Metro Global Holdings Corporation Honored with Golden Arrow Awards for Excellence in Corporate Governance

October 16, 2024

Metro Global Holdings Corporation (MGH) was recognized for its corporate governance excellence and named as one of the top-performing Philippine publicly listed companies (PLCs) based on the 2023 ASEAN Corporate Governance Scorecard (ACGS) by the Institute of Corporate Directors. MGH received the 1-Golden Arrow recognition at the 2024 ACGS Golden Arrow Awards Night at Manila Marriot Hotel last September 19, 2024.

The award, given by the Institute of Corporate Directors (ICD) is based on ACGS, which measures the performance of companies in five key areas: rights of shareholders, equitable treatment of shareholders, role of stakeholders, disclosure and transparency and effectiveness of the board of directors in guiding the company's strategic direction, monitoring management performance, and ensuring board accountability to the company and their shareholders.

Metro Global Holdings Corporation Corporate Governance Committee Chairman Jose Wilfrido Suarez and Chief Financial Officer Ramon G. Jimenez receives the award for Metro Global Holdings at the 2024 ACGS Golden Arrow Awards

The ACGS provides a rigorous methodology benchmarked against international best practice to assess the corporate governance performance of publicly listed companies (PLCs) in the six participating ASEAN member countries namely the Philippines, Indonesia, Malaysia, Singapore, Thailand, and Vietnam. This initiative, led by the ASEAN Capital Markets Forum (ACMF) in partnership with the Asian Development Bank, aims to enhance corporate governance standards and practices among ASEAN PLCs.

The Golden Arrow is awarded to companies that achieved a score of at least 80 points in the ACGS Assessments, and have exhibited observable conformance with the Philippine Code of Corporate Governance and internationally recommended corporate governance practices as espoused by the ACGS.

The Golden Arrow Award recognition of MGH underscores MGH’s ongoing efforts to align its practices with internationally recognized governance practices, further deepening its commitment to shareholders.