Biz Buzz: SM gets 5 arrows—times four

We’ve just talked about how five arrows was the highest achievement in the Asean Corporate Governance Scorecard (ACGS), and it should not come as a surprise that the country’s largest conglomerate took this award home.

We’re talking about SM Investments Corp. (SMIC), which clinched the 5 Golden Arrow Award recognition conferred by the Institute of Corporate Directors.

But it’s not just that. The ICD gave this award to only five companies this year, and four of them happen to be under the SM Group.

Apart from SMIC, the award was given to banking giants BDO Unibank Inc. and China Banking Corp., as well as property firm SM Prime Holdings Inc.

“This recognition reflects the commitment and hard work of our entire organization,” SMIC chair Amando Tetangco Jr. said in a statement.

The ACGS measures companies’ performance in terms of governance, particularly shareholders’ rights, transparency and accountability.

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“We recognize the rising global attention on corporate governance and sustainability as part of companies’ business strategies,” SMIC chief risk and compliance officer Elizabeth Anne Uychaco said.

With all these Sy family-led firms poised to end 2024 with record earnings, we’re on the edge of our seats to know what the year brings for them—and, therefore, us.