Corporate Governance Scorecard

QUESTION
GUIDING REFERENCE
Y/N
REFERENCES
 
 
 
 
 I. Stakeholder Relationships (15%)
 
1Does the GOCC disclose a policy that:  
 a.Stipulates the existence and scope of its effort to address customer's welfare?GCG MC No. 2012-07 Chapter VII Sec. 35, Sec. 37 
Y
see PPA MC No. 20-2001; PPA MC No. 17-2001; Revised PPA Manual of Corporate Governance Chapter VII Sec. 37; PPA MC No. 11-2015 & 12-2015
b.Elaborates its efforts to interact with the communities in which they operate?GCG MC No. 2012-07 Chapter VII Sec. 35, Sec. 34 
Y
see PPA AO No. 04-2006; PPA AO No. 04-85; PPA MCNo. 24-92; PPA AO No. 03-81; Revised PPA Manual of Corporate Governance Chapter VII Sec. 36-39
c.Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development?GCG MC No. 2012-07 Chapter VII Sec. 35, Sec. 40 
Y
see PPA AO No. 16-95; PPA AO No. 02-2003; PPA MC No. 16-2005; PPA MC No. 11-2015 &12-2015 ; PPA AO No. 07-2015 ; Resolution No. 2670
2Does the GOCC disclose the activities that it has undertaken to implement the above mentioned policies?    
 a.Customer health and safetyGCG MC No. 2012-07 Chapter VII Sec. 35, Sec. 40OECD Principle IV (A) & Global Reporting Initiative
Y
see PPA AO No. 07-2015 ; PPA MC No. 02-2013 ; PPA MC No. 11-2015 ; PPA MC No. 12-2015 ;  Port News articles (Jan-Mar 2016) ;  Port News articles (Apr-Jun 2016);  Port News articles (Jul-Sept 2016);  Port News articles (Oct-Dec 2016)
b.Interaction with the communitiesGCG MC No. 2012-07 Chapter VII Sec. 34
Y
see Revised PPA Manual of Corporate Governance Chapter VII Sec. 38 ; PPA AO No. 04-2006 ; Port News articles (Jan-Mar 2016) ;;  Port News articles (Apr-Jun 2016);  Port News articles (Jul-Sept 2016);  Port News articles (Oct-Dec 2016); CY 2016 Year-End Accomplishment Report
c.Environmentally-friendly value chainGCG MC No. 2012-07 Chapter VII Sec. 40
Y
 
see Port News articles (Jan-Mar 2016) ;  Port News articles (Apr-Jun 2016);  Port News articles (Jul-Sept 2016);  Port News articles (Oct-Dec 2016); PPA AO No. 07-2015 ; Resolution No. 2670
3Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report/section?GCG MC No. 2012-07 Chapter VIII Sec. 41, Sec. 43.4.e 
Y
see  Revised PPA Manual of Corporate Governance Chapter VII Sec. 38;  Port News articles (Jan-Mar 2016) ;  Port News articles (Apr-Jun 2016);  Port News articles (Jul-Sept 2016);  Port News articles (Oct-Dec 2016); CY 2016 Year-End Accomplishment Report
4Where stakeholder interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights.  
 
 
 Does the GOCC provide contact details via the company's website or Annual Report which stakeholders (e.g. customers, suppliers, general public, etc.) can use to voice their concerns and/or compliants for possible violation of their rights? OECD Principle IV (B)
Y
 
 
 
see PPA Website/PPA Citizens Charter/Feedback and Redress Mechanism ; PPA Wistleblowing Policy ; PPA Code of Conduct and Ethical Standards
5Performance enhancing mechanisms for employee participation should be permitted to develop.    
 a.Does the GOCC explicitly mention the health, safety and welfare policy for its employees?GCG MC No. 2012-07 Chapter VII Sec. 39OECD Principle IV (C) Global Reporting Initiative: Sustainability Report
Y
 
 
 
see 5th Collective Negotiation Agreement (CNA) 2014-2017 Article XI; PPA MC No. 03-2004; PPA MC No. 06-2011; PPA MC No. 09-2013; PPA MC No. 04-2015; PPA MO No. 40-2008; PPA No. 38-2008; PPA SO No. 444-2015; PPA SO No. 249-2010; Revised PPA Manual of Corporate Governance Sec. 39 Item 3 ;PPA AO No. 07-2015  ; Port News articles (Jan-Mar 2016) ;  Port News articles (Apr-Jun 2016);  Port News articles (Jul-Sept 2016);  Port News articles (Oct-Dec 2016);
b.Does the GOCC publish data relating to health, safety and welfare of its employees? 
Y
 
