PhilNaRe Receives 85.6% Rating in ICD’s 2009 Corporate Governance Scorecard
June 23, 2010
PhilNaRe received a rating of 85.6% in the Institute of Corporate Directors (ICD) 2009 Corporate Governance Scorecard for publicly-listed companies in the Philippines. This is well above the national average of 73% and places PhilNaRe in the Second Quartile of all companies surveyed.
The ICD is primarily an Institute “of, for and by corporate directors” made up mainly of individuals and reputational agents committed to the professional practice of corporate directorship in line with global principles of modern corporate governance. It conducts a professional directors training program and is accredited by the SEC, the BSP, the IC and the DOF to conduct corporate governance orientation programs. It works with partners in a joint pursuit of systemic corporate governance reforms in the Philippines and the East Asian region. It is a founding member and permanent secretariat of the Institute of Directors in East Asia Network (IDEA.net) composed of representatives from Thailand, Indonesia, Singapore, China, Hong Kong, South Korea, Taiwan and Malaysia.