• PTT Philippines bags Subic governance award

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    THE trading arm of Thai oil firm PTT Philippines topped all locators at the Subic Bay Freeport Zone (SBFZ) in terms of good corporate governance, bagging this year’s award for the category given by the Subic Bay Metropolitan Authority (SBMA), the company said on Tuesday.

    PTT Philippines Trading Corporation, headed by its general manager Danilo Alabado, was the sole winner in the category and was recognized as most outstanding employer among all locators in SBFZ for developing employees with good values, high productivity, and drive for excellence.

    “We are grateful to SBMA, especially to the Labor department, for acknowledging our efforts to develop highly productive and responsible employees. Certainly, this will motivate us to continue promoting good corporate governance,” Alabado said after the awarding ceremony on Friday, November 25.

    PTT Philippines bested more than 1,500 companies operating within the SBFZ for the category.

    Sukanya Seriyothin, PTT Philippines Corporation president and chief executive officer, said good corporate governance is espoused by its parent company in Thailand, the state-owned PTT Public Company Limited.

    “We give high importance to good corporate governance with the aim of benefiting shareholders’ interests, taking into account the interest of other stakeholders, maintaining business ethics and transparency,” Seriyothin said.

    PTT’s good corporate governance policy, she said, is anchored on six good corporate governance principles, namely accountability, responsibility, equitable treatment, transparency, vision to create long-term value and ethics.

    Last year, two PTT employees also made it to the Top 10 Most Outstanding Freeport Workers from among the more than 100,000 labor force at SBFZ.

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