 
see 5th Collective Negotiation Agreement (CNA) 2014-2017 Article XI; PPA MO No. 33-2012; PPA MO No. 20-2013; PPA MO No. 17-2010; Memo dated 13 April 2012 & 23 August 2004; PPA Memorandum Order No. 71-2009 ; Port News articles (Jan-Mar 2016) ;  Port News articles (Apr-Jun 2016);  Port News articles (Jul-Sept 2016);  Port News articles (Oct-Dec 2016);  PPA AO No. 07-2015 
c.Does the GOCC have training and development programmes for its employees?GCG MC No. 2012-07 Chapter VII Sec. 36
Y
 
see Revised PPA Manual of Corporate Governance Sec. 39 Item 3 ; CY 2016 Year-End Accomplishment Report ; Port News articles (Jan-Mar 2016) ;  Port News articles (Apr-Jun 2016);  Port News articles (Jul-Sept 2016);  Port News articles (Oct-Dec 2016);
d.Does the GOCC publish data on training and development programs for its employees? 
Y
 
 
see Revised PPA Manual of Corporate Governance Sec. 39 Item 3; PPA 2015 Annual Report p 26 - 28 ; Port News articles (Jan-Mar 2016) ;  Port News articles (Apr-Jun 2016);  Port News articles (Jul-Sept 2016);  Port News articles (Oct-Dec 2016);
6Stakeholders including individual employee and their representative bodies should be able to freely communicate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing this.  
 
 
 
 a.Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?GCG MC No. 2014-04OECD Principle IV (E)
Y
see PPA MC No. 28-2001; PPA SO No. 112-2008PPA Whistleblowing Policy ; PPA Code of Conduct and Ethical Standards
b.Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retalation?OECD Principle IV (E)
Y
see PPA MC No. 28-2001 Sec. IV.3PPA SO No. 112-2008PPA Whistleblowing Policy ; PPA Code of Conduct and Ethical Standards
 Sub-Total 
 
 
 II. Disclosure and Transparency (35%)
 
 
 
 
 
 
 
 
7Quality of Annual ReportDoes the GOCC'S annual report disclose the following items: OECD Principle V (A);     OECD Principle V (E);  ICGN 2.4 Composition and structures of the Board; ICGN 2.4.1 Skills and experiences; ICGN 2.4.3 Independence; ICGN 5.0 Remuneration
 a.Corporate objectivesRA No. 10149 Chapter V Sec. 25, GCG MC 2012-07 Chapter VIII Sec. 41 
Y
 CY 2016 Year-End Accomplishment Report
b.Financial performance Indicators 
Y
 CY 2016 Year-End Accomplishment Report
c.Non-financial performance indicators 
Y
 CY 2016 Year-End Accomplishment Report
d.Details of whistle-blowing policy 
 

 

e.Biographical details (at least age, qualifications, date of first appointment, relevant experience, and any other directorships of listed companies) of directors/commissioners 
 
 
 
 
f.Training and/or continuing education programme attended by each director/commissioner 
 
 
Special Order for the Attendance to the Conduct of Training/Workshop on Corporate Governance and Best Practices
8Are the Annual Reports downloadable from the GOCCs website?  
Y
see PPA Website
9Corporate Governance Confirmation Statement  
 
 
 Does the Annual Report contain a statement confirming the company's full compliance with the code of corporate governance and where there is non-compliance, identify and explain reasons for such issue? OECD PRINCIPLE V (A) (8)
 
 
 
 
10Timely filing/release of annual financial reports  
 
 a.Are the audited annual financial report/statement released within 60 days upon receipt from COA? OECD Principle V. Transparency and Disclosure, A. OECD Principle II. The State Acting as an Owner E. (3)
Y
 
 
 
 
see Transmittal Letter from Commission on Audit dated 27 June 2016; PPA website posting 05 July 2016 ; CY 2016 PPA Audited Annual Financial Statement
b.Is the annual report released within 90 days from release of audited financial reports?  
 
