Corporate Governance Report 2014

The Board of Directors, officers, executives and employees of PAGCOR abide by the principles and best practices of sound Corporate Governance which serve as guide in making decisions, developing strategy, ensuring integrity, transparency, and efficiency in operations, and fulfilling PAGCOR’s role as a reliable partner of the government in nation-building. PAGCOR’s commitment to the highest standards of Corporate Governance is its driving force in continuously improving the quality of everyday operations.

I. Responsibilities of the Board

  • Board Composition

    • PAGCOR is governed, directed, controlled and managed by a five-member Board of Directors with no Ex-Officio members. The Board of Directors is primarily responsible for the governance of PAGCOR and for providing policy directions, monitoring and overseeing Management actions, as articulated in its Charter and other relevant legislation, rules and regulations.

    The following members of the Board have been appointed by the President of the Republic of the Philippines and have the qualifications and none of the disqualifications provided for under the Charter and other relevant laws. No member of the Board of Directors holds more than five (5) positions in PLCs and GOCCs.


    Cristino Naguiat, Jr.
    Chairman and CEO

    Jorge Sarmiento
    President and COO

    Eugene Manalastas
    Director

    Jose Tanjuatco
    Director

    Enriquito Nuguid
    Director

  • Schedule of Board Meetings

    • Schedule of 2016 Regular Board Meetings (Approved on December 16, 2015)

    January 15 and 21

    February 2 and 11

    March 8 and 15

    April 5 and 19

    May 3 and 17

    June 7 and 21

    • For the Second Semester of 2016, the Regular Board Meetings shall be held as determined by the Chairman of the Board of Directors and, in case of default, the regular meeting shall be held weekly or every Tuesday of the week at 9:30 a.m.
    • As a matter of policy, the PAGCOR Board must be able to meet the following conditions for good governance:
      1. The Board of Directors shall meet on at least 75% of their scheduled meetings:
      2. Each of the directors must have attendance at least 90% of all the Board meetings held during the next year; and
      3. The Corporate Secretary is mandated to comply with the policy that Board papers for board of Directors meetings be provided to the members of the Board at least three (3) working days in advance of the Board meeting.
  • Role of the board in corporate strategy, How does the board oversee the implementation of the corporate strategy? When did the board review the corporate strategy?
    • Manual of Corporate Governance (see page 5)
    • In 2013, four members of the Board of Directors, together with key officers, attended a Performance Governance System workshop to draw up PAGCOR's corporate strategies. The output of said workshop was PAGCOR's Strategy Map and Scorecard which was refined and subsequently agreed upon with GCG for approval during the Performance Agreement Negotiation.
  • Code of Conduct
    • The PAGCOR Code of Conduct
      applies to the Company’s Board of Directors, officers, and employees, whether regular, contractual, casual or probationary, as well as learners, apprentices and trainees in all its corporate offices, casino branches,field offices, arcades and satellites. However, employees of concessionaires, contractors and agencies doing business with the Company are excluded from the coverage of these rules.
    • Responsibility for Implementation
      • The following are responsible for overseeing the implementation of the Revised Rules in Administrative Cases (RRACs) in organizational units of PAGCOR:

        • Branch employees

        • Branch Infraction Committee (BIC)
        • Branch Management Panel (BMP)

        Corporate employees

        • Human Resource and Development Department (HRDD)
        • Corporate Hearing Panel (CHP)

        Cases involving sexual misconduct and harassment are handled by the Committee on Decorum and Ethics (CODE) while cases involving Officers or those referred by the Chairman/President/Department/ BMP/ CHP due to considerations stated in RRACs are investigated by the Corporate Investigation Unit (CIU).

        Resolutions/recommendations of the CHP, CODE, CIU and BMP for cases involving Corporate and branch personnel are elevated to the Adjudication Committee (AC) for review.

  • Board Committees’ Accomplishment Reports
  • Access to information (board materials)
    • The Corporate Secretary is mandated to comply with the policy that Board papers for board of Directors meetings be provided to the members of the Board at least three (3) working days in advance of the Board meeting.
  • Internal Audit (double click and see page 2)
  • Risk management system
  • Board Appraisal System
  • Corporate Secretary (double click and see resume)

II. Disclosure and Transparency

Audited Annual Financial Reports

Date Published Year of the Report Date Receipt from COA
Jan. 14, 2015 2013 Annual Audit Report December 15, 2014
Oct. 19, 2015 2014 Annual Audit Report September 16, 2015
Aug. 22, 2016 2015 Annual Audit Report July 4, 2016

Annual Reports

Year of the Report Date Published in www.pagcor.ph
2015 January 6, 2017
2014 December 2, 2015
2013 February 13, 2015
2012 November 28, 2013
2011 July 10, 2013
  • 2015 Audited Financial Statements
  • 2014 Audited Financial Statements
  • Corporate objectives
  • Financial performance indicators
  • Non-financial performance indicators
  • Details of whistle blowing policy
  • Biographical details (at least age, qualifications, date of first appointment, relevant experience, and any other directorships of listed companies) of directors/commissioners (double click on each member's photo to see resume)
    • (See Appointive Board Composition Above)
  • Training and/or continuing education programme attended by each director/commissioner
  • Statement of full compliance with the code of CG
  • Review of the GOCC’s material controls (including operational, financial and compliance controls) and risk management systems
  • Statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC's internal controls/risk management systems

    • III. Corporate Social Responsibility

    1. Customers’ Welfare
    2. Interaction With The Communities
    3. Environmentally-Friendly Value Chain
    4. Contact details for complaints of other stakeholders
    5. Employees’ welfare and development
      • Training and Development (programs and relevant data)
        • To ensure the stability and success of the organization, all efforts are directed towards the development of all PAGCOR personnel (covering the twin components of skills and character-building), with special emphasis on core values like customer service excellence, integrity, teambuilding, accountability, and social responsibility as primary requisites in elevating and sustaining casino work to the level of a dignified and respectable profession.
        • PAGCOR Training Programs
        • Training and Development Programs 2014
      • Whistle blowing policy and procedures (including protection of reporting employee/s from retaliation)

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