MANILA, Philippines — Chemicals and food ingredients company D&L Industries has joined the roster of Philippine listed companies recognized for outstanding corporate governance practices.
For the fourth consecutive year, the company received the Golden Arrow Award from the Institute of Corporate Directors (ICD) for outstanding corporate governance practices based on the ASEAN Corporate Governance Scorecard (ACGS).
“We are honored to receive such prestigious recognition from the ICD,” said D&L president and CEO Alvin Lao.
He said it is a top priority for the company to uphold the highest standards of good corporate governance.
“We see it as the solid foundation for a sustainable and lasting organization,” Lao said.
The ACGS particularly measures the performance of the companies in the areas of facilitating the rights and the equitable treatment of shareholders.
These efforts include transparency and accountability through disclosure of material information; the board of directors’ guidance as well as monitoring of management.
Aside from D&L, top conglomerates Ayala Corp., SM Investments Corp. and the Filinvest Group have received Golden Arrow awards. Po family-led companies Century Pacific Food Inc. and Shakey’s Pizza Asia Ventures Inc. also received the recognition from ICD for their corporate governance practices.
ICD is a non-stock, not-for-profit national association of corporate directors and other stakeholders engaged in corporate governance. Its mission is to champion good corporate governance and stewardship for the benefit of the society. It aims to be the key catalyst in the Philippine corporate governance ecosystem for inclusive and sustainable development.
D&L Industries is engaged in product customization and specialization for the food, chemicals, plastics and consumer products ODM industries.
The company’s principal business activities include manufacturing of customized food ingredients, specialty raw materials for plastics, and oleochemicals for personal and home care use.
At present, D&L has the largest market share in each of the industries it serves.