 
 
.Is the true and fairness/fair representation of the annual financial statements/reports affirmed by the board of directors/commissioners and/or relevant officers of the company?GCG MC No. 2012-07 Chapter VIII Sec. 42 (d)OECD Principle V (C); OECD Principle V (E); OECD Principle V- (A. ICGN 7.2 Timely Disclosure; ICGN 7.3 Affirmation of financial statements
Y
 
 
 
 
 
see Audit and Risk Management Committee Resolution No. 2017-03 ; Resolution No. 2594
  Sub-Total 
 
 
 
 
 III. Responsibilities of the Board (50%)
11Corporate Vision/Mission  
 a.Has the Board of Directors reviewed the vision and mission/strategy in the last financial year?GCG MC No. 2012-06 Chapter III Sec. 27.1 (a)OECD Principle 6 (P58) ICGN:3.2 Integrity
 
 
Resolution No. 2519 ; Resolution No. 2520 ; Resolution No. 2524
b.Does the Board of Directors monitor/oversee the implementation of the corporate strategy?GCG MC No. 2012-06 Chapter III Sec. 27.1 (b) 
Y
 
The Management Report which contains the status of the plans and programs of PPA is included as a regular Board Meeting agenda. ; Resolution No. 2519 ; Resolution No. 2520 ; Resolution No. 2524
12Did the GOCC achieve 90% in the PES?  
Y
see PPA 2015 Performance Evaluation System
13Code of ethics or conduct  
 
 
 a.Are the details of the code of ethics or conduct disclosed?  
Y
PPA Code of Conduct and Ethical Standards
b.Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code?  
Y
 
PPA Code of Conduct and Ethical Standards
c.Does the company disclose how it implements and monitors compliance with the code of ethics  or conduct?  
Y
 
PPA Code of Conduct and Ethical Standards
14Does the Board appoint a Nomination and Compensation/Remuneration Committee?GCG MC No. 2012-07 Chapter III Sec. 16.2.4; RA No. 10149 Chapter IV Sec. 23; GCG MC No. 2012-07 Chapter VIII Sec. 41OECD Principle II. The State Acting as an Owner, F. (2) ICGN Global Corporate Principles 5.0 Remuneration & 5.4 Transparency; 2013 ASEAN Corporate Governance Scorecard E.2.10 & E.2.16; SEC MC No. 2 s. 2002 Sec. 9 (B) (b)
Y
 
 
 
 
 
 
 
 
 
see  Resolution No. 2504
15Did the Nomination and Compensation/Remuneration Committee meet at least twice during the year?  
 
 
Board and Committee Meetings' Attendance for CY 2016
16If yes, is the report of the Nomination and Compensation/Renumeration Committee publicly disclosed?  
 
 
CY 2016 Nomination and Remuneration Committee Report
 Does the Board appoint an Audit Committee?GCG MC No. 2012-07 Sec. 8(j); GCG MC No. 2012-07 Chapter III Sec. 16.2.2; GCG MC No. 2012-07 Chapter VIII Sec. 41OECD Principle V. Transparency and Disclosure, B. 2013 ASEAN Corporate Governance Scorecard E.2.22; SEC MC No. 2 s. 2002 Sec. 9 (A)
Y
 
 
 
 
 
see Resolution No. 2502
18 If yes, is the report of the Audit Committee publicly disclosed?  
 
Audit Committee Report
19Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)  
 
 
Resolution 2502
20Did the Audit Committee meet at least four times during the year?  
 
Board and Committee Meetings' Attendance for CY 2016
21Does the Board appoint a Risk Management Committee?GCG MC No. 2012-07 Chapter III Sec. 16.2.5; GCG MC No. 2012-07 Chapter III Sec. 8 (b), (h)OECD Principle VI D (6)
Y
 
 
see  Resolution No. 2505
22If yes, is the report on Risk Management Committee publicly disclosed?  
 
CY 2016 Risk Management Committee Report
23Does at least one member of the Risk Management Committee have a background in finance and investments?GCG MC No. 2012-07  Chapter III Sec. 16.2.5 
 
 
Resolution No. 2505
24Board meetings and attendance  
 
 
 a.Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1)  
 
 
Resolution No. 2482
b.Does the Board of Directors meet at least monthly?GCG MC No. 2012-07 Sec. 8 (a) 
 

see Board and Committee Meetings' Attendance for CY 2016

Note: No Schedule Board Meeting on July and August due to government transition

c.Did the Board of Directors meet on at least 75% on their scheduled meetings? INDO SCORECARD
 
 
Board and Committee Meetings' Attendance for CY 2016
d.Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year? OECD PRINCIPLE VI (E)
 
 
Board and Committee Meetings' Attendance for CY 2016
e.Did the Board of Directors meet separately at least once during the year without the President/CEO present? WORLDBANK PRINCIPLE 6
 
 

see Board Attendance_2015 Regular and Executive Committee Meetings

Note: PPA has officer-in-charge from January to June 2015

25Access to information  
 
 
 a.Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings to be provided to the Board at least three (3) working days in advance of the board meeting?  
 
 
 
Board Administrative  Order No. 03-2016
b.Is the Board Secretary trained in legal, accountancy or company secretarial practices?  
 
