Five firms top list of good corporate citizens

Two companies controlled by the Ayala family, the Philippines’ first telephone operator and the country’s homegrown oil refiner topped a list of firms ranked in terms of sound corporate governance.

In its first corporate governance scorecard, the Institute of Corporate Directors on Monday night announced that Ayala Land Inc., Bank of the Philippine Islands, Petron Corp. and the Philippine Long Distance Telephone Co. topped the list of good corporate citizens.

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