Saavedra’s CREIT wins 1st Golden Arrow Award for good governance excellence

September 21, 2024
9:06AM PHT

Tycoon Edgar Saavedra’s Citicore Energy REIT Corp. (CREIT) won its first Golden Arrow Award from the Institute of Corporate Directors (ICD) on September 19, 2024, at the Manila Marriott Hotel.

This award recognizes top publicly listed companies in the Philippines for their strong corporate governance based on the 2022 ASEAN Corporate Governance Studies and Scorecard Assessment.

CREIT’s governance practices highlight its commitment to shareholders and transparency, further boosted by its 7.1 million square meters of leasable space for solar power plant operators with a 145 megawatt capacity.

Management’s view

“Our first Golden Arrow for our Citicore Energy REIT reflects our continuous commitment to ensuring transparency in investments and empowerment to our shareholders, while operating with the highest standards of corporate governance,” said Oliver Tan, the president and CEO of CREIT.

“Success for our shareholders is a direct result of our values, practices and commitment of the people in our organization from top to bottom,” he added.

CREIT President and CEO Oliver Tan and CREIT Corporate Secretary Atty. Danica Evangelista accept the company’s Golden Arrow Award from the Institute of Corporate Directors during the 2024 Golden Arrow Awards ceremony./Photo from Citicorp Energy REIT 

Multi-awarded organization

Meanwhile, the company remains focused on growing shareholder value through strategic asset acquisitions and paying dividends above the 90 percent threshold.

CREIT also recently achieved a Dark Green rating from Shades of Green by S&P Global, affirming its leadership in sustainable energy. In addition, the company’s Green Financing Framework was lauded by Sustainalytics, leading to a PRSAa+ rating for its ASEAN Green Bond listing in February 2023.

CREIT has also been honored by Finance Asia Awards as 2024’s Best Managed Company, Best Small-Cap Company, and recognized for its dedication to ESG, diversity, and inclusion.

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