D&L Industries Inc. proved for the sixth year in a row that good governance never goes out of style.
The manufacturing and specialty chemicals company once again earned top marks from the Institute of Corporate Directors (ICD), bagging three Golden Arrows in the 2025 ASEAN Corporate Governance Scorecard—up from last year’s two. The recognition was formally awarded on October 23 at Okada Manila.
The Golden Arrow Awards shine a spotlight on publicly listed companies that excel in corporate governance, measuring their performance in key areas such as shareholder rights, transparency, sustainability, board effectiveness, and accountability. Simply put, more arrows mean stronger governance and sharper management.
The ICD, a non-profit organization dedicated to advancing good governance in the Philippines, serves as the local steward of the ACGS. Its mission: to turn responsible governance into a competitive edge — and, ideally, a national habit.
“We are deeply honored to receive three Golden Arrows this year,” said D&L President and CEO Alvin Lao. “From our initial one-arrow recognition, to two last year, and now three, this steady progression reflects our unwavering commitment to continuously elevate our corporate governance practices. At D&L, we view good governance as the cornerstone of sustainable growth and an essential part of how we create lasting value for our stakeholders.”
With three arrows now gleaming in its quiver, D&L’s governance aim looks steadier than ever — a golden standard others might soon try to match.
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