Manila Water Company

Related Links

• Investor Guide
• Investor Resources
• Corporate Governance
• Investor Contact
• Investor Contact List
• Investor Relations Contact Information
• Disclosure List
• Back to Investor Relations

Related Articles

• Manila Water Capex Drives 1st Quarter Results
• Manila Water Bares Aggressive Expansion Plans
• Manila Water adjudged best-managed company by Asiamoney

Manila Water Receives Corporate Governance Award

Posted: Tuesday June 19, 2007

Manila Water was recently chosen as one of the recipients of the Corporate Governance Asia Annual Recognition Awards 2007. The award was given to Manila Water in recognition of its continuing commitment to the development of corporate governance in the region.

Corporate Governance Asia is the only journal currently specializing in corporate governance in the region. It evaluated the performance of key companies and listed those that have contributed significantly to the over-all development of corporate governance during the past year. In the Philippines, seven companies were chosen. Along with Manila Water, Ayala Corporation, Globe, Metrobank, PLDT, San Miguel Corporation and SM Investments were also cited.

According to Corporate Governance Asia, the annual recognition awards recognize Asian companies that demonstrate excellence in corporate governance with Asian values and spirit. The criteria for the award are as follows:

• The awardee must have must a previous publicly-acclaimed track record for corporate governance (This can be in the form of other CG-related awards);

• The awardee must have been involved in a specific publicly-known activity/activities (legislation, surveys, studies, etc.) directly related to improving or enhancing the standards of corporate governance during the past 12 months; and

• The awardee must have implemented significant and specific CG-related reforms during the past 12 months.

The award from Corporate Governance Asia was the third major CG-related award for Manila Water. In 2006, Manila Water ranked seventh (out of 64 listed companies) in the 2006 Corporate Governance Scorecard Project for Publicly-Listed Companies conducted by the Institute of Corporate Directors. In January 2007, Manila Water was also voted 2nd Best Over-all in Corporate Governance in the Philippines in a survey conducted by Asiamoney among fund management and brokerage companies across the region. This was quite significant considering that Manila Water has just been listed for two years and is the only medium-sized company among the seven Philippine awardees; the rest are large-cap stocks.

Since its listing in 2005, Manila Water has adopted several measures to strengthen its corporate governance. Among these are the adoption of a Code of Business Conduct and Ethics, the Insider Trading Policy, requirements on the acceptance of gifts, and Guidelines on Conflict of Interest. Manila Water also re-formatted its website and annual reports in line with its thrust of transparency of information and prompt and complete disclosure of all material facts relating to its business.

Photo shows Sherisa Nuesa, Chief Finance Officer of Manila Water, Aldrin Monsod, Publisher and Managing Director of New Initiative Media Limited and Jewel Austria, Compliance Manager of Manila Water.