Megawide Construction Corporation (“Megawide” or the “Company”) once again took home the accolade at the Institute of Corporate Directors (ICD) Golden Arrow Recognition Ceremony held at Okada Manila on Tuesday, October 23, reaffirming its commitment to strong corporate governance and ethical leadership.
The Golden Arrow Award 2024 recognizes top performing, publicly listed and insurance companies based on the ASEAN Corporate Governance Scorecard (ACGS) and Corporate Governance Scorecard (CGS) assessment results.
Megawide was awarded two Golden Arrows corresponding to an ACGS score of 90 to 99 points, demonstrating the company's continued adherence to best governance practices and its continued drive to strengthen transparency, accountability and stakeholder engagement.
Driving good governance for a first-world approach
This milestone marks the fifth consecutive year of recognition from ICD for Megawide, which first received its Two Golden Arrows distinction in 2021 with a citation as the most improved publicly listed company in corporate governance.
“As a publicly listed infrastructure company, Megawide believes that good governance is the foundation of sustainable development,” shared Chief Legal Officer Atty. Raymond J. Gomez. “We continue to work closely with regulators, investors and our partners to ensure that the values of transparency and integrity are deeply embedded in all aspects of our operations.”
Megawide's commitment to excellence and strong governance culture is being recognized on both local and regional platforms.
In FinanceAsia's 2025 Best Managed Companies survey, Megawide received multiple honors for leadership, governance and sustainability. Chairman and CEO Edgar Saavedra was named Best CEO (Gold) for his visionary and innovative leadership, while Group CFO Jaz Dela Cruz received the Best CFO (Silver) award for financial excellence and strategic execution. The company was also cited as Best Managed Company (Silver), Most Committed to ESG (Silver), and Best Small Cap (Silver). These reflect the company's integrated approach towards performance, innovation and responsible business practices.
governance across the group
Megawide's corporate governance framework extends to all its subsidiaries and associates, including key infrastructure assets. Related company Citycore Energy REIT Corp. (CREIT) was also honored at the Golden Arrow Awards for its exemplary corporate governance practices.
Gomez said, “Corporate governance starts within the organization. That's how we ensure that our decisions, actions and partnerships are consistent with our vision of building a First World Philippines.”
The ASEAN Corporate Governance Scorecard (ACGS) evaluates listed companies based on shareholder rights, stakeholder relations, transparency and disclosure, and board responsibilities, promoting integrity and trust in the region's capital markets.
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