Megawide Earns Recognition For Corporate Governance Excellence

Megawide Construction Corporation, a renowned infrastructure and engineering firm in the Philippines, proudly announces its third consecutive recognition by the Institute of Corporate Directors (ICD) for outstanding corporate governance practices.

Celebrating Excellence: Megawide Receives Third Consecutive Golden Arrow Recognition for Outstanding Corporate Governance Practices. | Photo: Megawide C.E.L.S.

During the prestigious Golden Arrow Recognition event held on September 28th at Okada Manila, Megawide was acknowledged for its exemplary performance in the 2022 ASEAN Corporate Governance Scorecard (ACGS).

The Golden Arrow Recognition is bestowed upon publicly listed companies and insurance firms based on their outstanding results in the 2022 ASEAN Corporate Governance Scorecard (ACGS) and Corporate Governance Scorecard (CGS) Assessments.

Megawide's remarkable achievement was marked by the receipt of Two Golden Arrows, equivalent to an exceptional ACGS score ranging from 90 to 99 points.

This accolade marks the third consecutive year that Megawide has received Two Golden Arrows from the ICD, affirming its unwavering commitment to corporate governance excellence.

In 2021, the company also received Two Golden Arrows along with the "Most Improved Publicly Listed Company in Terms of Corporate Governance" distinction.

"At Megawide, as a listed company and a partner in major Philippine infrastructure projects, we are dedicated to collaborating with regulators and other stakeholders to uphold the highest corporate governance standards across our group of companies," stated Atty. Raymund J. Gomez, Megawide's Chief Legal and Compliance Officer.

Megawide's commitment to sound governance is further validated by its other notable achievements.

In FinanceAsia's 2022 Best Managed Companies Poll, Megawide clinched the Regional Awards for Industrials and the Country Awards for Most Effective in Creating and Implementing Diversity & Inclusion Policies over the past year.

The company's dedication to Investor Relations also received accolades when IR Magazine honored Ms. Joan Cosico, Chief Investor Relations Officer, as the Best Investor Relations Officer (for small cap) in the 2022 IR Magazine Awards South East Asia.

Furthermore, Megawide's 2021 Annual and Sustainability Report, titled "Relentless," was recognized as a Finalist in the Best Annual Report category, underscoring the company's commitment to disclosure and transparency.

Megawide's robust corporate governance framework extends to all its subsidiaries and affiliates, including those operating critical infrastructure facilities like the Paranaque Integrated Terminal Exchange and the recently acquired property arm, PH1 World Developers.

"Celebrating good corporate governance is vital to delivering exceptional public service for the Filipino people, and it begins from within the organization to be appreciated by external stakeholders," emphasized Gomez.

The ACGS evaluates companies based on equitable treatment of shareholders, stakeholder relationships, transparency through timely disclosures of material information, and effective board leadership.

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