CORPORATE GOVERNANCE SCORECARD* FOR GOCCs 2016
 Questions  Yes No Link Source

     Does the GOCC disclose a policy that:

  • Stipulates the existence and scope of its efforts to address customer's welfare?
 check box 0  

See Quality Policy

See Transparency Seal page Citizen's Charter: Performance Pledge (page 4) and Feedback and Redress Mechanism (page5)

  • Elaborates its efforts to interact with the communities in which they operate?
 check box 0  

See Transparency Seal page, Corporate Social Responsibility (CSR) Statement

  • Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development?
check box 0    

See Transparency Seal page, Corporate Social Responsibility (CSR) Statement

      Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?

  •  Customer health and safety
  check box 0   
  •  Interaction with the communities
 check box 0  

See Press Release on SB Corp's Symbolic Hammer.

See Annual Report

  •  Environmentally-friendly value chain
   check box 0  

Does the GOCC have a separate Corporate Social Responsibility (CSR) report/section or sustainability report/section?

 check box 0  

See Transparency Seal page Corporate Social Responsibility (CSR) Statement

Where stakeholders interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights.   
  • Does the GOCC provide contact details via the company’s website or Annual Report which stakeholders (e.g. customers, suppliers, general public, etc.) can use to voice their concerns and/or complaints for possible violation of their rights?
     

See SBC Feedback and Complaints

See  Office Directory

See Transparency Seal page Citizen's Charter: Feedback and Redress Mechanism (page 5)

Performance-enhancing mechanisms for employee participation should be permitted to develop.
  • Does the GOCC explicitly mention the health, safety and welfare policy for its employees?
check box 0    
 
  • Does the GOCC publish data relating to health, safety and welfare of its employees?
 check box 0  

See Health, Safety and Welfare Program for SB Corporation's Officers and Employees

 
  • Does the GOCC have training and development programmes for its employees?
check box 0  

See Training and Development Program for SB Corporation's Officers and Employees

 
  • Does the GOCC publish data on training and development programs for its employees?
check box 0    
Stakeholders including individual employee and their representative bodies should be able to freely communicate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing this.
  • Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?
check box 0  

See SBC Feedback and Complaints

  • oes the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?
check box 0    
Quality of the Annual Report.Does the GOCC’s AR disclose the following items:
  • Corporate Objectives
 check box 0    See Annual Report Date/Time Uploaded: Sept. 20, 2016 11:36am
  • Financial performance indicators
check box 0    See Annual Report Date/Time Uploaded: Sept. 20, 2016 11:36am
  • Non-financial performance indicators
check box 0    See Annual Report Date/Time Uploaded: Sept. 20, 2016 11:36am
  • Details of whistleblowing policy
 check box 0    See Annual Report Date/Time Uploaded: Sept. 20, 2016 11:36am
  • Biographical details (directors)
check box 0    See Annual Report Date/Time Uploaded: Sept. 20, 2016 11:36am
  • Trainings or continuing education (directors)
check box 0  

See Transparency Seal page, Board of Directors Development Page

Are the Annual Reports downloadable from the GOCC’s website? check box 0  

See Transparency Seal page, Annual Report / Annual Audited Financial Statements for the last 5 years

Corporate Governance Confirmation Statement
  • Does the AR contain a statement confirming the company’s full compliance with the code of corporate governance and where there is non-compliance, identify and explain reasons for each such issue?
   check box 0  
Timely filing/release of annual/financial reports
  • Are the audited annual financial report/statement release within 60 days upon receipt from COA?
check box 0  

See Audited Annual Financial Report Date/Time Uploaded: July 3, 2017 2:15pm; Date/Time Received from COA: June 30,2017 3:59PM

  • Is the Annual Report released within 90 days from the release of the audited financial report?
check box 0   See Annual Report Date/Time Uploaded: Sept. 20, 2016 11:36am
  • Is the true and fairness/fair representation of the annual financial statement/reports affirmed by the Board of Directors/Commissioners and/or the relevant officers of the company?
check box 0  

YES, see Statement of Management's Responsibility for Financial Statements

Corporate Vision/Mission
  • Has the Board of Directors reviewed the vision and mission/strategy in the last financial year?
 check box 0  

See Board Resolution No. 2172, series of 2015

  • Does the Board of Directors monitor/oversee the implementation of the corporate strategy?
 check box 0  

See, SB Corporation's By-Laws

Did the GOCC achieve 90% in the PES? check box 0  

See Transparency Seal page, Balance Scorecard

Code of ethics or conduct
  • Are the details of the code of ethics or conduct disclosed?
 check box 0  

