ASEAN Corporate Governance Scorecard

Level 1 PRIMARY CGS SECTIONS
E.2.22

Does the Audit Committee comprise entirely of non-executive directors/commissioners with a majority of independent directors/commissioners?

Response

YES. The Audit Committee is composed entirely of non-executive directors majority of whom are independent directors. Currently, the Audit Committee members have two independent directors and one non-executive director.

The incumbent members are:

1. Honorio O. Reyes-Lao  - Chairman/Independent Director

2. Antonio Jose U. Periquet - Member/Independent Director

3. Cesar A. Buenaventura - Member/Non-Executive Director

 

References:

1. SEC Form 17-C  - Board Meeting Results dated May 14, 2015.

2. Website - Corporate Governance/Board Committees and Charters

 

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