Manila, Philippines • Philex Mining Corp. continues to excel in corporate governance practices among listed-companies having been one of the Top 5 Companies in Corporate Governance at the 4th Annual PSE Bell Awards during the awarding ceremonies at Makati Shangri-La Hotel last November 25.
The PSE continues to recognize corporate governance as one of the pillars of capital market development. As such, the PSE actively promotes the adoption of world-class corporate governance standards and best practices by its listed companies and trading participants, and has made this a key thrust in its strategic program.
Philex Mining President and CEO Eulalio B. Austin said one attribute of responsible mining is adherance to good corporate governance. •Philex proved once again that we are advocates of responsible mining. Because of this, it would motivate the other mining companies that despite the environmental attacks to the mining industry, good corporate governance can be of great help to soften the issue.•
For his part, Philex Mining CFO and Corporate Governance Officer Danny Y. Yu said one of the biggest influences came from being a member of the MVP group of companies, where he believes is a staunch supporter of corporate governance.
•Determination and political will are two very important ingredients for implementing changes which we think are key to our success. Corporate governance have become an indispensable element in any business organization following the scandals involving top US companies early in the decade. Being a beacon of the industry, this award may not automatically translate to material benefits but will go a long way in terms of our company reputation and shareholder trust. For the industry, we hope this will reawaken an authentic view on mining and how works hand in hand with the government for national progress,• said Yu.
On its fourth year, the PSE Bell Awards continues to respond to the need for better transparency, investor protection and corporate social responsibility among participants in the Philippine capital market by recognizing listed companies and securities firms that adhere to outstanding corporate governance principles and practices
•Dream big but take small steps at a time. After all, a journey of a thousand proportions begins with a single step,• he said.