SECURITY BANK CORPORATION received an award for excellence in corporate governance at the Corporate Governance Asia Annual Recognition Awards 2010 honoring The Best of Asia among publicly listed companies in the region.
Security Bank passed the stringent selection process after it met the following criteria: publicly acclaimed track record for corporate governance in the form of other CG-related awards; direct involvement in improving the standards of corporate governance, implementation of significant CG-related reforms; strong commitment in upholding the rights of shareholders, espousal of the practices of transparency and disclosure, board and management discipline, and adoption of corporate social responsibility and environmental practices.
“This recognition demonstrates Security Bank’s ability to implement excellent standards of corporate governance in response to their highly challenging operating environments, thereby creating value for our stakeholders. We remain committed to exercise outstanding stewardship, and maintain the highest standards in financial and operational reporting,? said Alberto Villarosa, SBC President and Chief Executive Officer.
SBC Senior Vice President and Corporate Planning Head Melissa Aquino received the award for the Bank at the awards ceremonies held in Hong Kong recently. Corporate Governance Asia organized this awards program to recognize companies in Asia that have a strong commitment to uphold company values and stakeholders” rights.
?We are pleased to host this awards program for the past 7 years now to honor companies that exemplify sound corporate governance. The awards emphasize the importance of responsibility, transparency and accountability in the business practice. I congratulate Security Bank for its demonstration of business excellence in corporate governance, truly deserving to be counted among the Best of Asia. ?said Aldrin Monsod, Publisher of Corporate Governance Asia.
This international award comes in the heels of another award that placed Security Bank in the Silver Category among the Top-scoring Publicly Listed Companies (PLCs) in the Philippines by the Institute of Corporate Directors (ICD) in its 2009 Corporate Governance Scorecard. The CG Scorecard project is jointly administered with ICD partners namely the Securities and Exchange Commission (SEC), the Philippine Stock Exchange (PSE), The Institute of Internal Auditors of the Philippines (IIA-P), the Ateneo Law School and the Center for International Private Enterprise (CIPE).