SM Group bags corporate governance awards

MANILA, Philippines - Executives of SM Investments Corp. (SMIC) and its subsidiaries have bagged numerous awards from an Asian magazine for protecting the rights of shareholders.

In a statement, SMIC said its operating arms BDO Unibank Inc., SM Development Corp. (SMDC) and SM Prime Holdings Inc. received several honors from Corporate Governance Asia, a Hong Kong-based magazine specializing in corporate governance issues in the region.

“The 3rd Asian Excellence Recognition Awards by Corporate Governance Asia highlight excellence in investor communications, business ethics, corporate social responsibility (CSR), environmental practices and financial performance,” SMIC said.

The conglomerate said Corporate Governance Asia recognized SMIC’s continuing commitment to the development of corporate governance in investor relations, CSR and environmental responsibility in the region.

Specifically, BDO chairperson Teresita T. Sy-Coson and SMC chairman and CEO Henry T. Sy, Jr. grabbed the Asia’s Best CEO plum.

Corporate Governance Asia awarded SMIC chief finance officer Jose T. Sio and BDO treasurer Pedro M. Florescio III as Asia’s Best CFO.

Parent firm SMIC, for its part, was awarded as the Best Investor Relations Company, Best Investor Relations Professional (Corazon Guidote), Best Investor Relations Web- site/Promotion and Best CSR.

Property developer SMDC also grabbed the Best Investor Relations Website/Promotion award.

Mall developer and operator SM Prime won as the Best in Environmental Responsibility and Best Investor Relations Company.

BDO, the Philippines’ largest bank in terms of assets, was tagged as the Best Investor Relations Company and Best Investor Relations Professional (Luis Reyes, Jr.).

Corporate Governance Asia came up with the recognition based on scores from the data submitted by the publication’s readers and from interviews conducted with investors.

The publication cited SMIC and its subsidiaries during an awards dinner late last month at the Renaissance Harbour View Hotel in Hong Kong.

SMIC, the most valuable firm in the Philippines, started its first ShoeMart store in 1958. It is now into retail (SM Retail Inc.), malls, banking, property and hospitality businesses (SM Hotels and Conventions Corp.).

Earnings of SMIC jumped 16.5 percent to a record P24.7 billion last year from P21.2 billion a year ago. Revenues climbed 12 percent to P223.9 billion from P199.9 billion in the previous year.

In its 2013-2015 plan, SMIC is aiming to grow by another 12 to 15 percent annually that will be supported the company’s continuous expansion.