Pasay City – November 06, 2026 -- SM Investments Corporation has received the Institute of Corporate Directors (ICD) Five Golden Arrow Award for the third consecutive year, the highest rating in the corporate governance awards program.
SM Prime and Chinabank join the parent at the top rating tier
SM Prime Holdings, Inc. and China Banking Corporation (Chinabank) each received Five Golden Arrows. BDO Unibank, Inc. and Belle Corporation received 4 Golden Arrows.
2025 ASEAN scorecard drives the 2026 ratings
The 2026 recognition is based on the 2025 ASEAN Corporate Governance Scorecard (ACGS) assessment. The ACGS covers shareholder rights and equitable treatment, sustainability and resilience, stakeholder relations, transparency through timely disclosure, and the Board's strategic guidance and accountability. Investors use it to compare corporate governance practices.
Independent chairman leads board oversight of retail, banking and property
SM Investments' Board is led by an independent Chairman, Amando M. Tetangco Jr., the company's first in that role and a former two-term Governor of the Bangko Sentral ng Pilipinas. Tetangco said strong governance is "central" to creating long-term stakeholder value.
The Board oversees the parent company's strategy, risk management and major investment decisions across retail, banking, property and portfolio businesses. That oversight informs where to invest, how to manage financial obligations and how much cash to return to shareholders. The operating companies keep their own boards and management teams, which are accountable for their respective businesses.
President and CEO Frederic C. DyBuncio said the award reflects the company's commitment to integrity, transparency, accountability and responsible stewardship.
The recognition comes as SM marks 68 years since the opening of its first Shoemart store.