Semirara hailed as top-ranked listed firm

INTEGRATED energy company Semirara Mining and Power Corp. has been hailed as one of the top-ranking Philippine publicly listed companies for its corporate governance practices by the Asean Capital Markets Forum (ACMF), together with the Asian Development Bank (ADB) and Institute of Corporate Directors (ICD) Philippines.

"We are honored to be an Asean Asset Class awardee for the 2021 assessment year. Our goal is to continue improving for the sake of our stakeholders," said Maria Cristina Gotianun, SMPC president and chief operating officer.

The Asean Asset Class award is given to companies that score 97.50 points or above.

SMPC was one of 32 Philippine PLCs that made the cut, after scoring 100.76 points in the Asean Corporate Governance Scorecard (ACGS) assessment.

The evaluation was based on a rigorous methodology benchmarked against the corporate governance best practices of six participating Asean member countries, namely Indonesia, Malaysia, the Philippines, Thailand, Singapore and Vietnam.

Developed by the ACMF and ADB, and administered locally by the ICD, the ACGS assessment is conducted every two years using publicly available information and benchmarked against international best practices on corporate governance.

The initiative aims to encourage companies across the region to improve their corporate governance performance and promote the Asean region as an investment destination.

SMPC also received the same recognition for the 2019 ACGS assessment, demonstrating the company's strong commitment to good corporate governance.

Source: The Manila Times