The Manual on Corporate Governance (Manual) is the corporate governance charter of the Company. It is a clear statement by the Company, the Board of Directors, Management, Employees and Shareholders, that corporate governance is a necessary component of what constitutes sound strategic business management. The Manual was approved by the Board at its regular meeting on August 14, 2002 and was submitted and received by the SEC on September 3, 2002. The Manual has since been reviewed, revised, updated and amended by subsequent Board actions in keeping with evolving best practices.
In 2012, the Company amended its Manual to update the Company’s practices in the following areas: (a) Selection of the Board of Directors and Officers; (b) Composition of the Board Corporate Governance Committee; (c) Changes in the Board Risk Management to Board Risk and Reputation Management Committee and (d) Updates to the Board Audit Committee Charter. Most recently, the Board of Directors during its regular board meeting last July 24, 2014 the amendments to the Manual in compliance SEC Memorandum Circular 9-2014. The amended Manual was submitted to the SEC on July 31, 2014 and uploaded in the Company’s website on the same day. Click here for the copy of the Manual.