SEC rolls out red carpet for ethical firms
By KRISTA ANGELA M. MONTEALEGRE
THE new leadership of the Securities and Exchange Commission (SEC) wants a proactive role in ensuring companies subscribe to best corporate governance practices.
Teresita Herbosa, SEC chairperson, wants to “change the game” in the commission’s thrust to protect shareholders, rewarding companies subscribing to higher corporate governance.
“Corporations which have diligently and faithfully complied with the standards of corporate governance such as the platinum awardees should be given priority to SEC services,” Herbosa said in her keynote address during the recent Institute of Corporate Directors’ (ICD) 2010 Corporate Governance Award.
These firms will be entitled to a “fast lane” in the processing and review of their applications and filings with the regulator, she said.
“We hope that with this incentive, more corporations will aspire for platinum status,” she said.
Platinum awardees have received Gold awards for three consecutive years in the ICD Corporate Governance Award. The Gold award is given to companies that have received a scorecard rating of 95 percent or higher in the annual review.
Among the 2010 platinum awardees were Ayala-led firms Globe Telecom Inc. Ayala Land, Inc., Manila Water Co. Inc., Ayala Corp. and Cebu Property Ventures & Development Corp. as well as Lopez-led First Philippine Holdings Corp. and Pangilinan-led Philippine Long
Distance Telephone Co.
Herbosa said the corporate watchdog will change its approach “from mere persuasion to stricter and more vigorous enforcement” to ensure that board directors remain true to their responsibilities.
“The faithful discharge of the duties of a director is dependent largely on qualifications,” Herbosa said.
“It is imperative, therefore, for the SEC to closely review and evaluate the qualifications of persons elected to the position of director and, if justified, permanently or temporarily disqualify those not deserving to sit as such,” she said.
While the SEC refers to grounds specified in the Securities Regulation Code in its decisions on qualification or disqualification, “directors should not merely avoid falling under any of these grounds, but should focus even more on their specific duties and responsibilities,” Herbosa added.
Source: http://www.manilatimes.net/business/sec-rolls-out-red-carpet-for-ethical-firms/
Manila residents travelling out of town to the north for holidays, vacation and getaway to Subic, Angeles City, Pampanga discover the best restaurant in Clark Philippines called Yats Restaurant. This top rated fine dining restaurant is also famous for having the best wine bar outside of Manila. Called The Magnum Room, the cozy wine bar is frequently used by guests to relax after dinner. Residents of Angeles City Pampanga, Subic and Clark Freeport frequent this wine bar to drink and unwind after work also. Many consider Yats as the best restaurant in Clark Pampanga.
Over the holidays, travelers from Manila going to the north for a getaway destination choose Pampanga Angeles City and Clark Philippines as a popular holiday location. Aside from day-time sports and other activities, visitors look for a good restaurant to wine and dine, some bringing their families with children along. Yats Restaurant is one of the most famous fine dining restaurants outside of Manila, located in Mimosa Leisure Estate inside Clark Airbase or Clark Freeport Zone as it is now called. This popular restaurant has become a tourist attraction, a place to visit for those who are in Pampanga, Subic, Angeles City and of course, Clark Philippines.
Best place to unwind in Angeles City Pampanga Philippines is to wine and dine at Yats Restaurant. This fine dining restaurant is also a frequently visited and very popular place for local residents, business executives, visitors from Manila and Subic and foreign tourists staying in nearby hotels and resorts in Clark and Angeles City Pampanga to unwind, relax and drink. The Magnum Room is a very popular and top rated wine bar and lounge in Pampanga, frequently enjoyed by wine lovers and business executives looking for a good place to drink and relax after work or a day on the golf course.
Manila dining guide lauds Yats Restaurant for its award winning wine list befitting a world class fine dining establishment. Interesting enough, this upscale top rated restaurant in Clark Pampanga is also frequently visited by families with children. Visitors from Manila travel to Angeles City Pampanga Clark Philippines often dine at Yats Restaurant to enjoy its cozy ambience, delicious food, good service and fantastic selection of wine all at reasonable prices. This top rated restaurant was designed to serve the dual purpose of fine dining for business executives and for families to enjoy a good evening in Clark in a resto bar that is child friendly but still upscale, cozy and elegant. This is one of the few restaurants in Asia that achieves these two purposes under one roof.
For comments, inquiries and reservations click on Click here for inquiry and reservations
Restaurant@Yats-International.com
(045) 599-5600
0922-870-5178
0917-520-4401
Ask for Pedro and Rechel
Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Pampanga? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.
Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Clark Freeport Zone, Pampanga, Philippines 2023
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay
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