By THEPHILBIZNEWS STAFF
International Container Terminal Services, Inc. (ICTSI) had a great night at the 9th Asian Excellence Awards, bagging not one, not two, but three major corporate governance awards that saw its chairman and president, Enrique K. Razon, hailed as Asia’s Best CEO (Investor Relations).
Hong Kong-based Corporate Governance Asia, the region’s most authoritative journal on corporate governance, clearly counted ICTSI as among the top Asian companies that has shown all-round governance excellence and financial management for 2018 at its annual awards ceremony last June 28.
Specifically, the global port operator was recognized at the awards as one of the Best Investor Relations Companies in the Philippines, owing to Razon’s “superior leadership and excellence in driving ICTSI’s overall management and growth.”
At the same time, ICTSI Senior Vice President and Chief Financial Officer Rafael D. Consing Jr. was named Asia’s Best CFO (Investor Relations), while ICTSI Treasury Director and Head of Investor Relations Arthur R. Tabuena was recognized as the Philippines’ Best Investor Relations Professional.
Now in its ninth year, the Asian Excellence Awards recognizes companies for their achievements and superiority in management acumen, financial performance, corporate social responsibility, environmental practices and investor relations. Winners were selected from several countries across the region, including China, Hong Kong, India, Japan, Korea, Indonesia, Malaysia, Singapore, Taiwan, Thailand, Vietnam, and the Philippines.
Adding to the long list of awards recognizing ICTSI for its governance excellence is Alpha Southeast Asia that cited the Company as one of the best managed companies in the Philippines – clinching five awards in the 9th Annual Institutional Investor Awards.
ICTSI led publicly-listed companies in the country as having the Strongest Adherence to Corporate Governance and Most Organized Investor Relations Company; whilst second best in having the Best Senior Management IR Support and Most Consistent Dividend Policy.
In the same awards tilt, Mr. Consing was also named as the Philippines’ Best CFO. This is Mr. Consing’s second time to receive the coveted award from Alpha Southeast Asia, bagging the recognition for the first time in 2017.
As the only poll focused on Southeast Asia, the Institutional Investor Awards gauges performance in financial management, adherence to corporate governance, integrated reporting/CSR & IR. The awards presentation for Philippine winners will be held in Singapore on September 17.
Still in recognition of the Company’s commitment towards responsible stewardship, the Institute of Corporate Directors (ICD) rated ICTSI for being one of the high-ranking PLCs in the Philippines based on the Asean Corporate Governance Scorecard (ACGS).
Lauded for its 2018 results, the Company maintains commendable compliance with the best practices in the following areas: Board responsibilities, disclosure and transparency, rights of shareholders, equitable treatment of shareholders; and role of stakeholders.
Benchmarked against international best practices, the ACGS’ rigorous methodology provides foreign investors and external fund managers with comparable information from which to base their investment decision-making process.
Mr. Consing, who also serves as the Company’s Compliance Officer, welcomed these citations for ICTSI and its key officers: “Amidst an ever-evolving regulatory environment, these recognitions affirm that we are at the right track in ensuring ICTSI’s Group-wide commitment to sound, prudent and effective management – the bedrock of business sustainability. Our continuing adherence to good corporate governance, in turn, fulfills our vision to build long-term stakeholder and shareholder value.”
As a key player in the global supply chain, ICTSI has expanded the scope of its impact management, part of its efforts of guaranteeing good corporate governance. In 2018, ICTSI adopted new supply chain measures aligned with its sustainability objectives – including screening of new suppliers, using environmental criteria; measurement of spending on local suppliers; and assessing suppliers’ environmental impact.
On top of key governance frameworks in place, ICTSI has made various efforts over the previous year to promote transparency and fairness in the Company’s dealings and relationships with stakeholders – including the appointment of a third independent director within ICTSI’s board; and the adoption of a Conflict of Interest Policy and an Anti-Bribery Policy in 2018.