SM Investments Corp. (SMIC) and its subsidiaries earned top regional recognition from the ASEAN Capital Markets Forum (ACMF), solidifying the conglomerate’s leadership in corporate governance and sustainable business practices.
In the 2024 ASEAN Corporate Governance Scorecard (ACGS) Regional Assessment, SMIC and its property arm, SM Prime Holdings, Inc., were named among the Top 5 Philippine Publicly Listed Companies (PLCs) and Top 50 ASEAN PLCs—a distinction highlighting their adherence to international corporate governance standards. This marks the second time the ACMF has affirmed SM’s governance excellence, following similar honors in 2022.
SM’s banking unit, BDO Unibank, Inc., also secured a position in the Top 50 ASEAN PLCs, making it the only Philippine bank on the prestigious list. Alongside BDO, China Banking Corporation (Chinabank), another SM-affiliated bank, was recognized under the ASEAN Asset Class, an elite category for firms with consistently high ACGS scores.
Of the six Philippine PLCs honored regionally, three hailed from the SM Group, underscoring its significant representation and influence in the ASEAN capital market.
“This recognition affirms our commitment to global governance standards, which build trust and sustainable value,” said Frederic C. DyBuncio, president and CEO of SMIC. Jeffrey C. Lim, president of SM Prime, added that the accolade validates the group’s focus on long-term stakeholder value and resilient community building.
Nestor V. Tan, BDO president, emphasized the award as a testament to the bank’s strict compliance and ethical oversight, while Romeo D. Uyan, Jr., Chinabank president and CEO, highlighted the bank’s drive toward ethical stewardship and stakeholder value.
The 2024 ACGS evaluated 569 large-cap PLCs across ASEAN, using public disclosures such as annual reports, corporate websites, and sustainability disclosures. The initiative—backed by the ASEAN Corporate Governance Initiative and supported by the Asian Development Bank—continues to foster transparency, board accountability, and long-term sustainability across the region.
The recognition not only enhances the SM Group’s reputation among investors and regulators but also strengthens its strategic positioning as a corporate governance leader across ASEAN.
