PhilNaRe Receives 86.7% Rating in ICD’s 2010 Corporate Governance Scorecard
[November 2, 2011]
PhilNaRe received a rating of 86.7% in the Institute of Corporate Directors (ICD) 2010 Corporate
Governance Scorecard for publicly-listed companies in the Philippines. This is well above the
national average of 77% 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.