The SM Group has once again proven its leadership in corporate governance, with multiple companies earning top honors at the prestigious ASEAN Capital Market Forum (ACMF) awards.
SM Investments Corporation, the conglomerate behind the country’s largest retail, banking, and property enterprises, and its property powerhouse, SM Prime Holdings, Inc., both secured spots among the Top 5 publicly listed companies (PLCs) in the Philippines and Top 50 across ASEAN.
Joining them on the regional stage was SM’s banking arm, BDO Unibank, Inc., the only Philippine bank to make it into the Top 50 ASEAN PLCs. Out of six Philippine companies recognized this year, half came from the SM Group—underscoring the conglomerate’s dominance in good governance practices.
Adding to the honors, China Banking Corporation (Chinabank), another SM financial institution, was named to the elite ASEAN Asset Class—an award reserved for companies that have consistently achieved high scores in the ASEAN Corporate Governance Scorecard (ACGS).
This marks the second time SM Investments and SM Prime have earned top rankings since the 2022 ACGS awards, once again validating that their governance standards meet globally recognized best practices.
“Good governance is essential to long-term value creation,” said Frederic C. DyBuncio, President and CEO of SM Investments Corporation. “We align our practices with global standards to build trust and deliver sustainable outcomes for stakeholders and communities.”
Jeffrey C. Lim, President of SM Prime Holdings, added, “This recognition affirms that good governance and long-term value creation go hand in hand—for both shareholders and the communities we serve.”
BDO Unibank President Nestor V. Tan emphasized the bank’s principles of strict compliance and sustainable value creation, while Chinabank President and CEO Romeo D. Uyan, Jr. underscored their commitment to ethical stewardship beyond mere compliance.
The 2024 ACGS Regional Assessment evaluated 569 large-market-cap PLCs across ASEAN, measuring transparency, board accountability, shareholder rights, and sustainability initiatives. The rigorous process includes both domestic and regional peer evaluations, relying solely on publicly available information such as annual reports, sustainability disclosures, and corporate governance policies.
Since its inception in 2011, the ASEAN Corporate Governance Initiative, in partnership with the Asian Development Bank, has driven companies toward higher transparency, ethical leadership, and sustainable business practices. For the SM Group, this year’s awards are more than just recognition—they are a testament to a deeply rooted corporate culture that prioritizes integrity, accountability, and long-term impact.