GMA Network wins corporate governance award

GMA Network recently received the 2009 Corporate Governance Award from the Institute of Corporate Directors (ICD) for being among the top 30 publicly-listed companies that are at par with international standards in terms of compliance and corporate governance practices. GMA Network's transparency, accountability, and practice of good governance were appraised by ICD’s partners, namely, the Securities and Exchange Commission (SEC), the Philippine Stock Exchange (PSE), the Ateneo Law School, the Institute of Internal Auditors of the Philippines (IIAP), and the Center for International Private Enterprise (CIPE). The annual awards event, now on its fifth year, aims to promote transparency, accountability, and the general practice of good corporate governance. A total of 214 companies participated in this year's event. “GMA Network adheres to strict standards on corporate governance and transparency," said GMA SVP for Corporate Services Group and Chief Financial Officer Felipe S. Yalong. “We strive hard to always top our targets and immediately disclose important information and the company’s performance on a regular basis," Yalong added. -- GMANews.TV