D&L Industries recognized for its good governance, wins ACGS Golden Arrow Award for the 3rd consecutive year

February 7, 2023 – D&L Industries was recognized alongside other top Philippine publicly listed companies by the Institute of Corporate Directors (ICD) for its outstanding corporate governance practices based on the ASEAN Corporate Governance Scorecard (ACGS). It’s the 3rd consecutive year that D&L Industries received such recognition from the ICD.

Photo caption (from left) SEC Chairman Emilio B. Aquino, ICD Vice Chair & President Ma. Aurora ‘Boots’ Geotina-Garcia, D&L Corporate Secretary Atty. Kristine Catindig-Ong, PSE President and CEO Ramon S. Monzon, and ICD Chairman Atty. Cesar L. Villanueva. Photo courtesy of ICD.

The ACGS measures the performance of the companies in the areas of facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability thru timely disclosure of material information, and how the board guides the company strategically, monitors the management, and ensures the board’s accountability to the company and the shareholders.

ICD is a non-stock, not-for-profit national association of corporate directors and other stakeholders engaged in corporate governance. Its mission is to champion good corporate governance and stewardship for the benefit of the society. It aims to be the key catalyst in the Philippine corporate governance ecosystem for inclusive and sustainable development. 

“We are honored to receive such recognition from the ICD. Ensuring that we implement good corporate governance practices is among our top priorities as a company,” remarked President & CEO Alvin Lao. “We see it as an important foundation in achieving sustainable growth and business longevity. We continue to look for ways to further improve our existing practices and align it with the best-in-class corporate governance practices”, Lao added.

In addition to the AGCS corporate governance award, D&L, in its relatively short history of being a Philippine-listed company, was also recognized multiple times by  other equally respected institutions. Among others, D&L was named as an ASEAN Honored Company by the Institutional Investor, Most Outstanding Company in the Philippines (Industrial Sector) by Asiamoney, and Best Mid-Cap Company by Finance Asia.

“We’d like to share this award with everybody in the company. This is a testament to the hard work and dedication of all the people that comprise D&L,” Lao concluded.


D&L Industries is a Filipino company engaged in product customization and specialization for the food, chemicals, plastics and consumer products ODM industries. The company’s principal business activities include manufacturing of customized food ingredients, specialty raw materials for plastics, and oleochemicals for personal and home care use. Established in 1963, D&L has the largest market share in each of the industries it serves, as well as long-standing customer relationships with the Philippines’ leading consumer and manufacturing companies. It was listed on the Philippine Stock Exchange in December 2012. For more information, please visit 

This press release may contain some “forward-looking statements” which are subject to a number of risks and uncertainties that could affect D&L’s business and results of operations. Although D&L believes that expectations reflected in any forward-looking statements are reasonable, D&L does not guarantee future performance, action or events.


Crissa Marie U. Bondad
Investor Relations Manager – D&L Industries Inc.
+632 8635 0680 /