 
Profile of the PPA Corporate Board Secretary
26Internal Audit   
 
 
 a.Does the company have a separate internal audit function?GCG MC No. 2012-07 Chapter III Sec. 16.1, 16.2.2 (a) & (d)OECD Principle VI (D)
Y
 
see PPA Organizational Chart ; PPA Rationalization Plan
b.Does the appointment and removal of the internal auditor require the approval of the Audit Committee? OECD Principle VI (D); WORLDBANK PRINCIPLE 6; ASX Principle on CG
 
 
 
Audit Committee Resolution No. 2016-01
27Risk Oversight  
 
 
 a.Does the company disclose the internal control procedures/risk management systems it has in place? OECD Principle 6 (VI) (D) (7)
Y
 
 
CY 2016 Audit Committee Report
b.Does the Annual Report disclose that the Board of Directors/Commissioners has overseen a review of the company's material controls (including operational, financial and compliance controls) and risk management systems? UK CODE (JUNE 2010)
 
 
 
 
Resolution No. 2456
c.Does the company disclose how key risks are managed? OECD PRINCIPLE V (A)
Y
see ; Transparency Seal Section XVI ; Resolution No. 2524 ; CY 2016 Risk Management Committee Report
d.Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal control/risk management systems?  
 
 
 
Resolution No. 2524
28Board Chairman  
 
 
  Do different persons assume the roles of Chairman and CEO? OECD Principle VI; ICGN:2.5 Role of the Chair
Y
 
see  Composition of the Board of Directors
29Board of Directors Development  
 
 
 a.Does the GOCC have orientation programmes for new DirectorsRA No. 10149 Sec. 16; GCG MC No. 2012-05 Art. 5 (f) 
 
Annex Resolution No. 2476 ; Special Order for the Attendance to the Conduct of Training/Workshop on Corporate Governance and Best Practices
b.Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional education programmes?OECD PRINCIPLE VI (E)
Y
 
 
Special Order for the Attendance to the Conduct of Training/Workshop on Corporate Governance and Best Practices
c.Did all appointive Directors attend at least 1 training for the calendar year?  
 
 
Certificates of Attendance of Appointive Directors
30Board Appraisal  
 
 
 a.Is an annual performance assessment conducted of the Board of Directors?GCG MC No. 2012-07 Chapter IIIOECD Principle VI. The Responsibilities of the Boards of State-Owned Enterprises, F. 2013 ASEAN Corporate Governance Scorecard E.5.5 & E.5.6
Y
 
 
 
 
 

see Revised PPA Manual of Corporate Governance Sec. 20 ; CY 2016 Board Performance Assessment Evaluation

Note: Conducted on June 29, 2016

b.Does the GOCC disclose the process followed in conducting the Board assessment?  
Y
 
see Revised PPA Manual of Corporate Governance Sec. 20 ; CY 2016 Board Performance Assement Policy and Procedures
c.Does the GOCC disclose the criteria used in the Board assessment?  
Y
see Revised PPA Manual of Corporate Governance Sec. 20 ; CY 2016 Board Performance Assement Policy and Procedures
31Committee Appraisal UK CODE  (JUNE 2010)
 
 
  Is an annual performance assessment conducted by the Board of Directors Committees?  
 
 

CY 2016 Board Performance Assement Policy and Procedures (page 4, part II Committe Appraisal)

Note: Conducted on June 29, 2016

 Sub-Total 
 
 
BONUS  
 
 
Stakeholders Relationships  
 
 
1Does the GOCC practice Global Reporting Index (GRI) on its annual reports? International <IR> Framework - DRAFT, IIRC Council Item 3b Meeting
 
 
 
 
 Disclosure and Transparency  
 
2Quality of Annual Report  
 
 Are the audited annual financial report/statement released within 30 days upon receipt from the COA? OECD Principle V (C ); OECD Principle V (E ); ICGN 7.2 Timely Disclosure; ICGN 7.3 Affirmation of
 
 
 
see Transmittal Letter from Commission on Audit dated 27 June 2016; PPA website posting 05 July 2016 ; CY 2016 Audited Financial Report
 Sub-Total 
 
 PENALTY  
 
 Responsibilities of the Board  
 
1Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?  
 
 
 
2Is there non-compliance with Good Governance Conditions?  
N
 
  Sub-Total 
 
 
 
 
 
 
 
 
 
 
 
 
CORPORATE GOVERNANCE SCORECARDSCOREWEIGHT
   
IStakeholder Relationships (15%)1515%
IIDisclosure and Transparency (35%)3535%
IIIResponsibilities of the Board (50%)5050%
 Bonus4 
 Penalty4 
  100100%