Axelum Resources Corp. (PSE: AXLM), the country’s leading fully-integrated manufacturer, exporter and retailer of globally in-demand consumer food essentials, primarily best-in-class premium coconut products, was bestowed the 2 Golden Arrow Award by the Institute of Corporate Directors, during the 2023 Golden Arrow Recognition held at Okada Manila on September 28, 2023.
The annual event recognizes the top Philippine publicly-listed companies and insurance companies in corporate governance based on the 2022 ASEAN Corporate Governance Scorecard (ACGS) and Corporate Governance Scorecard (CGS) Assessment Results, respectively.
The ACGS measures the performance of companies in the areas of facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability through timely disclosure of material information, and how the Board guides the company strategically, monitors the management, and ensures the Board’s accountability to shareholders. The ACGS aims to raise the corporate governance standards and practices of the country, and to make well-governed Philippine publicly-listed companies attractive to investors.
“We are definitely proud of this distinction, which is actually a step up from the previous one. Since our founding, we have always believed in maintaining a progressive mindset that takes into account the principles of integrity, transparency and best practices in the conduct of our business. In this way, we are able to create shared value for the organization and uphold the interests of our various stakeholders,” stated Mr. Romeo I. Chan, Chairman and Chief Executive Officer of Axelum Resources Corp.
The ASEAN Corporate Governance Scorecard is a pioneering initiative by the ASEAN Capital Markets Forum, a high-level grouping of capital market regulators from all ASEAN jurisdictions, to formally establish a structured assessment methodology aligned with international governance benchmarks based on disclosed information.
