At the 2024 Golden Arrow Awards, the Institute of Corporate Directors recognized Philippine publicly listed companies for leading in corporate governance.After marking its 25th anniversary via a good governance summit at the Manila Marriott Hotel ballroom during the day of September 19, ICD awarded PLCs at nighttime.Awardees were PLCs that scored high on the Association of Southeast Asian Nations or Asean Corporate Governance Scorecard in 2023.
ACGS involved 184 questions that were answered using publicly disclosed information and were ranked using a five-tiered system of points.Questions on stockholder rights could get up to 10 points; shareholders' equitable treatment, up to 10 points; stockholders' roles, 15 points; disclosure and transparency, 25 points; board responsibilities, 40 points; and bonus and penalties, 30 points.