2024 2023 2022

 

Corporate Governance Scorecard 2024

I. STAKEHOLDER RELATIONSHIPS
Questionnaire Answer Compliance
1. Does the GOCC disclose a policy that:
a. Stipulates the existence and scope of its effort to address customer's welfare? Yes Manual-on-Corporate-Governance
b. Elaborates its efforts to interact with the communities in which they operate? Yes Manual-on-Corporate-Governance
c. Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development? Yes Manual-on-Corporate-Governance
2. Does the GOCC disclose the activities that it has undertaken to implement the above-mentioned policies?
a. Customer health and safety Yes Manual-on-Corporate-Governance
b. Interaction with the communities Yes Manual-on-Corporate-Governance
c. Environmentally-friendly value chain Yes Manual-on-Corporate-Governance
3. Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report/section?
Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report/section? Yes Manual-on-Corporate-Governance
4. Where stakeholder interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights.
Does the GOCC provide contact details via the company’s website or Annual Report which stakeholders (e.g. customers, suppliers, general public, etc.) can use to voice their concerns and/or complaints for possible violation of their rights? Yes PHLPost-Customer-Care
5. Performance enhancing mechanisms for employee participation should be permitted to develop.
a. Does the GOCC explicitly mention the health, safety and welfare policy for its employees? Yes Manual-on-Corporate-Governance
b. Does the GOCC publish data relating to health, safety and welfare of its employees? Yes Memo_Health-Safety-Welfare-CY2024
c. Does the GOCC have training and development programmes for its employees? Yes Learning-and-Devt-Report-CY2024
d. Does the GOCC publish data on training and development programs for its employees? Yes Learning-and-Devt-Report-CY2024
6. Stakeholders including individual employee and their representative bodies, should be able to freely communicate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing this.
a. Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior? Yes Whistleblowing-Policy
II.DISCLOSURE AND TRANSPARENCY
Questionnaire Answer Compliance
7. Quality of Annual Report Does the GOCC's annual report disclose the following items:
a. Corporate objectives Yes GCG-Approved-PES-Targets-CY2024
b. Financial performance indicators Yes 3rd-Quarter-CY2024-PES-Monitoring-Report
c. Non-financial performance indicators Yes 3rd-Quarter-CY2024-PES-Monitoring-Report
d. Details of whistle-blowing policy Yes Whistleblowing Policy
e. Biographical details (at least age, qualifications, date of first
appointment, relevant experience, and any other directorships of listed companies) of
directors/commissioners		 Yes CY2024-Corporate-Governance-Report
8. Are the AnnualReports downloadable from the GOCC's website? Yes Annual Report CY2024
9. Corporate Governance Confirmation Statement
Does the GOCC's website contain a statement confirming the company's
full compliance with the code of corporate governance and where there is non-compliance, identify and
explain reasons for each such issue?		 Yes Manual
on Corporate Governance
10. Timely
filing/release of annual/financial reports		 Yes
a. Are the audited annual financial report/statement released within
60 days upon receipt from COA?		 Yes Annual Audit
Report FY2024
b. ls the annual report released within 90 days from release of
audited financial report?		 Yes Annual
Report CY2024
c. ls the true and fairness/fair representation of the annual
financial statement/reports affirmed by the board of directors/commissioners and/or the relevant
officers of the company?		 Yes Statement
of Mgt Responsibility for Financial Statements FY2024

 

