The Ayala-led Cebu Property Ventures and Development Corporation (CPVDC) was recognized as among the top five companies in the Philippines for being “best in corporate governance” for 2016.
CPVDC, a subsidiary of Cebu Holdings, Inc. (CHI), was the only Cebu-based company among the top firms recognized for exemplifying excellence in corporate governance at the 5th Annual Bell Awards this year.
“As CHI and CPVDC continue to grow its businesses, contribute to the Cebu economy and employment of thousands of workers, we similarly continue to strengthen commitment to good corporate governance, strong business ethics and sound risk management,” CHI president Jun Bisnar said in a statement on Monday.
CHI was also recognized as one of the top ten finalists in the 2016 PSE Bell Awards.
Bisnar said they focused on programs and initiatives not only for their shareholders, but for a broader group of stakeholders as the company increases its circle of influence in the communities where it operates.
CPVDC, alongside Aboitiz Power Corp., Manila Water Company, China Banking Corp. and Philex Mining Corp., was chosen among the 300 publicly listed companies at the Philippine Stock Exchange out of the more than 1,000 companies registered with the Securities and Exchange Commission (SEC).
The 5th Annual PSE Bell Awards for “Excellence in Corporate Governance” was held at the Makati Diamond Residences last Nov. 10, Thursday.
In a statement sent to CDN, CPVDC said its corporate governance structure is a key element in promoting competitiveness, improving financial growth and ultimately enhancing investor confidence. It facilitates an efficient enforcement of CPVDC’s sustainability framework.
CPVDC is now on its 26th year of operations.
With its flagship project, the Cebu I.T. Park, CPVDC has been at the forefront of promoting the IT and BPO industry in Cebu.
To date, Cebu I.T. Park generates almost 50,000 jobs. Cebu has also been cited as the 7th top BPO destination globally.
The PSE Bell Award is the highest accolade given locally to listed companies with “world-class corporate governance standards and practices.” (CEBU DAILY NEWS)