See Code of Conduct

  • Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?
check box 0  

See Code of Conduct (page 16)

  • Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?
check box 0  

See Code of Conduct

Does the Board appoint a Nomination Compensation/Renumeration Committee?  check box 0  

See Manual of Corporate Governance (page 14)

Did the Nomination Compensation/ Renumeration Committee meet at least twice during the year? check box 0  

YES, see Corporate Governance Committee Attendance

If yes, is the report of the Nomination Compensation/Renumeration Committee publicly disclosed? check box 0  

See Matters Discussed

Does the Board appoint an Audit Committee? check box 0  

See Transparency Seal page, Organizational Chart

See Transparency Seal page, Board Committees and Activities, Board Audit and Compliance Charter

If yes, is the report of the Audit Committee publicly disclosed?  check box 0  

 

See Matters Discussed in Board Committees

Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)? check box 0   See Transparency Seal page, Board of Directors Résumés (page 2 no. 1) of Usec. Gil S. Beltran
Did the Audit Committee meet at least four times during the year? check box 0    
Does the Board appoint a Risk Management Committee? check box 0    
If yes, is the report on Risk Management Committee publicly disclosed? check box 0    
Does at least one member of the Risk Management Committee have a background in finance and investments? check box 0    
Board meetings and attendance      
  • Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)
check box 0  

Schedule of Regular Board Meetings every 4th Thursday of the month at 10:00 AM

See Board Resolution No. 952, Series of 2002

  • Does the Board of Directors meet at least monthly?
check box 0   See Transparency Seal page, Attendance Records
  • Did the Board of Directors meet on at least 75% on their scheduled meetings?
check box 0   See Transparency Seal page, Attendance Records
  • Has each of the directors/commissioners attended at least 90% of all board meetings held during the year?
  check box 0  
  • Did the Board of Directors meet separately at least once during the year without the President/CEO present?
check box 0    
Access to information
  • Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting?
check box 0  

Distribution of Board Folio at least two (2) working days before the Board meeting.

See Excerpts of the Minutes of the 209th Board Meeting on October 21, 2010

  • Is the Board Secretary trained in legal, accountancy or company secretarial practices?
check box 0   See Transparency Seal page, Board of Directors Résumés (page 10) of Atty. Jessie R. Reotutar
Internal Audit
  • Does the company have a separate internal audit function?
check box 0   See Transparency Seal page, Organizational Chart
  • Is the head of internal audit identified or, if outsourced, is the name of the external firm disclosed?
check box 0   The Head of the Internal Audit Group is Ms. Rowena G. Betia
  • Does the appointment and removal of the internal auditor require the approval of the Audit Committee?
check box 0   As an amendment to the Board and Audit Compliance Committee
Risk Oversight
  • Does the company disclose the internal control procedures/risk management systems it has in place?
check box 0   See Transparency Seal page, Risk factors and measures taken to manage such risks
  • Does the Annual Report disclose that the Board of Directors/Commissioners have conducted a review of the company’s material controls (including operational, financial and compliance controls) and risk management systems?
  check box 0  
  • Does the company disclose how key risks are managed?
check box 0   See Transparency Seal page, Risk factors and measures taken to manage such risks
  • Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC’s internal control/risk management systems?
  check box 0  
Board Chairman
  • Do different persons assume the roles of Chairman and CEO?
check box 0   As of April 5, 2015, the Acting Chairperson is Usec. Zenaida C. Maglaya while the President/CEO is Bartholomew Brillo L. Reynes
Board of Directors Development
  • Does the GOCC have orientation programmes for new Directors?
check box 0    
  • Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programmes?
  check box 0  
  • Did all Appointive Directors attend at least one (1) training for the calendar year?
check box 0   See Transparency Seal page, Board of Directors, Résumés (pages 7- 9)
Board Appraisal
  • Is an annual performance assessment conducted of the Board of Directors assessment?
  check box 0  
  • Does the GOCC disclosed the process followed in conducting the Board?
  check box 0  
  • Does the GOCC disclose the criteria used in the Board assessment?
  check box 0  
Committee Appraisal
Is an annual performance assessment conducted of the Board of Directors Committees?   check box 0  
BONUS
Stakeholder’s Relationship:Does the GOCC practice Global Reporting Index (GRI) on its annual reports?   check box 0  
Disclosure and Transparency:Are the audited annual financial report/statement released within 30 days upon the receipt from COA? check box 0    
PENALTY
Responsibilities of the Board
  • Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?
  check box 0 None
  • Is there non-compliance with Good Governance Conditions?
  check box 0 None
 

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*Based on the prescribed format of the Governance Commission for GOCCs.