Participation in the Corporate Governance Survey

October 10, 2008 SEC MEMORANDUM CIRCULAR NO. 08-08 TO : All Publicly-Listed Companies SUBJECT : Participation in the Corporate Governance Survey 1. All publicly-listed companies are hereby directed to participate anew as respondents in the Corporate Governance (CG) Survey using the CG Scorecard as the survey instrument. cDECIA 2. A tripartite collaboration among the Securities and Exchange Commission (SEC), the Philippine Stock Exchange (PSE) and the Institute of Corporate Directors (ICD), the CG survey, which is primarily developmental in nature, has the following objectives: a. To provide the regulators and publicly-listed companies with empirical data on the current state of corporate governance within this group of regulated entities as basis for policy and program interventions; b. To help publicly-listed companies develop or strengthen their corporate governance structures or mechanisms in line with global corporate governance principles and practices; and c. To help the SEC in its review of corporate governance principles for possible adoption by publicly-listed companies. 3. Publicly-listed companies are enjoined to accomplish the CG Scorecard to the best of their knowledge and ability after a self-assessment of their current CG practices. 4. The accomplished CG Scorecard shall be subject to validation and analysis within or outside SEC in coordination with ICD. 5. Accomplished CG Scorecards, duly signed by the authorized company officials, shall be submitted to the SEC Attn: The Director, Corporation Finance Department, SEC, EDSA, Mandaluyong City, not later than Friday, 10 November 2008 . CaHAcT 6. For compliance. Mandaluyong City. October 10, 2008. (SGD.) FE B. BARIN Chairperson Published in The Philippine Star on October 16, 2008.