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MANILA, Philippines – Three subsidiaries of the Ayala group bagged Monday, November 10, the highest citation given by the Philippine Stock Exchange (PSE) to listed companies that practice exemplary good governance.
Cebu Holdings Inc., Manila Water Company, and Ayala Land Inc. were recognized as recipients of the 2014 PSE Bell Awards. The rest of the winners include the Aboitiz Power Corporation and China Banking Corporation of the SM group.
Manila Water and China Bank have bagged the awards 3 times since PSE launched the annual ceremony in 2012.
On the other hand, Ayala Land Inc., received its first award in 2012, along with Globe Telecom Inc., SM Prime, China Bank, and Manila Water Company Inc.
Cebu Holdings and Aboitiz Power Corporation are first-time awardees, although their affiliates received the same award in previous years. The Aboitiz family’s Aboitiz Equity Ventures Inc., for instance, received a Bell Award in 2013.
PSE President and CEO Hans Sicat hopes that the annual search for companies with outstanding corporate governance practices would strive to be on par with those who have been recognized.
Finalists of this year’s Bell Awards include San Miguel Purefoods Company Inc., Philippine Savings Bank, Globe Telecom Inc., BDO Unibank Inc., and Aboitiz Equity Ventures Inc. – Rappler.com