Integrated energy company Semirara Mining and Power Corporation has been hailed as one
of the top-ranking Philippine publicly listed companies (PLCs) for its corporate governance practices
by the ASEAN Capital Markets Forum (ACMF), together with the Asian Development Bank (ADB) and
Institute of Corporate Directors (ICD) Philippines. The virtual awards ceremony was held on December
1, 2022.

“We are honored to be an ASEAN Asset Class awardee for the 2021 assessment year. Our
goal is to continue improving for the sake of our stakeholders,” said SMPC President and COO Maria
Cristina C. Gotianun.

The ASEAN Asset Class award is given to companies that score 97.50 points or above.
SMPC was one of 32 Philippine PLCs that made the cut, after scoring 100.76 points in the
ASEAN Corporate Governance Scorecard (ACGS) assessment.

The evaluation was based on a rigorous methodology benchmarked against the corporate
governance best practices of six participating ASEAN member-countries, namely Indonesia,
Malaysia, Philippines, Thailand, Singapore and Vietnam.

Developed by the ACMF and ADB, and administered locally by the ICD, the ACGS
assessment is conducted every two years using publicly available information and benchmarked
against international best practices on corporate governance.

The initiative aims to encourage companies across the region to improve their corporate
governance performance and promote the ASEAN region as an investment destination.

SMPC also received the same recognition for the 2019 ACGS assessment, demonstrating
the company’s strong commitment to good corporate governance.