BONIFACIO GLOBAL CITY, Taguig – Listed natural resource development company Nickel Asia Corporation (NAC) received a three-Golden Arrow recognition from the Institute of Corporate Directors (ICD) during the ASEAN Corporate Governance Scorecard Golden Arrow Recognition ceremonies held at the Manila Marriott Grand Ballroom on Sept. 19, 2024.

This is the fourth Golden Arrow recognition received by the Company and the first three Golden Arrow, denoting an improvement in the corporate governance performance of NAC for the year 2023.

The ASEAN Corporate Governance Scorecard (ACGS) is a tool to measure the corporate governance performance of publicly listed companies in ASEAN countries namely Singapore, Indonesia, Malaysia, Vietnam, Thailand, and the Philippines. The scorecard is based on global best practices and the corporate governance principles of the Organization for Economic Co-operation and Development (OECD).

“We are grateful to the Institute of Corporate Directors for recognizing our commitment to upholding good corporate governance and of course, to our stakeholders for whom we will continue to embody the principles of governance, transparency, and accountability,” said NAC SVP for Compliance and Corporate Services, Chief Compliance Officer, Chief Governance Officer, and Assistant Corporate Secretary Atty. Georgina Carolina Y. Martinez.

In a special message, IESE and Navarra University Professor Dr. Gaizka Ormazabal said that based on research, companies with good scorecards are more attractive to investors, have an incentive to make changes in their respective governance systems which benefit both employees and investors, and are better valued by the market.

He added that there is a correlation between good scorecards and return on investments to companies.

ICD is a non-stock, non-profit organization dedicated to honoring the professionalization of Philippine corporate directorship and raising the level of compliance with the ASEAN corporate governance principles.