Holding companies Aboitiz Equity Ventures (AEV), Incorporation and Aboitiz Power Corporation received the Golden Arrow Recognition during a virtual award ceremony for the ASEAN Corporate Governance Scorecard (ACGS). AEV received a two-arrow recognition (ACGS score of 90-99 points), while Aboitiz Power Corporation received one arrow (ACGS score of 80-89 points) from domestic ranking body Institute of Corporate Directors (ICD) following the results of the 2019 ACGS assessment.
The Golden Arrow Recognition is awarded to publicly listed companies and insurance companies that achieved a score of at least 80 points in the ACGS. Five levels of performance in corporate governance based on scores are given, with each level depicted by the increasing number of golden arrows.