and ensures the board’s accountability to the company and the shareholders.
The ACGS is a joint effort of the Asian Development Bank and the ASEAN Capital Markets Forum together with corporate governance experts from six participating ASEAN members namely, Indonesia, Malaysia, Singapore, Thailand, Vietnam, and the Philippines.
Of the 260 publicly listed companies covered in the recent round of ACGS assessment, only 85 (just 33 percent) made it to the coveted list. A company must attain an ACGS score of at least 80 points to get a Golden Arrow award.
“We are grateful for the recognition of being conferred the Golden Arrow Award. Earning this distinction for RLC affirms that the company is at the forefront of promoting transparency, accountability, and ethical business practices," said Kerwin Max S. Tan, RLC’s Chief Financial, Risk and Compliance Officer.
The Golden Arrow Award is just the latest of RLC's many achievements. Last October, the company was named Best Developer during the 10th PropertyGuru Philippines Property Awards night. RLC also went home with eight more recognitions: Best Developer (Luzon) award and the Special Recognition in ESG (Environment, Social, Governance) initiatives, as well as diverse awards for landmark projects such as Bridgetowne Destination Estate, Forbes Estates Lipa, Montclair Industrial Park, work.able Exxa-Zeta Center, the Robinsons Offices Headquarter, and Robinsons Hotels and Resorts.
Early last year, RLC was also hailed Developer of the Year by the DOT Property Philippines Awards 2022 citing RLC Residences as the Best Developer in Metro Manila and the Best Developer in Sustainable Living. In addition, it also received the Special Recognition Award for Community Building.
“Our inclusion in the prestigious list of Golden Arrow awardees exemplifies RLC's adoption of best globally accepted governance practices. We shall continuously act with transparency and accountability to ensure that all the interests of our stakeholders are preserved," adds Tan.