A culture of integrity

We aim for corporate governance founded on fairness, trust, transparency, and accountability that will help foster long-term investment, financial stability, business integrity, and the overall competitiveness of the organization. These principles are laid down in internal company policies that support stronger business growth and optimize value to shareholders. 


Board Committees

Audit and Risk Management Committee

The Audit and Risk Committee shall be composed of at least three (3) Directors, preferably with accounting, auditing, and finance background, and such other qualifications as may be required under the applicable rules and regulations promulgated by the SEC and other relevant regulatory bodies. The Chairperson of the Audit Committee should not be the Chairperson of the Board or of any other committees.

The Audit Committee should meet at least once every quarter. Its main responsibilities include: recommending the appointment of external auditors whose report they review; monitoring the system of internal controls and corporate compliance with laws, regulations and code of ethics; serving as a direct channel of communications to the Board for the internal auditors, the Compliance Officer, and the general counsel.

Corporate Governance Committee

The Corporate Governance Committee shall be composed of at least three (3) members, all of whom, including the Chairperson thereof, are preferably independent directors.

This committee shall:

1. Assist the Board in the performance of its corporate governance responsibilities in accordance with the relevant laws and regulations;
2. Review and evaluate the qualifications of all persons nominated to the Board as well as those nominated to other positions requiring appointment by the Board and provide assessment on the Board’s effectiveness in directing the process of renewing and replacing Board members; and
3. Establish formal and transparent procedure for developing a policy on executive remuneration, and for fixing the remuneration packages of corporate officers and directors, and provide oversight over remuneration of senior management and other key personnel.

Related Party Transactions Committee

The Related Party Transactions Committee shall be composed of at least three (3) Members, two (2) of whom, including the Committee Chairperson, are preferably independent directors. This committee shall be responsible for reviewing all material related party transactions of the company and shall be responsible for reviewing and proposing policies for related party transactions. This committee shall also be responsible for checking compliance with the related-party transactions policies as may be adopted by the Board.