A stockholder greets Manuel V. Pangilinan, chairman of Philex Mining Corp., after the annual stockholders’ meeting last June 25, at the Crowne Plaza Galleria Manila Hotel | DARWIN SARDEZ

Philex one of Asia’s most promising firms on corporate governance

Saturday, October 25, 2014

Award granted by Corporate Governance Asia

Philex Mining Corp. has been noted by a prestigious regional journal as one of the companies in Asia that are •€following the path of good corporate governance,•€ granting it the •€œAsia’s Most Promising Company on Corporate Governance•€ award for this year.  

We are grateful that our efforts toward implementing higher corporate governance standards have been noticed,•€ Eulalio Austin, Jr., CEO and president of Philex Mining, said. •€œRest assured that we would keep on working to becoming a better responsible mining company.•€  

The award, bestowed by Corporate Governance Asia, the region•€™s most authoritative journal on corporate governance, is a new set of recognition based on quality of management, business model, growth prospects, financial performance, and relative position in the industry.  

The company has worked hard not only as a government partner in nation-building and economic progress, but also as a responsible miner committed to continuously improving its standards of governance,•€ Michael Toledo, SVP for Corporate Affairs at Philex Mining, said.  

He, together with Mr. Austin, who received the accolade on behalf of Philex Mining, attended the awarding ceremonies during the 10th Corporate Governance Asia Recognition Awards, at the Renaissance Harbour View Hotel, in Hong Kong, on Oct. 24.

In a September 8 email to Philex Mining, Frank Santiago, editor-at-large of the Hong Kong-based journal, said, •€œIn addition, Corporate Governance Asia is highlighting the efforts of those companies that are following the path of good corporate governance.€  

He added, •€œLike their more astute counterparts, the Most Promising Companies in Corporate Governance are adopting measures to raise their corporate governance standards, believing that best corporate practices are good for business.