Milky Way Cafe, 2nd Floor. Milkyway Building
900 Arnaiz Avenue (Pasay Road) Corner Paseo De Rox
Manila 1200
Philippines
Having a majority of independent directors on the board is standard in many markets around the world and considered a best practice. The norm is encouraged by international guidelines for corporate governance and recent regulatory initiatives. Despite the widespread view that independent directors are beneficial to shareholder value, direct empiric