Villar Group gets award for excellent governance

MANILA, Philippines — The Villar Group has expressed its commitment to continue safeguarding the interests of its shareholders and stakeholders by adhering to the highest standards of corporate governance.

The group’s listed companies such as Vista Land & Lifescapes Inc., AllDay Marts Inc., AllHome Corp., Golden MV Holdings, Inc., and Vistamalls Inc., were recently recognized for their exemplary corporate governance practices by the Institute of Corporate Directors.

Vista Land has been recognized with a Golden Arrow Award for two consecutive years, progressing from a 1-arrow recognition to a 2-arrow recognition in the 2021 and 2022 ASEAN Corporate Governance Scorecard (ACGS) assessments.

“This accolade is more than just a symbolic achievement; it reflects our unwavering pursuit of excellence in every aspect of our operations and our unwavering commitment to the future,” Vista Land chairman Manuel Villar Jr. said.

“We pledge to continue pushing the boundaries of corporate governance, transparency, and responsible business practices across all our companies. We are embarking on a journey filled with renewed determination to create a brighter and more sustainable future for all,” he said.

The assessment by ACGS evaluated the group’s performance in alignment with the Organization for Economic Cooperation and Development principles of corporate governance.

The evaluation encompassed five essential areas which include facilitating the rights and equitable treatment of shareholders, relations with diverse stakeholders, ensuring transparency and accountability through timely disclosure of material information, strategic guidance by the board, and oversight of management and ensuring the board’s accountability to the company and shareholders.

“This recognition underscores our firm commitment to values like transparency, consistency, equality, and compliance in practicing good corporate governance,” Vista Land president and CEO Manuel Paolo Villar said.

“These principles help us foster an environment of trust, transparency, and accountability, ultimately bolstering long-term investments, financial stability, and business integrity while solidifying our relationships with customers and stakeholders,” he said.