Published: 08:00 AM, December 18, 2017

Updated: 01:58 PM, December 18, 2017

GCG Awards Ceremonies Dusit Thani Manila November 24, 2017

After the Institute of Corporate Directors (ICD) completed the 2016 ASEAN Corporate Governance Scorecard (ACGS) assessment of Government Owned or Controlled Corporations (GOCCs), the Government Commission for GOCCs (GCG) recognized top-performing GOCCs in an Awarding Ceremony last November 24, 2017.

From Left: GCG Director William Ruyeras; ICD Chair Francis Estrada; GCG Chair Samuel Dagpin Jr.; GCG Commissioners Marites Doral and Atty. Michael P. Cloribel; ICD CEO Ricardo Jacinto


Held in Dusit Thani Manila, the program was opened with a few words from Atty. Samuel G. Dagpin Jr. He was later joined onstage by ICD Chairman Francis G. Estrada and Chief Executive Officer Ricardo Nicanor Jacinto, together with GCG Commissioners Marites C. Doral and Atty. Michael P. Cloribel, who presented the awards to the GOCCs earning the top 9 scores in the assessment.


Since the inaugural 2014 assessment, the total average score has maintained a steady increase, earning 50.62 percent in 2016, with all the awarded companies scoring above 80 percent.


The list was topped by Philippine Deposit Insurance Corporation with 99.50 percent - the highest ever score achieved by a GOCC. Other recognized companies were Land Bank of the Philippines, Philippine Crop Insurance Corporation, Development Bank of the Philippines, Bases Conversion Development Authority, and LBP Leasing and Finance Corporation, Government Service Insurance System, PNOC Renewables Corporation, and Philippine Reclamation Authority.


ICD Chair Francis Estrada Gives His Closing Remarks at the GCG Awards Ceremonies


Mr. Francis G. Estrada commended the awardees in his closing remarks, concluding the celebration of the efforts of GOCCs as partners in raising the good corporate governance standard in the Philippines.