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DMCI Holdings, SMPC recognized for Corporate Governance Excellence

October 2, 2023

 Pictured from left to right are Lead Independent Director Ferdinand M. dela Cruz, Chairman Isidro A. Consunji, Independent Director Francisco A. Dizon and Director Herbert M. Consunji, all from SMPC.

Integrated energy company Semirara Mining and Power Corporation (SMPC), and its parent company DMCI Holdings, have been recognized as the top-performing Philippine listed companies by the esteemed Institute of Corporate Directors (ICD).


DMCI Holdings and SMPC received the prestigious 3 Golden Arrow award, a testament to their sustained commitment to top-tier corporate governance standards. Both entities have been consistently recognized as ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow awardees since 2019.


This recognition emphasizes their unwavering dedication to the principles outlined in the Philippine Code of Corporate Governance and to the adoption of internationally acclaimed corporate governance practices, as endorsed by the ACGS.


In determining the awardees, the ACGS employs a comprehensive evaluation process that covers several facets: protecting shareholders' rights and ensuring their equitable treatment, forging robust relationships with diverse stakeholders, promoting transparency and accountability through timely disclosure of vital information, and the board's strategic direction, vigilant management oversight, and steadfast accountability to both the company and its shareholders.


Reflecting on the honor, DMCI Holdings and SMPC Chairman Isidro A. Consunji said, "These awards reflect our commitment to good corporate governance at DMCI Holdings and SMPC. We believe in the importance of transparency, accountability, and ethical business practices to build trust with our stakeholders and support steady growth."


The awarding ceremony, which commemorated the significant achievements of over 100 Philippine listed companies, was held at the Okada Hotel last September 28.