By Azer N. Parrocha
MANILA, March 21 (PNA) –FinanceAsia Magazine cited two Philippine telecommunication companies as among the best managed public companies in the country and in the region.
FianceAsia said a survey was conducted among investors and analysts which ranked companies, senior executives , as well as policies on dividend payments and other matters.
It said the responses were culled from over 250 portfolio managers and buy-side analysts from around the world on their opinions on Asian-listed companies.
In the 15th edition of Asia’s Best Companies report, Globe Telecom Inc. (Globe) emerged as one of the best-managed companies in the country, co-ranked as fourth along with SM Investments Corp. (SMIC).
Meanwhile, Globe’s industry rival, the Philippine Long Distance Telephone Co. (PLDT) came in at ninth.
Aside from co-ranking fourth place, Globe also made it at seventh for best corporate governance, together with SMIC and BDO Unibank.
Globe also ranked prominently at second as the “most committed to paying good dividends,” and fourth in investor relations.
Meanwhile, Globe President and chief executive Ernest Cu was also adjudged as one of the best chief executive officers (CEOs).
Globe Chief Financial Officer Albert de Larrazabal in a statement welcomed this achievement.
“We are very honored to have been recognized by investors and analysts in the region as one of the best organizations in Asia,” Larrazabal said.
“With sustained momentum in growth for almost all performance metrics, marked by record-breaking results in 2014, Globe has become an exemplar company in terms of setting the pace in its industry, founded on very sound leadership and strong financials,” he said. (PNA)