MESSAGES

Corporate Governance is not entirely new to PLDT. It is the cornerstone of our strategy since the time that First Pacific made its investment in PLDT in 1998. The enactment by the United States of the landmark Sarbanes-Oxley Act in 2002 has proven that we are on the right governance track.

On the regulatory front, our commitment to world class standards of transparency, accountability, and fairness is embodied in our Manual on Corporate Governance, Code of Business Conduct and Ethics in our practices, disclosures and related policies.

We are also in the thick of our Sarbanes-Oxley Section 404 Compliance Project to ensure that our internal controls are sufficiently fair and sound to prevent fraud and other malpractices.

We are pushing our governance agenda further and cascading it down the line to our employees. Thus, when we speak of governance in PLDT, we do not only point to the directors and officers but to everyone. Because governance is everyone’s business – the Board, top management, middle management, and rank and file. For us, corporate governance is not just a set of rules to comply with. It must be a way of life, a set of habits, an attitude – indeed a culture – that will ensure PLDT’s future, indeed to success and prosperity, for the long-term.

This PLDT Corporate Governance website is just one of our initiatives to imbed good governance in each of us by providing relevant and material information about the Company. It is accessible not only to PLDT employees, but also to all other stakeholders – internal and external. With accountability, integrity, fairness and transparency as core values, we adopted a layman’s description of CG principles, rules and practices in the PLDT setting to make them relevant and important to all.

For us in PLDT, corporate governance is simply “Doing Ordinary Work Extraordinarily, Legally, and Ethically.” With that, let me lead the charge in saying, “Corporate Governance…It Starts with ME.”

Manny V. Pangilinan, Chairman of the Board
Philippine Long Distance Telephone Co.

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MESSAGES

In PLDT, if it ain’t broke, we make it better. Just as we strive to make our products and services better than ever, we also strive with even greater enthusiasm to continuously uplift our management and governance practices.

As early as 2001, our efforts had been recognized by the financial community when PLDT ranked well in Asiamoney’s (one of Asia’s most influential finance magazines) list of best-managed companies for 2001. This was clinched when in 2003 Asiamoney adjudged PLDT as the “Best Managed Company” in the Philippines.

In 2004, Asiamoney again chose PLDT as “Best Managed Company” in the Philippines for the second straight year. In that poll, PLDT was chosen as Overall Most Improved Company for Best Management Practices and Overall Best Company for Corporate Governance in the Philippines.

FinanceAsia, the largest Asian-based financial publishing company, echoed the same recognition. In its 2004 Asia’s Best Companies Poll, FinanceAsia chose PLDT as “Best Managed Company” and the “Best in Investor Relations” in the Philippines. PLDT also ranked second for “Best in Corporate Governance” in the Philippines in the same poll.

Guided by our business objectives, manual on corporate governance, code of business conduct and ethics, and other best practices, we are treading into the future, 2005 onwards, with more confidence that PLDT will continue to be at the forefront of management and corporate governance practices. Our core values of accountability, integrity, fairness and transparency are not only to satisfy regulatory requirements, it will be a culture, second skin to each and every PLDT employee, inside and outside of the workplace.

Napoleon Nazareno, President & CEO
Philippine Long Distance Telephone Co.