III. RESPONSIBILITIES OF THE BOARD
Questionnaire Answer Compliance
11. Corporate Vision/Mission
a. Has the Board of Directors reviewed the vision and mission/strategy
in the last financial year?		 Yes CY2024-Corporate-Governance-Report
b. Does the Board of Directors monitor/oversee the implementation of
the corporate strategy?		 Yes CY2024-Corporate-Governance-Report
12. Did the GOCC achieve
90% in the PES?		 No 4thQ
and Annual CY2024 PES Monitoring Report
13. Code of ethics or conduct
a. Are the details of the code of ethics or conduct disclosed? Yes PHLPost-Code-of-Conduct
b. Does the GOCC disclose that all Directors/Commissioners, senior
management and employees are required to comply with the code?		 Yes PHLPost-Code-of-Conduct
c. Does the company disclose how it implements and monitors compliance
with the code of ethics or conduct?		 Yes PHLPost-Code-of-Conduct
14. Does the Board
appoint a Nomination and Compensation / Remuneration Committee?		 Yes CY2024-Corporate-Governance-Report
15. Did the Nomination
and Compensation/Remuneration Committee meet at least twice during the year?		 Yes CY2024-Corporate-Governance-Report
16. If yes, is the
report of the Nomination and Compensation/Remuneration Committee publicly disclosed?		 Yes CY2024-Corporate-Governance-Report
18. lf yes, is the
report of the Audit Committee publicly disclosed?		 Yes CY2024-Corporate-Governance-Report
19. Does at least one
member of the Audit Committee have an audit, accounting or finance background (qualification or
experience)?		 Yes CY2024-Corporate-Governance-Report
20. Did the Audit
Committee meet at least four times during the year?		 Yes CY2024-Corporate-Governance-Report
21. Does the Board
appoint a Risk Management Committee?		 Yes CY2024-Corporate-Governance-Report
22. If yes, is the
report on Risk Management Committee publicly disclosed?		 Yes CY2024-Corporate-Governance-Report
23. Does at least one
member of the Risk Management Committee have a background in finance and investments?		 Yes CY2024-Corporate-Governance-Report
24.Board meetings and attendance
a. Are the Board of Directors meetings scheduled at the beginning of
the year? (end of Q1 )		 Yes BR-No.-2024-11-Calendar-of-Meetings-for-CY2024
b. Does the Board of Directors meet at least monthly? Yes CY2024-Corporate-Governance-Report
c. Did the Board of Directors meet on at least 75% on their scheduled
meetings?		 Yes CY2024-Corporate-Governance-Report
d. Has each of the directors/commissioners attended at least 90% of
all the board meetings held during the year?		 Yes CY2024-Corporate-Governance-Report
e. Did the Board of Directors meet separately at least once during the
year without the President/CEO present?		 Yes CY2024-Corporate-Governance-Report
25.Access to information
a. Does the GOCC have a policy that stipulates board papers for Board
of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance
of the board meeting?		 Yes Guidelines-in-Developing-Agenda-for-BOD
b. Is the Board Secretary trained in legal, accountancy or company
secretarial Practices?		 Yes CY2024-Corporate-Governance-Report
26.Internal Audit
a. Are the Board of Directors meetings scheduled at the beginning of
the year? (end of Q1 )		 Yes CY2024-Corporate-Governance-Report
b. Does the appointment and removal of the internal auditor require
the approval of the Audit Committee?		 Yes 26b.-BR-No.-2017-91-Internal-Audit-Charter
27. Risk Oversight
a. Does the company disclose the internal control procedures/risk management systems it has in place? Yes CY2024-Corporate-Governance-Report
b. Does the Annual Report disclose that the Board of
Directors/Commissioners has overseen a review of the company's material controls (including operational,
financial and compliance controls) and risk management systems?		 Yes CY2024-Corporate-Governance-Report
c. Does the company disclose how key risks are managed? Yes CY2024-Corporate-Governance-Report
d. Does the Annual Report contain a statement from the Board of
Directors or Audit Committee commenting on the adequacy of the GOCC's internal controls/risk management
systems?		 Yes CY2024-Corporate-Governance-Report
28. Do different persons
assume the roles of Chairman and CEO?		 Yes CY2024-Corporate-Governance-Report
29.Board of Directors Development
a. Does the GOCC have orientation programmes for new Directors? Yes CY2024-Corporate-Governance-Report
b. Does the GOCC have a policy that encourages Directors/Commissioners
to attend ongoing or continuous professional education programmes?		 Yes Manual-on-Corporate-Governance
c. Did all Appointive Directors attend at least 1 training for the
calendar year?		 Yes CY2024-Corporate-Governance-Report
30.Board Appraisal
a. Is an annual performance assessment conducted of the Board of
Directors?		 Yes CY2024-Corporate-Governance-Report
b. Does the GOCC disclose the process followed in conducting the Board
assessment?		 Yes CY2024-Board-Performance-Assessment-Form
c. Does the GOCC disclose the criteria used in the Board assessment? Yes CY2024-Board-Performance-Assessment-Form
31.Committee Appraisal
a. Is an annual performance assessment conducted of the Board of
Directors Committees?		 Yes CY2024-Board-Performance-Assessment-Form
BONUS
Questionnaire Answer Compliance
STAKEHOLDER RELATIONSHIPS
1. Does the GOCC practice Global Reporting Index (GRI) on its annual
reports?
DISCLOSURE AND TRANSPARENCY
2. Quality of Annual Report

  • Are the audited annual financial report/statement released within 30 days upon the receipt from COA?
 Yes Annual Audit Report FY2024
Responsibilities of the Board
Questionnaire Answer Compliance
1. Area the members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs No There are no appointive Directors who are appointed to other GOCCS and PLCs

pages 4-12 CY2024 Corporate Governance Report
2. Is there non-compliance with Good Governance Conditions? No PHLPost Corporate Governance Scorecard for CY2023 (GCG Validated)