# SM Investments earns third consecutive Five Golden Arrow Award

- Link: https://www.thailand-business-news.com/pr-news/sm-investments-earns-third-consecutive-five-golden-arrow-award
- Published: 2026-11-06T10:09:00+07:00
- Author: PR Newswire

PASAY CITY, Philippines, Nov. 6, 2026 /PRNewswire/ — SM Investments Corporation,
the parent company of the SM Group, received the Five Golden Arrow Award from the
Institute of Corporate Directors (ICD) for the third consecutive year, achieving
the highest rating under the corporate governance awards program.

 [⌊For its commitment to high standards of corporate governance, SM Investments receives its third consecutive Five Golden Arrow Award from the Institute of Corporate Directors (ICD). In photo (from left): Ambassador Jose L. Cuisia, Jr. Trustee and Honorary Fellow of ICD; Frederic C. DyBuncio, President and CEO of SM Investments; Atty Benedicta Du-Baladad, Trustee and Chairperson of ICD; and Tomasa H. Lipana, Fellow of ICD and President of ICD.⌉](https://mmx.prnasia.com/media/MS2028732/20261105212723EST_image_1.jpg?id=OA3062260&p=medium600)

For its commitment to high standards of corporate governance, SM Investments receives
its third consecutive Five Golden Arrow Award from the Institute of Corporate Directors(
ICD). In photo (from left): Ambassador Jose L. Cuisia, Jr. Trustee and Honorary 
Fellow of ICD; Frederic C. DyBuncio, President and CEO of SM Investments; Atty Benedicta
Du-Baladad, Trustee and Chairperson of ICD; and Tomasa H. Lipana, Fellow of ICD 
and President of ICD.

SM Prime Holdings, Inc. and China Banking Corporation (Chinabank) received Five 
Golden Arrows while BDO Unibank, Inc. and Belle Corporation received the 4 Golden
Arrows.

The awards assess how companies protect shareholder rights, disclose material information
and provide effective board oversight. The 2026 recognition is based on the 2025
ASEAN Corporate Governance Scorecard assessment.

"We aim to continuously create long-term value for our stakeholders, and strong 
governance is central to that," said Amando M. Tetangco Jr., Chairman of the Board,
SM Investments.

SM Investments’ Board is led by an independent Chairman. Tetangco is the first independent
Chairman of the company, and a former two-term Governor of the Bangko Sentral ng
Pilipinas.

The Board oversees the parent company’s strategy, risk management and major investment
decisions across its interests in retail, banking, property and portfolio businesses.
This oversight supports decisions on where to invest, how to manage financial obligations,
and how much cash to return to shareholders. The operating companies retain their
own boards and management teams, accountable for their respective businesses.

"The achievement reflects SM Investments’ continuing commitment to integrity, transparency,
accountability and responsible stewardship, with sound corporate governance serving
as a foundation for sustainable growth and long-term stakeholder value," said SM
Investments President and CEO Frederic C. DyBuncio.

The ACGS assessment covers shareholder rights and equitable treatment, sustainability
and resilience, stakeholder relations, transparency and accountability through timely
disclosure, and the Board’s strategic guidance and accountability. It provides investors
with a basis for comparing corporate governance practices.

The recognition comes as SM marks 68 years since the opening of its first Shoemart
store. As the businesses have grown, the founder’s values of trust and integrity
have remained a foundation for how the Group is governed.

**About SM Investments Corporation**

SM Investments Corporation (SM) is an owner-operator of market-leading businesses
in retail, banking, and property, with investments in high-growth opportunities 
in the Philippine economy. Through its portfolio, SM generates resilient cash flows
and reinvests with discipline to compound value over the long term.

Its retail operations are the largest and most diversified in the country. Its property
arm, SM Prime Holdings, Inc., is the largest integrated property developer in the
Philippines. Its banking interests include BDO Unibank, Inc., the country’s largest
bank, and China Banking Corporation, one of the country’s largest private domestic
banks.

For more information, please visit[ www.sminvestments.com](https://apc01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.sminvestments.com%2F&data=05%7C02%7Celizabeth.lacson%40sminvestments.com%7C2eb078c421b24f8544ab08deafdc3736%7C1a1a67eb5da742efbe5aaaf4d846a565%7C0%7C0%7C639141557507077113%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=0jbdXcL9qQxS9jqq658JvtP4ao1OFRxUMT2b3nlQ%2FJ8%3D&reserved=0)

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