This event was organized by the ASEAN Capital Markets Forum (ACMF) and hosted by the Philippine Securities and Exchange Commission (SEC). Leaders of the region's leading publicly-listed companies (PLCs) in South East Asia countries, capital markets regulators and governance experts converged to take part in the inaugural ASEAN Corporate Governance Conference and Awards (ACGCA) in Manila, Philippines.
The conference, which was themed Governance Transformation in ASEAN: Reform Priorities, place in the morning at the Asian Development Bank in Mandaluyong. As the kick-off of the big event, the conference was designed to spread awareness on the importance of good corporate governance and the application of the ASEAN Corporate Governance Scorecard (ACGS).
After the conference, all the delegates gathered one more time at the Manila Polo Club in Makati, to honor ASEAN’s PLCs with best practice of good governance based on the results of the ACGS assessment. The awards delegations witnessed more than 60 companies from across the region which some of them firstly recognized for their implementation of good corporate governance.
The award winning companies from Philippines, Malaysia, Indonesia, Thailand and Vietnam were scored based on the specifications of the ACGS that include rights of shareholders, equitable treatment, role of stakeholders, disclosure and transparency, board responsibilities, and bonuses and penalties. The top three highest scoring PLCs and the top two PLCs with outstanding achievements from each country were announced followed by the top 50 ASEAN.
From Indonesia itself, the Top Three Domestic Highest Scoring PLCs were PT. Bank Danamon Indonesia Tbk, PT. Bank CIMB Niaga Tbk, and PT. Aneka Tambang (Persero) Tbk; the top two PLCs with outstanding achievements were PT. Bank Tabungan Negara (Persero) Tbk and PT. Bank OCBC NISP Tbk; while two PLCs which incorporated into top 50 ASEAN were, PT. Bank Danamon Indonesia Tbk and PT. Bank CIMB Niaga Tbk.
The event was closed by the announcement of the top five ASEAN companies that have gained the highest scores from the ACGS. The top five awards winning companies in alphabetical order were, Bursa Malaysia Berhad from Malaysia, DBS Group Holdings LTD from Singapore, PTT Global Chemical Public Company Limited and Samart Corporation Public Company Limited from Thailand, and Singapore Telecommunications Limited from Singapore. A special award was given to Asia United Bank Philippines.