Request for Solicitations of Proposals/Suggestions Re: ASEAN Corporate Governance Scorecard

July 1, 2014 SEC NOTICE TO : All Publicly Listed Companies SUBJECT : Request for Solicitations of Proposals/Suggestions Re: ASEAN Corporate Governance Scorecard The SEC is among the government agencies which are working toward the realization of an ASEAN Economic Community by 2015. The SEC is committed to make Philippine publicly listed companies (PLCs) more competitive in the field of good corporate governance in time for PSE joining the ASEAN trading link. As you are aware, good corporate governance is essential in developing the capital markets, increasing share value and protecting investors. It is the key to eliminating unethical and illegal conduct among companies and stakeholders. Corporate Governance (CG) experts within the region have banded together under the auspices of the ASEAN Capital Market Forum (ACMF) and the Asian Development Bank (ADB) to assess the level of corporate governance of each of the top 100 PLCs in each jurisdiction, and rank all of them accordingly through the use of the ASEAN CG Scorecard and the peer review process. Unfortunately, Philippine PLCs were not prepared to take part such that results of the past two-year Scorecard and review showed them lagging behind the PLCs from Singapore, Thailand and Malaysia. In view thereof, and to ensure that the next ASEAN CG Scorecard Country Report and Assessment 2013-2014 will accurately reflect the level of good corporate governance of Philippine PLCs, the SEC is requesting you to assist it by: A) Proposing steps and measures that could be undertaken by your company and other Philippine PLCs to obtain high ranking and scores; B) Making known issues and concerns that may adversely impact on the ability of Philippines PLCs attain high ranking and scores; and C) Attending the SEC public consultation to be held on 28 July 2014 at a venue to be announced. TCDHIc To facilitate the public consultation, we would appreciate if you could send to us not later than 18 July 2014 your proposals and concerns by email to [emailprotected]. TERESITA J. HERBOSA Chairperson