Photo shows (from left) Anna Esteban, Belle Corporation (Belle) Internal Audit Assistant Vice President; Manuel Gana, Belle President and Chief Executive Officer; and Michelle Hernandez, Belle Governance and Corporate Affairs Vice President holding with pride the awards of Belle, Premium Leisure Corp. and Pacific Online Systems Corporation as top-performing Philippine companies under the ASEAN Corporate Governance Scorecard.
Belle Corporation (Belle) and subsidiaries Premium Leisure Corp. (PLC) and Pacific Online Systems Corporation (POSC) won golden arrows for being top performing companies in the Philippines under the ASEAN Corporate Governance Scorecard (ACGS) on June 11, 2019 at Conrad Manila.
Belle received a three-arrow recognition for obtaining an ACGS score in the range of 100 to 109 points, while PLC and POSC were recipients of the two-arrow and one-arrow recognition, respectively.
Belle and PLC were also recognized for ranking in the top five of their respective sectors among publicly listed companies.
Starting in 2019, five levels of top performance in corporate governance will be recognized based on ACGS scores and depicted by an increasing number of golden arrows.
According to the awards’ organizer, Institute of Corporate Directors, the upward-pointing arrows “symbolize the continuing efforts of PLCs to raise the level of compliance with the ASEAN corporate governance principles.”
Mr. Gana (center) receives Belle’s three-arrow recognition from Alfredo Pascual (left), Institute of Corporate Directors Chief Executive Officer; and Emilio Aquino, Securities and Exchange Commission Chairperson.
Ms. Hernandez (center) receives the two-arrow recognition of PLC, which obtained an ACGS score in the range of 90 to 99 points.
Ms. Esteban (center) receives POSC’s one-arrow recognition. The Company scored in the 80 to 89 point range.
Belle Corporation is a developer of tourism and leisure destinations in the Philippines. Its principal asset is the City of Dreams Manila in PAGCOR Entertainment City by Manila Bay, which is being leased on a long-term basis to Melco Resorts and Entertainment (Philippines) Corporation (Melco). In addition to lease income, Belle is accorded a share in revenues or earnings from City of Dreams Manila’s gaming operations through the operating agreement between its 78.7%-owned subsidiary, Premium Leisure Corp. (PLC), and Melco. Belle also owns approximately one hectare of presently undeveloped land across from the City of Dreams Manila site.
South of Metro Manila, Belle owns significant real estate assets and develops premium residential resort projects around Tagaytay City. Among its exclusive destinations are the club and golf facilities and residential communities of Tagaytay Highlands and Tagaytay Midlands, as well as a further 800 hectares intended for future development.