Press Release
November 14, 2015

Excerpts of Ambush Interview with Senate President Franklin M. Drilon at the ASEAN Corporate Governance Conference and Awards
November 14, 2015

Q: On the inclusion of Philippine publicly-listed companies (PLCs) to this year's ASEAN Top 50 PLCs

SPFMD: It was very very encouraging that in the ASEAN region, we have these companies who can be models for governance and we are willing to support any initiatives the SEC (Securities and Exchange Commission) may have in terms of legislation.

As you know, four years ago, we wrote the GOCC (Government-owned and controlled corporation) Governance Act which governed the manner in which GOCCs were being operated. It has tripled the contribution of the GOCCs to the national coffers, from about P12 billion in 2010 to P36 billion to 2014.

Q: How important is good corporate governance to our corporations?

SPFMD: With the ASEAN integration, it's very important that the principles of good governance are followed. The publicly-listed corporations would need this scorecard in order that the investing public can have confidence in the manner in which our corporations are being run.

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