Listed chemicals and food ingredients manufacturer D&L Industries Inc. commits to the continuous implementation of good corporate governance amid a strong push to attain sustainable growth and business longevity.
Last year, the Institute of Corporate Directors or ICD, a non-stock, not-for-profit national association of corporate directors and other stakeholders engaged in corporate governance, recognized the company for its outstanding practices.
It was the third consecutive year that D&L Industries received the ICD recognition.
“We are honored to receive such recognition from the ICD. Ensuring that we implement good corporate governance practices is among our top priorities as a company,” D&L President and CEO Alvin Lao said Wednesday.
“We see it as an important foundation in achieving sustainable growth and business longevity. We continue to look for ways to further improve our existing practices and align them with the best-in-class corporate governance practices,” Lao added.
Scorecard tracks CSR
The ICD used the ASEAN Corporate Governance Scorecard or ACGS as the basis for assessing D&L’s corporate governance practices.
The ACGS measures the performance of the companies in facilitating equitable treatment of shareholders, relating to their different stakeholders, and ensuring transparency and accountability through timely disclosure of material information.
It also considered how the board guides the company strategically, monitors the management and assures accountability to the company and the shareholders.
ICD aims to champion good corporate governance and stewardship for the benefit of society. It aims to be the key catalyst in the Philippine corporate governance ecosystem for inclusive and sustainable development.
Apart from this, D&L was also recognized multiple times by other institutions.
Among others, it was named an ASEAN Honored Company by the Institutional Investor, the Most Outstanding Company in the Philippines by Asiamoney, and the Best Mid-Cap Company by Finance Asia.
D&L earlier expressed optimism to hit record-high profits in 2022 despite the Omicron surge in January and the sharp increase in commodity prices.